Treating the symptom.
Okay I guess. I'll get excited when I see a plan to treat the disease.
this post was submitted on 16 Jul 2024
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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.
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Cool, my rent is still 70% of what I make in a month. It's almost like it's already too late, but I'm too poor and uneducated to be an expert. Got any other ideas?
The best time to do it was any point in the last 100 years. The second best time is now.
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5% is crazy talk when workers wages are going up 2.5% per year. Landlords need at least 20% more every year.
But if it pass, then it is first win. I fear that landlord are not going to let it happen without a fight
You gotta get something that will pass
This is what happened in California. The statewide rent control is 5% plus inflation per year, capped at 10% per year. There's a bunch of exclusions too, like the property has to be at least 15 years old, and single-family homes that aren't owned by a corporation are excluded too. I think the builders and landlords had quite a bit of a say in it, hence the limit being so high above inflation (assuming inflation of <=5%).
Still a lot better than it used to be. It applies to month-to-month rentals too, so you can get the flexibility of a month-to-month rental while still having a limit on the rent increase per year. Evictions also need to have just cause and there's a notice period of 60 days if the tenant has lived there for longer than a year.
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Man this entire thread is just a perfect encapsulation of the perfect being the enemy of the good. What a bunch of useless chuds.
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we have several lifetimes worth of policies to change to fix the mess we are in. this is exactly what Biden should be doing, passing policy after policy in the next few months that have obvious positive results for the common voter. he's not gonna run out of stuff to do if he's re-elected, so he needs to stop holding onto this shit like it's his last wild card of all time.
But that might upset his owners, I mean campaign contributors.
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Woah, an actual campaign promise? Maybe the Dems do want to look like they're trying after all.
If Democrats kept their promises we'd have codified Roe, have free healthcare for all, and literally no one would carry student debt but those that haven't yet had time to graduate.
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Where I live we've had a 4% cap for a long time. It just means tenants get evicted to increase the price. It's illegal, but the procedure to after landlords cheating the system is so grueling and adversarial, it puts justice beyond the reach of many victims. I can only imagine this being even worse in the US.
If this caps rent even if the tenant changes it'd be something. I don't see how this passes an R house or gets through the "moderate" Dems in the senate.
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That’s great!!!
Need to stop corporations buying houses next, and tamper foreigners buying up houses too (almost every country I’ve traveled to won’t let me buy so why not do the same?)
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3 years of absurd rent prices and we are just now seeing legislation, wonder why......
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As if it would ever last the captured supreme court.
Would be good if he coupled it with a promise to stack the Supreme Court
A sensible, too-little-too-late rule, probably full of carveouts and exceptions, that I nonetheless feel really relieved to see. Delayed and watery regulation is better than none, I suppose.
I suppose he has to do something to signal to voters that he's going to try to fix the housing affordability crisis, but this is pretty meaningless. But, what can he say? The truth? That the housing crisis is an extremely complex problem that will take decades to fix? Probably not going to go over very well.
Not allowing landlords to drive people into homeless on speculation and greed is a good first step to solving the very complex problem that will take decades.
How is this meaningless?
Well, for one, it almost certainly won't pass. So the chances of it becoming law in the first place are pretty low. But even if it were passed, I think it would be difficult to enforce. Even if it were enforced, landlords would just hike the rent 4.99% every year.
4.99% is way better than the 50% my previous landlord tried. You can always vote Republican if you want. See what they're going to do for you.
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Let's build a million new homes and sell them to people that don't currently own any homes.
Let’s ~~build~~ seize a million new homes and sell them to people that don’t currently own any homes.
FTFY
Fuck these ogres hoarding real estate.
There's no shortage of homes in the US. They're just being hoarded for their increasing value.
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In my province the cap for increase was usually around 1.5 - 2% for existing tenants/renewing lease.
The conservative gov went ahead and fucked everything up and said this doesn't apply to anything built after 2005, or new builds - that means any new anything in an existing building.
New basement rooms? No cap. (No cap) But, if the basement had rooms 35 years ago, and you 'build' "new" rooms, it isn't new and falls under the older more tenant friendly laws.
However, between tenants, a landlord can do whatever the fuck they want to prices.
Shitty rooms went from 375 to 700 I'm 5 years.
Hello fellow Ontarians. I feel your pain. It may be little solace but know I bought a house with a basement tenant 3 years ago. Their rent was $1100 a month for a 1 bedroom 3 years ago and it's 1100$ a month now. I don't need the money. Fuck landholding pariahs taking advantage of renters.
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Hasn't rent control been shown to be ineffective at making everyone play nice? I feel like it's much more effective to put your finger on the supply/demand balance by subsidizing the supply side.
And not by just giving handouts to corporate landlords, either.
Hasn’t rent control been shown to be ineffective at making everyone play nice?
It's proven effective at causing landlords to scream and cry and publish 10,000 word Op-Eds about how they're going to do a capital strike if the rules aren't changed.
But, when paired with new investment in public housing, its incredibly effective at keeping rental costs stable long term.
Just like with unions, you know it's good for the common people, because the business and property owners speak out against it so strongly. If it's pointless, they could just let it happen. But instead, they rally against it. So you know they're lying when they say it won't matter.
It will matter.
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I'm sure this comes with a guaranteed 5% increase to minimum wages at the same time right? ... right? Any amount of minimum wage increase from the last increase 15 years ago?
Prices are already jacked up to an insane level compared to wages, the horse is already out of the barn: This is not going to fix the problem renters face.
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Timely.
That translates into rents doubling in less than 15 years
Well mine went up 28% in a year so I’ll take 5%
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