Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
apnews.com
President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords.
    • SeattleRain@lemmy.worldOPMEnglish
      21·
      4 months ago

      I understand interest rates, what does that have to do with an ineffective rent cap?

      • friend_of_satan@lemmy.worldEnglish
        2·
        4 months ago

        Would a 5% raise solve your financial problems? Probably not. So then, would you turn it down? Financial success is multi-faceted. No one solution will get you there. Take what you can and build up layer by layer.

        • SeattleRain@lemmy.worldOPMEnglish
          24·
          4 months ago

          You’re not as clever as you think. That’s not equivalent. You still get something out of a small raise.

          You get nothing from a rent cap it rents have stopped rising. He should have done this 4 years ago.

          This is not a multifaceted solution. It’s an impotent one intended to fool people into believing he’s making bold moves against rent inflation.

          • friend_of_satan@lemmy.worldEnglish
            2·
            4 months ago

            I’ve had my rent go up 20% in a single year ($1200 to $1450 monthly). 5% rent cap would have been more raises than I got in the next 5 years ($0).

            • SeattleRain@lemmy.worldOPMEnglish
              14·
              4 months ago

              And now in the present rents are declining. You’re just being obtuse, probably a Biden supporter.