Biden to reportedly unveil cap rents program
amid GOP convention
Breaking The News (Vienna, Austria),
by
Christian Baha
Original Article
Posted By: Dreadnought,
7/15/2024 3:17:45 PM
United States President Joe Biden is set to reveal a nationwide plan to cap rental costs, according to three sources cited by The Washington Post on Monday.
This announcement, expected in Nevada on Tuesday, addresses growing voter frustration over skyrocketing housing prices, especially in Nevada where citizens have experienced surges in housing costs, Biden aims to bolster his economic standing among voters.
The proposal includes eliminating a tax benefit for landlords raising rents by over 5% annually, affecting those owning more than 50 units. This move seeks to protect tenants without discouraging new construction.
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Reply 1 - Posted by:
dst4life 7/15/2024 3:21:25 PM (No. 1757412)
The idiot-in-chief still rules like an idiot. Price caps don't work. Rental businesses will go out of business.
Thanks for another failure, Biden!!
62 people like this.
Reply 2 - Posted by:
DVC 7/15/2024 3:21:57 PM (No. 1757414)
Another destructive Communist price control scheme from Traitor Joe.
56 people like this.
Reply 3 - Posted by:
caljeepgirl 7/15/2024 3:27:06 PM (No. 1757424)
Constitution be damned!!
39 people like this.
Reply 4 - Posted by:
Nimby 7/15/2024 3:27:36 PM (No. 1757425)
He thinks he is upstaging RN Covention! LOL
38 people like this.
Reply 5 - Posted by:
Nimby 7/15/2024 3:28:01 PM (No. 1757426)
*Convention* not Covention.
9 people like this.
Reply 6 - Posted by:
Italiano 7/15/2024 3:28:51 PM (No. 1757428)
You can’t say that the shuffling corpse is ducking the major issues.
What’s next, cracks in the nation’s sidewalks?
28 people like this.
Reply 7 - Posted by:
downnout 7/15/2024 3:30:43 PM (No. 1757431)
That proposal sounds very authoritarian and tyrannical. Next up Potatus will dictate you can only sell your home for a small profit.
45 people like this.
Reply 8 - Posted by:
LanceLink1 7/15/2024 3:35:27 PM (No. 1757434)
Production control (EV mandates, billions to auto industry for plant upgrades), price control (prescription meds) and threats to grocers, persecution of political opponents, providing weapons and aid for foreign wars, state control media - and now rent control?
Y'all be standing in a four hour line for sawdust infused bread if this guy has his way.
40 people like this.
Reply 9 - Posted by:
IceQueen 7/15/2024 3:47:04 PM (No. 1757440)
B'H
Once again, we see that one’s own property is not one’s own property. Slowly, then suddenly. The sock puppet biden, his handlers and betters, supporters, hanger oners, etc., DO NOT give one flying rat’s behind about regular, MAGA, hard working, Scripture believing Americans, like you and me. Semper vigilants: pray according to His Word: “. . .then, if my people, who bear my name, will humble themselves, pray, seek my face and turn from their evil ways, I will hear from heaven, forgive their sin and heal their land. Now my eyes will be open and my ears will pay attention to the prayer made in this place.” 2 Chronicles 7:15*15. Complete Jewish Bible
23 people like this.
Reply 10 - Posted by:
stablemoney 7/15/2024 3:49:00 PM (No. 1757444)
Biden proves again that he is the stupidest of the dumb.
26 people like this.
Reply 11 - Posted by:
learner 7/15/2024 3:52:32 PM (No. 1757449)
If this happens I predict a lot of apartments will be converted to Condos that would turn the renters into the unhoused. Win/win for the big guy.
31 people like this.
Thereby making the housing and homeless crisis worse.
Making laws against supply and demand are about as effective as laws against gravity.
34 people like this.
Reply 13 - Posted by:
marbles 7/15/2024 3:55:32 PM (No. 1757453)
# 10 Don't blame joey. He's only a reader, and not very good at that, he has no input on anything
19 people like this.
Reply 14 - Posted by:
RobertJ984 7/15/2024 3:59:12 PM (No. 1757456)
Waited for the RNC ehh?
Democrats...You can't win. Just let Joe finish out the election, and ride off into the sunset...LOSER
16 people like this.
Reply 15 - Posted by:
paral04 7/15/2024 4:01:10 PM (No. 1757459)
Landlords have insurance, repairs, upkeep and taxes to pay which keep going up at rates higher than 5% a year. If I owned an apartment I would turn it into a condo and sell the blooming thing out.
28 people like this.
Reply 16 - Posted by:
DVC 7/15/2024 4:01:39 PM (No. 1757460)
Re #11. Exactly. If the rents can't be raised as the currency is inflated by the government, then the owners will sell them off as condos, and screw any renters.
Like minimum wage laws....people discover that the REAL minimum wage is ZERO when you get fired or not hired because you aren't worth the minimum wage.
Same for rents. Renters will discover that there are no places to rent at those nice low government rents.
27 people like this.
Reply 17 - Posted by:
whyyeseyec 7/15/2024 4:07:58 PM (No. 1757466)
Capping rents is the same as raising the minimum wage to $20/hr. It will backfire as everything the govt does. Stupidity on display.
28 people like this.
Reply 18 - Posted by:
MsMontana 7/15/2024 4:16:21 PM (No. 1757475)
Is he going to cap property taxes, or let his cronies pick up rental properties for Pennie’s on the dollar when landlords can’t pay the increased property taxes?
19 people like this.
Reply 19 - Posted by:
sw penn 7/15/2024 4:16:29 PM (No. 1757476)
More economic meddling by people who can't even balance their own checkbooks.
How in the world do rent caps do anything
to help the smoldering commercial real estate crisis?
This will only set small to medium banks on fire!
16 people like this.
Reply 20 - Posted by:
planetgeo 7/15/2024 4:19:40 PM (No. 1757480)
Listen to me now and hear me later...Democrats are born without the Math gene. Thus, they have no idea how a market economy really works. So they come up with rosy-sounding ideas that dependent people love but which destroys the economy and makes things even worse for everyone, including the dependent people. Like rent-control. And EVs required for everyone. Etc., etc.
22 people like this.
Reply 21 - Posted by:
Strike3 7/15/2024 4:21:59 PM (No. 1757484)
Typical stupid Biden logic. Continue to raise costs on landlords but limit their income. Do that to somebody that needs price caps like Ford and GM. They wouldn't add ten thousand dollars worth of useless electronic gadgets to every car if they couldn't make a profit on it.
16 people like this.
Reply 22 - Posted by:
padiva 7/15/2024 4:24:38 PM (No. 1757486)
Joe, joe, joe! Read the 10th Amendment to the Constitution.
You can not overlord the Constitution.
18 people like this.
This proposal could backfire by baking an assumed 5% annual increase in rental rates compounded over time into the inflation cake. How would we ever return to 2% annual inflation with rental costs increasing 5% each year?
10 people like this.
Reply 24 - Posted by:
DVC 7/15/2024 4:39:08 PM (No. 1757499)
#20 nails it. Leftists cannot grasp math and economics, they think in "One, two, three.....many....bazillions" terms, and are absolutely locked into the mercantilist view that there is this fixed "economic pie" and they must carefully divide this FIXED pie ...so if some guy gets rich....he MUST be stealing someone else's pie.
They truly cannot grasp and WILL NOT believe than an innovator and businessman can INCREASE the size of the 'economic pie' and take more for himself, and leave more for others, too.
Innumerate, I call them....like illiterate for words, this is the inability to deal with numbers. Genetic defect, apparently.
15 people like this.
Reply 25 - Posted by:
globalwarmer 7/15/2024 4:51:58 PM (No. 1757512)
Democrats have always been maddeningly ignorant of even the most elementary of economic concepts.
11 people like this.
Reply 26 - Posted by:
seamusm 7/15/2024 4:56:18 PM (No. 1757518)
Rental caps per se have previously been shown as counterproductive. But I do think something must be done to prevent corporate financiers from using our tax codes to profit off 'buying ugly houses'. Home ownership should be advantaged in the tax codes ONLY on behalf of home DWELLERS. I don't know if this current proposal if a good idea or just one more attempt by this Biden administration to buy votes unconstitutionally.
10 people like this.
Reply 27 - Posted by:
FormerDem 7/15/2024 5:03:19 PM (No. 1757525)
Rent control looks good but the cities which have it also have people sleeping in the streets. If you want to prance around gathering songs and goopy praise, go for rent control. If you want people to sleep under their own roofs albeit ratty at times, no rent control. I am for #2.
8 people like this.
Reply 28 - Posted by:
anniebc 7/15/2024 5:04:29 PM (No. 1757526)
Get ready for rental costs to go sky high. Prepare to live on the streets. You get a grocery cart! You get a cart! A cart for every member of your family. Nope, you have to share just one cart; stop being selfish, you ungrateful greedy American.
10 people like this.
Reply 29 - Posted by:
planetgeo 7/15/2024 5:08:07 PM (No. 1757528)
My point isn't that their problem is rent caps, or any other single issues. It's generic covering ALL financial/economic issues...as though it's a real genetic defect. Just look at how they're completely bamboozled by their "minimum wage" fiasco in California in particular. They had no clue that this would result in massive worker layoffs and calamitous business closures. It just sounded good. And they thought they'd be heroes. Instead, they're pathetic dunces.
And the minimum wage stupidity still isn't over. Their zealous virtue is going to drive them (already is) to "wealth caps" and 90% tax rates and standardized wage tables for all jobs. They'll want to make the whole country like the DMV. With special exemptions, of course, for government workers. Because, you know, they're so virtuous.
10 people like this.
Reply 30 - Posted by:
MindMadeUp 7/15/2024 5:11:45 PM (No. 1757535)
And, whatever the price cap is, any rents less than that cap will suddenly go up to match it.
9 people like this.
Reply 31 - Posted by:
BluesClues 7/15/2024 5:16:21 PM (No. 1757542)
Does this mean property taxes and interest won't increase more than 5% too? Rental prices go up, primarily because of interest and taxes. So what's a landlord going to do when he can't raise the rent to cover the increases? I suspect landlords will convert more property to condos or sell them outright. This is another program bound to backfire. Jeez, progressives are so naive.
8 people like this.
Reply 32 - Posted by:
czechlist 7/15/2024 5:19:51 PM (No. 1757543)
Fascist jo the Federal slumlord
9 people like this.
Reply 33 - Posted by:
Safari Man 7/15/2024 5:22:32 PM (No. 1757544)
Dimocrats caused inflation with BAD awful ideas that are anti-free-market. Now they are going to double down. Renters are too stupid to see the flaw, they just want the government to do something, Undo-ing Biden is what needs to be done. Shipping 30 million invaders home will really help too.
9 people like this.
Reply 34 - Posted by:
Mcscow sailor 7/15/2024 5:25:48 PM (No. 1757547)
While the idea is economically illiterate and demonstrably counterproductive, i can imagine leases in the future will be embedded with non-rent fees. Look at the car rental industry …some places the fees are as high as the rent. Lessee, mailbox fee, security fee, taxes fee, insurance fee, grounds fee, pool fee, …lot of sharp landlords out there, and just the dullards offering this
9 people like this.
Reply 35 - Posted by:
Hermit_Crab 7/15/2024 5:59:37 PM (No. 1757567)
With the added advantage that it will drive small and medium real estate owners out of business so Blackrock and Vanguard can acquire the properties at bargain prices.
"You Vill Own Nothing!!!!"
11 people like this.
Reply 36 - Posted by:
mc squared 7/15/2024 6:01:43 PM (No. 1757569)
Can't do it! There is no federal law that controls rents.
5 people like this.
Reply 37 - Posted by:
volksford 7/15/2024 6:12:42 PM (No. 1757578)
Here is Joey's moronic idea for the day...I am sure there will be many more to come from that gaggle of idiots.
6 people like this.
Reply 38 - Posted by:
Starlifter Nav 7/15/2024 6:35:59 PM (No. 1757600)
Oh look! A squirrel!!
6 people like this.
Reply 39 - Posted by:
MissMann 7/16/2024 3:13:43 AM (No. 1757856)
Where in the Constitution does it say the executive can tell private citizens what they can or can't do with their property?
7 people like this.
Reply 40 - Posted by:
Rumblehog 7/16/2024 6:49:20 AM (No. 1757914)
Without Legislation this is nothing more than, "Angry old man screaming at clouds."
4 people like this.
Reply 41 - Posted by:
Adam 7/16/2024 6:57:32 AM (No. 1757920)
Price controls = shortages
7 people like this.
Reply 42 - Posted by:
msjena 7/16/2024 7:23:21 AM (No. 1757946)
Have price controls ever worked? They decrease supply and increase demand, causing shortages. Who will build new housing if they can't recover their costs?
4 people like this.
Reply 43 - Posted by:
mifla 7/16/2024 7:40:33 AM (No. 1757963)
Same old same old.
A vote buying scheme that sounds good, but won't work and is unconstitutional.
They know that, they just need the short term gain prior to the election. Long term will be a disaster.
6 people like this.
Reply 44 - Posted by:
Zigrid 7/16/2024 11:11:17 AM (No. 1758177)
Another example of government interfering in the people's business...I guess Obama/biden had to come up with something to take the heat away from Mayorkas and his commie ideas....the whole White House staff and all the hollyweird directors in the war room are running out of ideas....couldn't happen to a slim filled group...what's next?...what's next...George Clooney as your illegal nominee ?
2 people like this.
Reply 45 - Posted by:
Msquared112 7/16/2024 11:37:12 AM (No. 1758215)
Sure, just give more of our money away to the slothful. If rentors have to cap rent, they will go out of business, making more homeless people who will then suck on the gov't teat, on OUR tax dollars. Do these people ever get tired of spending our money?
3 people like this.
Yes, #21, wouldn't you think there'd be a market for some car company to have a few basic car models that don't have every unnecessary but expensive contrivance known to man? As in I don't need my car to announce that it's raining...
2 people like this.
Reply 47 - Posted by:
Kafka2 7/16/2024 2:28:08 PM (No. 1758405)
Could this just be another way to get more votes? Nah! Tell me it isn’t so.
1 person likes this.
Reply 48 - Posted by:
rochow 7/16/2024 3:13:06 PM (No. 1758452)
Is his gutter party sure that they know what this vegetable is going to blab and stutter about.
1 person likes this.
Reply 49 - Posted by:
ADNova 7/16/2024 6:03:06 PM (No. 1758635)
Given adequate time and power there’s nothing the left can’t screw up.
0 people like this.
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