Biden Proposing 5% Cap on Housing Rents

[EvilCat Breath]

As it turns out, Biden won't be doing anything.

 

[protectionist]

As it turns out, Biden won't be doing anything.

That is almost surely correct.

 

[Concerned American]

it's you parasiting on renters

I don't rent to people--are you demented? I've told you multiple times. I don't rent from people either. I've told you that too. I don't owe anyone besides my parents for bringing me into this world and my wife for staying by my side. I own what I have and paid the asking price for it. I pay my taxes and a lot of them go to parasites like you who refuse to pay your own way opting instead to suck off of some other human that is trying to make a living. Run along, sponge.

 

[Concerned American]

My customers know what the prices are.

You know what the prices are too, parasite. And you continue to live there. If you don't like the price, as is the case with your customers, leave. It is up to you. A landlord has a product (his property), you want to live there. You pay the price he wants for it or find someplace else with a price in line with what you think is fair. Its on you. The landlord owes you nothing. And before you whine but its a necessity. Example: An egg farmer doubles what he charges for his eggs because feed and enery costs increase and he needs a raise to maintain his standard of living due to inflation. By raising his prices, customers are forced to forego other things they might have bought if they hadn't had to pay so much for eggs. That forces a hardship on competing products businesses. Do you think eggs price should be capped? Do you think the egg farmer is gouging? Would you put on a monthly tirade because you don't want to pay it? Naw. LMAO and you claim you're not a parasite.

 

[buckeye45_73]

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

IT's bad

What does economic evidence tell us about the effects of rent control? | Brookings

Rebecca Diamond discusses short term and long term effects of rent control. In the long run, the costs outweigh the benefits.

www.brookings.edu

New research examining how rent control affects tenants and housing markets offers insight into how rent control affects markets. While rent control appears to help current tenants in the short run, in the long run it decreases affordability, fuels gentrification, and creates negative spillovers on the surrounding neighborhood.

Again short term gain but long term pain

It's one reason why California is outrageous in home prices.

DMQ find that rent-controlled buildings were 8 percentage points more likely to convert to a condo than buildings in the control group. Consistent with these findings, they find that rent control led to a 15 percentage point decline in the number of renters living in treated buildings and a 25 percentage point reduction in the number of renters living in rent-controlled units, relative to 1994 levels. This large reduction in rental housing supply was driven by converting existing structures to owner-occupied condominium housing and by replacing existing structures with new construction.

 

[OKTexas]

Use the words "commies" when you're not slamming US businesses, like you are.

Only thing I slammed was the ignorant ***** in this regime.

.

 

[Slyhunter]

Do you understand supply and demand? The homes are selling for what the market will bear. If no one pays that price, then there would be no one asking for it. That is common sense. Do you actually think that every home owner/seller or landlord is conspiring against you individually? C'mon man, use your head. No one is going to be in business if they try to sell their products for more than what people are willing to pay.

yeah I do, the more foreigners from other states come here to retire the harder it is to live on a Floridian wage.

 

[Andrew_Jackson_FTW]

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

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

You are 100% right brother. It is, of course the most important issue. The cost of homes is the cost-of-living. Things are so astronomical in this country. We all remember the coronavirus and other words more tough version of the flu and how the politicians locked us down, unnecessarily and destroyed the economy. Perhaps one of the most heinous things in human history that could’ve been avoided.


The price of homes are still so astronomical that the middle-class Americans cannot afford a home in 99% of the country.

 

[Andrew_Jackson_FTW]

We are going to have to ask ourselves… do we want communism in this country? Do we want to see the vile site of Americans living in huge commie block apartments which is btw what we have in some numbers, but it will only get worse unless we do something to reverse the current course we are on.

Again, thank you too protectionist this is by far the most serious issue in this country. It’s not some foreign war that has no effect on America. It’s not race in America. There is no racism in America.

This is it. This is the greatest issue facing this country the cost of living… and for so many black Americans and white Americans they just can’t afford things.

 

[Andrew_Jackson_FTW]

Trump MUST reciprocate with his own rent cap law. I would hate to see Biden steal the election (legally), just by advocating a very popular (and needed) reform.

Also, if Trump is to show that he s a man of the people, and a protector of business interests, he will have to parallel Biden on this issue.

Absolutely trump shd counter with 3% rent cap rate. As a counter to the blood thirsty corporations that buy up blocks of houses and then rent them out at astronomical prices, which is against Christianity. So this is some serious stuff here this is the most important issue in this country.

 

[Andrew_Jackson_FTW]

All you're doing here is repeating the standard old landlord line that says they need the increase to cover their costs. This might have been true in the past, with moderate increases, but over the last 5 years, it's a new and totally different ballgame, with rent increase of 100-200% common.

No landlord needs to raise rents $1000-2000/mo. This is insane. I hope Trump follows suit. I'm a Republican, and I've voted for Trump 3 times. I don't want to see him lose because of this. It could happen.

This exactly. Frankly, I’m surprised there has not been more of an aggressive response from the American people to the fact that we have seen home prices literally double in a year. And with that, of course, the price of rent has skyrocketed too.

All because of that garbage response to the “coronavirus”.

Businesses have been very greedy in the aftermath of the coronavirus not all of them but certainly many of them. As have some landlords. And they make up the excuse just like you said “oh they need the money”. To hell with that. How do those people even live with themselves?

And the reason why there hasn’t been enough pushback I believe it’s because a lot of young Americans are doped up on marijuana. They’re happy living a shit hole existence living in some tiny apartment surrounded by walls … playing video games watching porn all day. They have no drive for motivation and that is what corporate America loves.


I just wish things were like they were in the 1950s…. When it came to the jobs we had, the patriotism we had, the way people dressed and conducted themselves, community values.

 

[Andrew_Jackson_FTW]

President Joe Biden will announce a new 5% cap on rental increases nationwide, a proposal aimed at stemming inflation-driven housing costs that have not dipped since the pandemic.

Biden hopes to unveil the proposal during his campaign stop in Nevada, a critical swing state for Democrats that has been crippled by soaring housing costs.

Under the new measure, which would require congressional approval, corporate landlords would lose the ability to write off depreciation values from their units if they increase tenants' rent more than 5%.


From the link in the OP. Biden is going to propose every frickin' thing under the sun to get votes, knowing full well it ain't going to happen. Nor should it, rent controls disincentivizes new housing construction. And that is a fact of life.

And BTW I doubt this is going to make a difference in November.

OK, well something has to be done. Simply because we have seen an astronomical increase in the price of homes to buy or rent in a very short period of time. Not normal. This is a extreme situation which requires an extreme response. Maybe you can figure out that response?

Because this country ain’t what it used to be in terms of having a strong middle class or dignified society. Our middle class has been crushed, and we have all sorts of left-wing filth in this country, like men getting naked in front of children in public places.

 

[Andrew_Jackson_FTW]

Part of Biden's idea is to greatly increase affordable housing development. More details are in the link in the OP.

This would not only provide more rental housing, but would help to keep landlords from gouging.

Frankly, it’s a breath of fresh air. And this is what the old-school Democrats would do. You see that’s why the USA had the greatest economy in the world in the 1950s well it was because of men like Franklin Roosevelt, but also Republicans like Dwight Eisenhower. we had the greatest middle class in our history in the 1950s. We had better jobs in those days, lower prices of homes. Easier access to the middle class.

Now today’s Democrats bombard us with propaganda about foreign wars that have no effect on our country and race division.


Now If only Biden and the Democrats would reject BLM, they would have my vote. People would be proud to vote Democrat.

 

[Andrew_Jackson_FTW]

Well "Republican", I suggest you go buy/invest in a rental property and find out for yourself how costs have risen.

One of many factors starts at local level where "growth management acts" along with huge permitting - inspection -application/approval fees and other costs have resulted in more demand and less supply for housing = to own or rent.

This hose and i/2 acre country lot my wife started to purchase about 34 years ago went for @ $70,000. Latest tax apprise from county puts a value pushing near half a million$. We wouldn't be able to by this place today.

Just because the guv'mint says gravity doesn't apply doesn't mean gravity will stop working.

It was the Republicans and Democrats who brought us the stimulus checks and the lockdown which wrecked the middle-class.


Extreme circumstances call for extreme measures

I mean if it’s not rent control something has to be done to help the middle-class in this country

Currently middle-class Americans cannot afford a home in 99% of the country according to CBS News. I’m all ears to hear your solution.

 

[IDIOCRACY]

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

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 lies. Cost of homes have increased more than rent

 

[Andrew_Jackson_FTW]

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.

Along with the totally unnecessary lockdowns and stimulus checks. I mean we’re talking trillions of dollars printed out of nowhere. Some of the worst things in history of the USA were those lockdowns and stimulus payments.

I remember watching the price of homes skyrocket in some cases double within a year. That ain’t normal. It’s an extreme circumstance.

 

[Dragonlady]

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

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

Rent control is not applicable to commercial rents, only residential rents.

Commerical rents haven't risen post-pandemic. People are buying online, still, and how many people are still working from home post-pandemic? Large numbers of bricks and mortar locations are closing, as a result, and vacancies are at an all-time high.

Residential rents are being driven by the entry of large corporate ownership into the home rental business. Data shows that up to 30% of all home sales are now going to corporate investors looking to rent the properties. These acquisitions are driving up prices, and putting home ownership further out of reach for young families.

Rent controls are a dual edged sword. They work for renters, but discourage investement in rental housing.

 

[Andrew_Jackson_FTW]

That's something that should have been enacted decades ago.

And as a landlord type it's absolutely anathema to tRump and his cronies.

You know maybe for all of the 20th century Democrats were the party of the working middle-class. You know that’s why we had the post World War II economic boom Democrats and Republicans in those days cared about the country. Why is it today that Democrats are dividing us with race nonsense and foreign wars that have no effect on America??



how can anybody support the Democrat party of today that allows men to dance naked in front of children, that denigrates American history, they destroy statues of great Christian European men of history. What are they actually doing for the middle class? This proposal by Biden is probably the first time in a long time I have heard a leading Democrats try and do something for the middle class. Apparently he’s not even going to be able to enact it though. what a joke, man.

 

[Andrew_Jackson_FTW]

All of the things you posted are not only unconstitutional, some of them are purely communistic. You are not a conservative. As someone on this thread suggested, Landlords should refuse to renew leases and after eviction, raise the rent on the new tenant--careful what you wish for.

He’s one of the most conservative posters on this form. It’s OK to have disagreements my friend. He doesn’t deserve to be called a communist or a socialist or something like that. Hell to do that is a BLM left-wing tactic.

protectionist is one of the most infamous critics of Democrats today. Have you seen his threads. I know I have. I believe he is also a big-time Trump supporter. I disagree with his viewpoint of Islam and what he wants to do with mosques. But he is pointing out a very serious issue in this country and is the high cost of living.


We saw an astronomical increase in the price of rent and buying a home in a very short period of time …much of it was due to the lockdowns and stimulus payments. Nobody can deny that in some cases landlords are very greedy. OK that’s a part of life please we all realize that if some people could get away with it, they would do the worst things we could imagine like abuse children for example if it was legal ….That is why we have laws and regulations. So we can debate this issue without name-calling.

Sometimes the rent might have to be increased, but nobody can sit here and deny that there are landlords who are abusing the system. Nobody can deny that.


The point is something has to be done in this country to make the middle-class better. What is your solution?

 

[georgephillip]

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

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

"Driven by the pandemic-era real estate boom, corporate landlords are ramping up their purchases of assets like apartment buildings and mobile home communities nationwide.

"They’re especially active in fast-growing Sun Belt markets like Phoenix and Atlanta, where more than a third of homes on the market are now being purchased by private equity firms like Blackstone or dedicated single-family rental companies.

"Even Amazon founder Jeff Bezos has entered the single-family housing market."

https://jacobin.com/2024/05/single-family-homes-rentals-wall-street#:~:text=They're%20especially%20active%20in,the%20single%2Dfamily%20housing%20market.

Millions of people lost their homes to foreclosure during the 2008 Great Recession; many of those homes were bought by some of the same big banks whose predatory mortgage lending facilitated that economic crisis.

Covid, low interest rates, and rising real estate prices have increased the percentage of investor owned single family homes from 16% in 2019 to nearly 30% in 2022.

In some cities, institutional investors account for a far larger share of single-family homes.