The Biden administration moved this week to limit how much rent can rise in certain affordable housing units across the country. While some housing experts criticized the move, tenant advocates said the new rule, which will cap rent increases at 10%, will help people to stay in their homes. "The rent is still too damn high, but this cap will provide stability to more than a million tenants," said Tara Raghuveer, the director of the National Tenant Union Federation.
"Rent control has consistently proven to be a failed policy that discourages new construction, distorts market pricing, and leads to a degradation of the quality of rental housing — the exact opposite of what is currently needed in markets throughout the country," Broeksmit sai
Biden Administration Rent Cap Affordable Housing Stability Tenant Advocates
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden administration to cap rent increases for some affordable housing unitsThe move was hailed by tenant advocates and criticized by others in the housing industry.
Source: washingtonpost - 🏆 95. / 72 Read more »
Biden bumbles toward war: U.S. policy favors Iran over IsraelThe Biden administration has pretty much mismanaged everything a presidential administration can mismanage.
Source: WashTimes - 🏆 235. / 63 Read more »
Biden to target ‘rent gouging' landlords, as high housing costs factor into 2024 raceFebruary’s 0.4% rise in consumer prices was driven largely by housing and energy costs.
Source: nbcchicago - 🏆 545. / 51 Read more »
Rent Increases Are Driving Inflation — and Pessimism About Economy Under BidenDemocrats say the economy is great, but millions of tenants are struggling to pay historic rent increases.
Source: truthout - 🏆 69. / 68 Read more »
Biden administration approves the nation's seventh large offshore wind projectThe Biden administration greenlit the seventh large offshore wind project in the United States Tuesday. Danish wind energy developer Ørsted and the utility Eversource plan to build a 924-megawatt project, Sunrise Wind, east of Montauk, New York. They say the wind farm will power about 600,000 New York homes when it opens in 2026.
Source: AP - 🏆 728. / 51 Read more »
Why the Biden Administration Is Suing Apple and Investigating Big GrocersJohn Cassidy writes about a new generation of trustbusters who are trying to use anti-monopoly laws to roll back concentrations of economic power.
Source: NewYorker - 🏆 90. / 67 Read more »