Responding to a letter sent earlier this month by congressional radicals like Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez urging the president to take executive action to prevent evictions and lower rent prices, Joe Biden has initiated a series of actions that will eventually lead to a national rent control law.
Under the Biden plan, the president is directing the Federal Housing Finance Agency (FHFA) to look at limits “for future investments and actions promoting renter protections,” according to a report in Yahoo Finance.
The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have been enlisted to “root out practices that unfairly prevent applicants and tenants from accessing or staying in housing,” according to the report.
Please define “unfairly.” I don’t think that Senator Warren or AOC define the term the same way that you, I, or most landlords would define it.
“In the absence of robust investments in fair and affordable housing, it is clear that additional timely executive action is needed to address the urgent issue of historically high rental costs and housing instability,” the lawmakers wrote. “We urge your Administration to pursue all possible strategies to end corporate price gouging in the real estate sector.”
Specifically, lawmakers had called on the president to direct the FTC to issue new regulations defining excessive rent increases and enforce actions against rent gouging, suggestions that are [morel ] aggressive than what the administration has so far put forth. Read more…