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re: Biden to announce plan to cap rent increases at 5% annually. OP updated with announcement
Posted on 7/16/24 at 8:56 am to GetCocky11
Posted on 7/16/24 at 8:56 am to GetCocky11
quote:
"community fee"
"amenities fee"
"trash fee"
The cost of everything has just gotten ridiculous.
0
Posted on 7/16/24 at 8:56 am to HoustonGumbeauxGuy
quote:
Renters are about to start seeing random fees to make up for the 5% cap
This is it right here. Here comes the delivery fee for an apt.
Posted on 7/16/24 at 8:59 am to stout
Biden solves a problem for one group and puts the problem on another group...Instead of heaping the problem on the landlords.. Why doesn't he address why the landlords are raising the rent.. Freeze or lower property tax.. Do something about the crazy home owners and flood insurance rates... That way you can not only help landlords but private homeowners as well...
Same thing with the school loans... He heaped the responsibility on taxpayers to pay the loans back.. He should have scraped the interest and just have the people who took out the loans pay the principle...
I am sure it is more complicated than my thoughts but my point is helping a small group while screwing another... The problems don't go away.. it just moves.. Robbing Peter to pay Paul..
Same thing with the school loans... He heaped the responsibility on taxpayers to pay the loans back.. He should have scraped the interest and just have the people who took out the loans pay the principle...
I am sure it is more complicated than my thoughts but my point is helping a small group while screwing another... The problems don't go away.. it just moves.. Robbing Peter to pay Paul..
Posted on 7/16/24 at 9:00 am to TigerV
quote:
This is it right here. Here comes the delivery fee for an apt.
Convenience fee
Posted on 7/16/24 at 9:08 am to fallguy_1978
quote:
Convenience fee
Forgot about that one, they charge me a convenience fee when I pay rent
Posted on 7/16/24 at 9:21 am to stout
The Demoncrats always respond with knee-jerk solutions to appease a certain voting group. Call it pandering in desperation!
What gives them the right to limit the free market system? Supply and demand should be the driver, not a Demoncrat mush-head who is losing his voters left and right!
What gives them the right to limit the free market system? Supply and demand should be the driver, not a Demoncrat mush-head who is losing his voters left and right!
Posted on 7/16/24 at 9:26 am to OWLFAN86
quote:
With Communist Expect Communism
Where oh where has JerseyTiger gone.
Posted on 7/16/24 at 9:29 am to stout
It’s never lower taxes. It’s always frick the consumer.
Piece of shite human beings in DC.
Piece of shite human beings in DC.
Posted on 7/16/24 at 10:02 am to stout
1. Dont renew
2. Increase 10% and list
2. Increase 10% and list
Posted on 7/16/24 at 10:43 am to stout
Rent control never works. He is just looking for votes in desperation,
Posted on 7/16/24 at 12:13 pm to rd280z
quote:This time will be different! Tell me again who wants to be a dictator?
Rent control never works.
Posted on 7/16/24 at 12:36 pm to stout
quote:
he tries to show he's doing something about the high cost of housing,
If that isnt 95% of politics today.
Also, what a fricking dumb idea.
Posted on 7/16/24 at 1:45 pm to stout
Is this another example of solving a problem that really doesn't exist?
So Biden takes office in January 2021, depending on when the median national rent rates are evaluated, would this 5% cap really do much?
If you assume a Jan 1 increase across the board, a 7% increase would have the average go from $1,150 in 2021, $1,231 in 2022, $1,317 in 2023, and $1,409 in 2024.
If you assume a June 30th increase (since they are comparing January 2021 to June 2024), it will take a 5.25% increase to go from $1,150 in Jan 2021, $1,210 in June 2021, $1,274 in June 2022, $1,341 in June 2023, and $1,411 in June 2024.
Of course, there is no set time when rents go up, so the timing of any study could easily sway the narrative
quote:
President Joe Biden is ready to propose a 5% cap on annual rent increases
The median national rent was $1,411 a month in June, up from roughly $1,150 in early 2021
So Biden takes office in January 2021, depending on when the median national rent rates are evaluated, would this 5% cap really do much?
If you assume a Jan 1 increase across the board, a 7% increase would have the average go from $1,150 in 2021, $1,231 in 2022, $1,317 in 2023, and $1,409 in 2024.
If you assume a June 30th increase (since they are comparing January 2021 to June 2024), it will take a 5.25% increase to go from $1,150 in Jan 2021, $1,210 in June 2021, $1,274 in June 2022, $1,341 in June 2023, and $1,411 in June 2024.
Of course, there is no set time when rents go up, so the timing of any study could easily sway the narrative
Posted on 7/16/24 at 1:49 pm to stout
This fool has been in politics 50 years and never did anything but lie and use his "Public Service" position to make his family rich.
Posted on 7/16/24 at 1:56 pm to stout
It’s bad policy, but so are special tax breaks. Just get rid of the tax breaks.
This business of throwing one person’s tax liabilities onto the backs of others is ridiculous.
This business of throwing one person’s tax liabilities onto the backs of others is ridiculous.
Posted on 7/16/24 at 2:49 pm to grizzlylongcut
quote:
It’s never lower taxes. It’s always frick the consumer.
No kidding. How about just lower the federal income tax rate. Maybe keep some of the money that is constantly sent to Ukraine so people with money will have a little extra to support lower paying jobs.
If I'm running low on funds, you can bet I'm not hiring a lawn guy, a pool guy, a cleaning crew. I'm not buying art/furniture/extra clothes, going to concerts, sporting events, etc. I'm certainly not eating in restaurants, buying fast food, or getting my nails done.
Posted on 7/16/24 at 3:17 pm to stout
Wont pass the scrutiny of any court but
"The price cap would not apply to units that have yet to be built."
If it did that would lead to a rental building boom that would facilitate a slow down in increased rent in existing rentals.
A bad idea but we do need more affordable rentals in the US. Making it tax advantageous to keep rent increases to a minimum is a far better idea.
"The price cap would not apply to units that have yet to be built."
If it did that would lead to a rental building boom that would facilitate a slow down in increased rent in existing rentals.
A bad idea but we do need more affordable rentals in the US. Making it tax advantageous to keep rent increases to a minimum is a far better idea.
Posted on 7/16/24 at 3:20 pm to stout
quote:
Do you want people to convert rentals to more AirBNBs because this is how you make that happen
Air BNBs are being banned by local governments left and right. Where it is not happening through government action HOAs are doing it retroactively without anyone voting for a damn person involved. People do not want low rent housing in their neighborhood but they really do not want the house down the street to be a motel.
Posted on 7/16/24 at 3:20 pm to stout
He is such an awful, awful President.
As an owner of rental houses, a couple of which are occupied by single mothers, I've tried to keep rent increases to a minimum. I've kept it below 5% annually for sure. But, if this passes, you know what I'll do automatically? Raise rent yearly by the max allowed.
And, as many have said, how about some reform to keep property insurance from going batshit crazy?
As an owner of rental houses, a couple of which are occupied by single mothers, I've tried to keep rent increases to a minimum. I've kept it below 5% annually for sure. But, if this passes, you know what I'll do automatically? Raise rent yearly by the max allowed.
And, as many have said, how about some reform to keep property insurance from going batshit crazy?
Posted on 7/16/24 at 7:11 pm to stout
OP updated. He officially announced it during his NAACP speech today
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