Biden Proposes 5% Rent Control Cap

archives said:
It is only meant as a temporary fix to deal directly to the current situation, can’t see how this is going to drive up prices today even further
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If only life were so easy. It's not a temporary fix and it drives up prices long term. From a political perspective politicians don't care because they are only worried about today. But if you understand how markets and financing work then you understand why so many people (including liberals) are speaking out against it.
 
cawacko said:
It’s election season so that means politicians do what they do best, propose horrible economic ideas under the guise of looking like they are doing something “for the people”. This is one of them.

Rent control does one thing really well, reduce incentives to build and increase prices. Because he’s trying to tie it to corporate landlords it could play well to those who don’t understand how markets work.

The only saving grace is it will probably not become legislation.

https://twitter.com/x/status/1812918420423254480
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only on landlords that own 50 or more units
 
This is a great place to point out that the Revolution intends to federalize everything....something that I have been pointing out for about two years...there will be no protecting yourself by living in a so called Red State.
 
archives said:
Not really fond of addressing tweets, but you are aware, as I noted, it is a two year program, and effects landlords who only own more than fifty properties. It also doesn’t include new construction and is levied via reducing tax benefits for those that violate the five percent
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and yet you can't even tell us what these imagined "tax benefits" are.......except they aren't deducting expenses, they aren't depreciation, and they aren't directed at specific programs in place for low income or senior housing (what are commonly known as "subsidized" housing)......
 
cawacko said:
It’s election season so that means politicians do what they do best, propose horrible economic ideas under the guise of looking like they are doing something “for the people”. This is one of them.

Rent control does one thing really well, reduce incentives to build and increase prices. Because he’s trying to tie it to corporate landlords it could play well to those who don’t understand how markets work.

The only saving grace is it will probably not become legislation.

https://twitter.com/x/status/1812918420423254480
Click to expand...
Price controls never work. They always do the same thing: shortages.

It doesn't matter if it's rent controls causing a housing shortage or minimum wage controls causing shortages in jobs or gas price controls causing long lines at gas stations that refuse to sell it at a loss.
 
archives said:
Certainly an election year promise, currently it wouldn’t stand a chance in Congress, but you can not say Biden is the only politician to make populist promises during the campaign season

And if I am not mistaken, admitting I only know about it from what I read in the AP, it would only be a two year program, and effects landlords who only own more than fifty properties. It also doesn’t include new construction and is levied via reducing tax benefits for those that violate the five percent

Interesting given that many of those larger landlords received direct government aid during Covid and now that they are benefitting from a tight market are complaining on temporary limits on rents
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Unconstitutional, Anchovies.
 
Into the Night said:
Price controls never work. They always do the same thing: shortages.

It doesn't matter if it's rent controls causing a housing shortage or minimum wage controls causing shortages in jobs or gas price controls causing long lines at gas stations that refuse to sell it at a loss.
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The goal is to ruin landlords in the pursuit of ending private property ownership.

"You will own nothing, and you will be happy" is the directive from WEF/CCP.
 
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