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·
    2 months ago

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

    • friend_of_satan@lemmy.worldEnglish
      2·
      2 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·
        2 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·
          2 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·
            2 months ago

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