In a swift move to “empower” tenants, the Joe Biden administration is working up a new plan that is already alarming the housing industry.
The White House’s new rules are designed to protect tenants in the wake of post-pandemic price spikes.
According to housing advocates and industry lobbyists who have met with Biden admin officials, these new measures could be expected to roll out as soon as this month.
For those who remember, this entire housing debacle started during Covid. Landlords were barred from evicting delinquent tenants because they were living amidst an emergency. And apparently unable to make good on payments.
Like most moves from the Biden White House, the Supreme Court eventually shot down the whole program by deeming it unconstitutional. Now, Biden is working to find yet another loophole to feed his so-called tenant empowerment endeavor.
Good. I hope this happens. Not because I believe it’s what’s right for the tenant, but this action, this absolutely stupid action, will case a huge collapse in the available housing industry. I simply cannot understand while people are incapable of understanding the basics of Economics 101.
But who is going to protect the owners of the rental properties? ….. (Hint: You can bet it won’t be the banks or the mortgage holders)
This is so funny and so timely. While so many of you, like 12:27, sympathize with the property owners who need to be paid in accordance with their lease agreements (and I believe rightfully so), at the same time the MAGA heroes in the House of Representatives are posturing to threaten our nation’s determination to pay the bills we’ve previously agreed to. So which is it for you? Increase the debt limit to pay the bills for what we’ve already bought (which should unquestionably be done), or fail to abide by our financial commitments? If you want tenants to pay, shouldn’t the USA pay our bills as well? As Congress, feel free to negotiate future legislation so as to spend less money, but don’t we need to pay for what we already agreed to? Of course we do. Tell your MAGA representatives that if they fu*k around with that they can count on being unelected next time.
Maybe some type of rent control is needed? I’m all for a free market, but when the entire rental market in Salisbury, MD. increased 30% in 2022, I call it nothing but greed!
If it was just greed then some landlords would offer lower rates to capture more marketshare. Free market competition at work. Otherwise it is what it is. Unless there’s monopolization in which case antitrust law should be deployed.