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.
  • @friend_of_satan@lemmy.worldEnglish
    7•5 months ago

    You’re right. It’s a little late. Let’s just not do it. 🙄

    Edit: this “too little too late” attitude is short sighted and egocentric. Even if limiting rent increases does not have a direct effect on even a majority of individuals today, it will surely someday have an effect on somebody. If the last 8 years of political and legal turbulence has taught us anything, it’s that we need to legally codify things that are “common sense”. Not limiting rent increases now because it doesn’t have an effect now ignores the entirety of future circumstance. We need to codify laws now that make the future better for our children, if not for us. Not doing so is short sighted and egocentric. We need to think futuristic and humanistic. We need to think objectively rather than relative to our current state.

      • @friend_of_satan@lemmy.worldEnglish
        4•5 months ago

        Fed interest rates are almost the exact same 5%. Is that a problem? If so, then saving 5% is a solution. Is it the whole solution? No. But nothing ever is.

              • @friend_of_satan@lemmy.worldEnglish
                2•5 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
                  -2•5 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•5 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).