Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
apnews.com Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords.
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Prices are already jacked up to an insane level compared to wages, the horse is already out of the barn: This is not going to fix the problem renters face.
A soft cap works as a ratchet. Downturns in the rental market are sticky while up turns are slow and marginalized.
It's effectively the opposite of the way things are now, with cartelized units staying artificially high through downturns and prices skyrocketing during every shortfall.
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