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 ...
SECOND THAT..!!!!!
Call Rent Control What It Really Is: Theft
And Deep State really doesn't like competition.
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