Biden Proposes Nationwide Rent Control with 5% Cap on Corporate Rents

Jul 11, 2024, 11:43 PM

In a recent statement, President Joe Biden suggested implementing a nationwide rent control policy, capping rent increases at 5% for corporate rents, apartments, and homes. This proposal appears to expand significantly beyond the White House's previous endorsement of a 10% cap for a limited number of public housing units. The statement has led to widespread speculation and confusion about whether the administration is now advocating for universal rent caps. Biden's remarks have sparked debate about the feasibility and potential impact of such a policy on the housing market.