Yep.
Posted on 01/25/2023 8:47:07 AM PST by Oldeconomybuyer
In the face of sky-high rents, President Joe Biden is rolling out a new set of principles the White House is calling a "Renters Bill of Rights" in an effort to improve rent affordability and protections for tenants.
The president is directing the Federal Housing Finance Agency (FHFA) to examine limits on rent increases for future investments and actions promoting renter protections. The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have been tapped to root out practices that unfairly prevent applicants and tenants from accessing or staying in housing.
This rollout comes as progressive Democrats have asked Biden to direct different agencies, including the FTC, to limit rent increases. While rent control is common in some cities, there has never been federal residential rent control.
Specifically, lawmakers had called on the president to direct the FTC to issue new regulations defining excessive rent increases and enforce actions against rent gouging, suggestions that are aggressive than what the administration has so far put forth. The letter also asked to have FHFA put in place rent protection for tenants living in properties financed with government-backed mortgage properties, which is more closely aligned with what the president outlined on Wednesday.
(Excerpt) Read more at news.yahoo.com ...
The federal government has no authority on housing or rent control. They can enforce anti discrimination legislation and subsidize what they want (arguably), but the states exclusively have the right to manage housing and rents.
We’d better be thankful the Constitution prohibits the Fed gov from taxing real property under our alloidial system of property ownership.
Hah! You bet he will. Then jet off to whatever that tropical place was that he used in the Obamacare case, cynically to shield himself from inquiry/accountability/antipathy.
Yep.
Here’s another one of those things that will become even more screwed up with the federal government entering the situation.
My take? This is just more fodder for the leftist voters and freeloaders. This will gain as much traction as his BOGUS Student Loan Forgiveness program.
Both have been, and will be, struck down in court. Maybe?
Ugh! How I LOATHE these people! And I am so, SO happy I am debt free and no longer renting out properties and flipping houses!
Deep State doesn’t like competition.
The messes government ‘do gooders’ create far outweigh any assumed benefit. I wouldn’t want to be a landlord in CA. Unless of course I’m renting fancy trash cans in some sweetheart crony deal to a state agency.
pedoPIG is like a feral hog gone wild in a china shop.....
I guess office buildings averaging less than half capacity isn’t enough. They want rental apartment real estate to crash, too.
Well, maybe the new normal. Inflation works on rent too.
Rent control is a very bad idea whose time has not come. My state of Oregon passed statewide rent control in 2019. In less than 2 years it produced a statewide shortage of rental units, and higher rents than ever before -- the old double whammy.
As a landlord I have not had a vacancy since the law passed. I call it The Landlord's Full Occupancy Act of 2019.
I used to teach the Constitution to 7th graders. We went though it line-by-line, so I have a pretty good idea of what’s in there. Don’t believe controlling rent is one of the enumerated powers. Perhaps someone can point out the relevant provision to me.
Rents are high because of strict local and state zoning laws and so-called green energy rules that restrict the building of new units. This will further decrease the supply and allow Blackrock to buy up the remaining units to house illegal aliens.
With that said, Biden doesn't have Constitutional Authority to do this. Period.
Same as when he tried forgiving making taxpayers pay for student loans they didn't take out.
This won't pass Constitutional muster for a single second. This is political pandering at it's absolute worst.
Blackrock is in on this. Their REITS soak up the units from defaults. (They get the free money from the Fed Res.). The plan is to destroy the small time landlords.
Another great thing to rent in Ca. right now would be porta potties for all of the homeless!!
Is he going to put a limit on rate increases? Because a lot of owners renting those places out don’t own them outright but instead make payments.. and their cost for the property has skyrocketed due to the insane interest rate increases.. They HAVE to increase rent to match, otherwise, they might as well just give the property away. How come they have to suffer through it?
And now Blackrock is involved in Ukraine. They’ll rebuild Ukrainian homes...and rent them out.
Once again, this administration gives the middle finger to the Constitution.
And opens arms for communism another one on the list checked off.
Dead on arrival in the House and probably the Senate.
Fedzilla does whole lot of things, vigorously defended on this forum, that are not among the enumerated powers.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.