Housing Bubble 2: Return of the Ugly

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SeattleRain

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A little late (apnews.com)

submitted 4 months ago by SeattleRain to c/housing_bubble_2

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cross-posted from: https://lemmy.world/post/17616123

Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation

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[–] SeattleRain 1 points 4 months ago (1 children)

I understand interest rates, what does that have to do with an ineffective rent cap?

[–] friend_of_satan 2 points 4 months ago (1 children)

Would a 5% raise solve your financial problems? Probably not. So then, would you turn it down? Financial success is multi-faceted. No one solution will get you there. Take what you can and build up layer by layer.

[–] SeattleRain -2 points 4 months ago* (last edited 4 months ago) (1 children)

You're not as clever as you think. That's not equivalent. You still get something out of a small raise.

You get nothing from a rent cap it rents have stopped rising. He should have done this 4 years ago.

This is not a multifaceted solution. It's an impotent one intended to fool people into believing he's making bold moves against rent inflation.

[–] friend_of_satan 2 points 4 months ago* (last edited 4 months ago) (1 children)

I've had my rent go up 20% in a single year ($1200 to $1450 monthly). 5% rent cap would have been more raises than I got in the next 5 years ($0).

[–] SeattleRain -3 points 4 months ago

And now in the present rents are declining. You're just being obtuse, probably a Biden supporter.