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
    211·
    2 months ago

    You can do it, it’s just not going to help anyone now that rents are declining after doubling.

    • friend_of_satan@lemmy.worldEnglish
      4·
      2 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.

          • 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.