Biden Proposing 5% Cap on Housing Rents

[EvilCat Breath]

You idiot, Bidenomics inflation has accounted for a minimum 20% increase in just about everything. Show us where rents have gone up 200%. If, and that's a huge IF, Biden were to cap increases, properties will be taken off the market...guaranteed.

The owners will take rentals off the market and convert them to condos.

If you really want to lower rents, mass deportations are your friend.

 

[jbrownson0831]

I dont buy your "commie"talk, when you hav no sympathy at all for Sam Ash, and thousands of other businesses being destroyed by exhorbitant housing rental rates.

And you aren't addressing the real issue, only a "fix" that won't work as has been proven before and the properties turn into slums.
You have only to look at the Dimfascist policies regarding businesses concerning shutdowns....remember Covid when Dimtards wanted to shut the country down over the flu. Thankfully red cities and states ignored this fascism and were affected a minor amount. But that's their attitude toward yours or any businesses health.

 

[Toddsterpatriot]

Maybe you could ask thousands of landlords in New York City, who own buildings under rent control for decades, and are still doing OK.

100% would tell you they're against rent control.

 

[protectionist]

No kidding, you "saw" it on YouTube, you are too fricken stupid for words.

Plenty of good stuff on Youtube.One simply needs to be able to discern the good from the bad. And intelligent posters who dont have to resort to name calling from those who do.

 

[BluesLegend]

This proposal is potent. There are 112 Million renters in America (34% of the total population).
There are also 32.2 Million businesses. Together these translate into a ton of votes.

If Trump does not reciprocate and propose a rent control law himself (of 5% or lower), he could be handing Biden the election. After the astronomical rent increases of the last few years, to renters and business owners, this is the most serious issue in America. Both have taken a huge hit economically, by the enormously higher rents.

Biden to call for 5% cap on annual rent increases, a critical issue for voters

Corporate landlords would lose the ability to write off depreciation values from their units if they increase tenants' rent more than 5%.

www.aol.com

The Number of Businesses in the USA and Statistics for 2024

The United States has 33.2 million of businesses in 2024. This article include various statistics on business statistics on sectors and more.

www.clearlypayments.com

Decade in review: Number of U.S. renters surpasses 100 million - HousingWire

A recent Rentcafé study shows renter rates have climbed across the country as more and more Americans are now choosing to rent instead of own.

www.housingwire.com

Biden proposes capping...rents Biden jacked up sky high? Let me just think about that one.

 

[jc456]

Rents going from $750/month to $2,200/month are GOUGING, not property taxes.

Prove that!! Name one facility

 

[jc456]

Plenty of good stuff on Youtube.One simply needs to be able to discern the good from the bad. And intelligent posters who dont have to resort to name calling from those who do.

Cherry picked

 

[protectionist]

The owners will take rentals off the market and convert them to condos.

If you really want to lower rents, mass deportations are your friend.

I agree with the idea of mass deportations, and Biden's illegals airlifted into cites, saturating rental markets are a major part of the problem. But that is water over the dam. You think if millions of illegals get deported, landlords will restore $2200/mo rents, back to $750 ?

 

[Thinker101]

Plenty of good stuff on Youtube.One simply needs to be able to discern the good from the bad. And intelligent posters who dont have to resort to name calling from those who do.

LOL, "intelligent" posters don't get their news from YouTube...moron.

 

[Mikeoxenormous]

I have posted 1,000 posts of reasons to not vote for Biden. I dont need coaching on that. As for "wages", have you forgotten those of us seniors (I'm 78) living on Social Security and small pensions ?

Also increased wages doesnt do much for businesses when 100 times the wage increases are losses in disposable income due to HUGE rent increases

I guess there is a sucker born every minute. You listened to how wonderful a union was, and believed that they would take care of you later on in life. Did you ever ask, about pensions not keeping up with inflation? Of course not, because if you did, you would be like me, a heavy investor in the stock market. It was Bill Clinton, who taxed even more Social Security, so even though you paid into, it over years, good ole Bill wanted more of your money at the end of life. That was when i went all in to learn investing and who to NOT pay my fair share.....

When the government meddles in the free market, then it will end badly. Let them cap rents, and when the owners go bankrupt, soon you will be expelled as they tear the building down...

 

[Concerned American]

Go back and get robbed by Biden's illegal alien dirtbags?

That are living in those rent controlled apartments in place of Americans.

You dont seem to be thinking about the 99.99% of businesses that desperately need a rent cap law. What about them ?

It is called inflation. Fuel rises--minimum wages double, costs go up on everything. If your rent goes up, raise your prices. It is an inflationary spiral.

 

[jbrownson0831]

Biden proposes capping...rents Biden jacked up sky high? Let me just think about that one.

Exactly. Like telling the grocers to lower their prices....you mean the ones you jacked up?

 

[task0778]

As i already stated, NYC has had rent control since the 1920s and there still is a very healthy rental housing industry there. All you're doing is repeating standard landlord propaganda. Ho hum.

And you are repeating the standard proggresive liberal democrat bullshit that price contros on rent can be done without consequence. Just like price controls on anything else, protectionist policies always eventually bite you in the ass.


In November, FEE Policy Correspondent Brad Polumbo wrote about a new policy in St. Paul, Minnesota which stood to implement the strictest rent control policy in the United States.

“The city just approved a rent control measure that will limit landlords’ ability to increase rents on its 65,000+ rental properties,” wrote Polumbo. “They will not be able to increase prices by more than 3 percent each year under the new law. Controversially, the initiative does not account for inflation and applies to new construction, not just existing properties.
.
.
“With three months of data on the books since the passage of the rent control measure in November, results are rather grim for anyone hoping for new apartment buildings in St. Paul,” Lindeke writes. “Compared to the same period during the previous year, multifamily building permits are down over 80 percent. Meanwhile, in Minneapolis overall construction is up as the economy has rebounded.”

As Lindeke explains, even if developers want to continue building in St. Paul, they face stiff headwinds because they can no longer get financing.

“Because people making financing decisions view rent inflexibility as increasing risk, they have been simply leaving St. Paul construction projects by the wayside. As one St. Paul developer described during a recent round table discussion, ‘it’s a concern.’
“We have two projects with 260 units where the capital stack was all put together and ready to go, but when the ordinance passed those investors went away,” explained Kou Vang, president of JB Vang Real Estate. ‘A lot of our investors were family funds, stuff of that nature, and they still went away.’”

The Results of St. Paul’s Rent Control Experiment Are In—and They’re Disastrous

Economics 101 strikes again. “Compared to the same period during the previous year, multifamily building permits are down over 80 percent."

fee.org

 

[EvilCat Breath]

I agree with the idea of mass deportations, and Biden's illegals airlifted into cites, saturating rental markets are a major part of the problem. But that is water over the dam. You think if millions of illegals get deported, landlords will restore $2200/mo rents, back to $750 ?

If you want rent control, you go to your city, put it on the ballot and vote for it. Putting all rents under federal control isn't just bad, it's unbelievably bad.

 

[Concerned American]

NYC landlords have been proving that you cn make money WITH RENT CONTROL, and theyve been doing that for 100 years.

They're making money on paper through the increase in value and equity of the property. How many of the private owners of these rent-controlled properties have become known as slum lords because they can't afford to maintain the properties due to rent control? Think critically, try it sometime.

 

[Toddsterpatriot]

Another short-sighted band aid.

Let's instead put strict limits on the number of residential properties that can be purchased by private equity. That's largely what's been driving prices and rents up.

That and 10 million new illegal aliens who have to live somewhere.

 

[Toddsterpatriot]

As i already stated, NYC has had rent control since the 1920s and there still is a very healthy rental housing industry there. All you're doing is repeating standard landlord propaganda. Ho hum.

Liar. Moron.

 

[BluesLegend]

Exactly. Like telling the grocers to lower their prices....you mean the ones you jacked up?

I don't want someone as dumb as Biden trying to help me, look what happened the first time.

 

[Toddsterpatriot]

You dont seem to be thinking about the 99.99% of businesses that desperately need a rent cap law. What about them ?

They should stick to the free market and not support price controls.

 

[Concerned American]

Let's not change the subject.

Yeah, A car in every garage and a chicken in every pot. Equivalent to Guaranteed living wage and DEI. Rent control is just a means to an end.