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.
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.
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?
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.
You will own nothing, and you will be happy.........or not.!
keep the feds out!!!!!
When I moved to LA years ago, a friend of mine owned a small apartment building in Santa Monica. He offered me an recently vacated apartment but it came “as is”. It was disgusting - filthy and just gross. Cheap, yes, but because of rent control, the owner had no money to clean or update the apt. or the building. But, of course, he HAD to have solar panels, etc. installed. I ran like the wind and moved to Brentwood. I still detest Santa Monica.
If this passes we can add another crime to FJB’s list; Rent gouging. He charged his own son $50,000 a month for rent.
See link below to read the destructive force that rent control is.
https://www.aier.org/article/the-perpetual-tragedy-of-new-yorks-rent-control/
“Renters Bill of Rights” means landlords are slaves with no rights.
No legal authority for this whatsoever. My guess is that it is an extortion campaign directed at any publicly traded rental companies. Any problems can probably be cured with a fat payment to the DNC or a fat retainer for Perkins Coie.
Housing shortage will be exacerbated, and existing stock will get crappier. Landlords will divest, and the federal government will take over, and what will be left is high-rise housing projects like those on Mother Gaston Blvd. in Brooklyn, or Cabrini Green in Chicago, from sea to shining sea. Fun, fun, fun, since daddy nationalized the T-Bird and turned it into Amtrak.
How about a property owners’ bill of rights? My wife has talked on occasion about building apartments and renting them for an income. But stuff like this keeps happening and there is just no way I could see us taking such a risk.
Call Rent Control What It Really Is: Theft
And Deep State really doesn't like competition.