Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords.
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Treating the symptom.
Okay I guess. I'll get excited when I see a plan to treat the disease.There’s no reason to get excited at all. Biden can call for it, but Congress has to write and pass the legislation. Republican House majority won’t let that happen.
Vote in November.
Not even. Can't charge more for rent when it's already max out against income. It's a placebo that'll have zero effect. Don't get too excited about a "plan". This is the plan.
What world are you living in when they can't raise rates too high for your income level? Not the one the rest of us are living in.
The vast majority of individuals must be able to afford to house, feed, and cloth themselves, as well as travel to and from work. If not they will riot. This is bad for economic growth, the mandate of capitalism. It's particularly bad when the market is still significantly inflated relative the economy.
It'll never be written into law. However, Biden's proposed rent caps under projected inflation, signifying rent has fully saturated its allocation of income. Housing began balancing systemically naturally, human sellers drying up. Landlords have no obstacles.
I live in a world of nuance. The rent sucks.
Historically that's actually not what causes people to riot. The slow chipping away actually almost never causes riots. It's the immediate stripping of a right or privilege. Look back at history that's how it Works nearly every single time. You're basically making the same argument people who you sanctions as a political tool make. That if you keep making life shittier and shittier and shittier slowly the people will riot. Doesn't work.
Furthermore capitalism does not possess the capacity to change in that manner. It does not possess the capacity to adjust to the needs of the masses. Thinking capitalism will fix this is insane.
If you look at history, the last half century is far from "slow chipping away".
The last half century of political sanctions? What does that even mean? I feel like you were trying to be clever and you lost the point somewhere. If you ever had one.
I responded to the part that wasn't strawman with a response of equivalent quality, simple clarification of the point of disagreement.
Why do you expect more than you give?
I would expect a coherent thought but after four comments you haven't given one once.
Read more books.
Best of luck.