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
President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords.
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I'm curious what the federal government can actually do in this situation. Most private leases are contracts under state law, not federal law.
I would think tax law could make it completely untenable to own residential properties as rentals and give federal tax breaks to developers that build affordable housing? I’m sure there could also be federal grants to cities for easing zoning restrictions. Not sure how much of this is possible.
Threats I guess 🤷
You can always put new limits in that private contacts have to abide by. The only limit is the Constitution.