Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
apnews.com
President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords.
  • friend_of_satan@lemmy.worldEnglish
    5·
    2 months ago

    Fed interest rates are almost the exact same 5%. Is that a problem? If so, then saving 5% is a solution. Is it the whole solution? No. But nothing ever is.

        • SeattleRain@lemmy.worldOPMEnglish
          21·
          2 months ago

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

          • friend_of_satan@lemmy.worldEnglish
            2·
            2 months ago

            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@lemmy.worldOPMEnglish
              24·
              2 months ago

              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@lemmy.worldEnglish
                2·
                2 months ago

                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@lemmy.worldOPMEnglish
                  14·
                  2 months ago

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