Biden's New Inflation Plan: How About
Federal Rent Control?
Hot Air,
by
Ed Morrissey
Original Article
Posted By: Dreadnought,
7/16/2024 10:24:02 AM
Enough about Joe Biden's mindless nastiness. I'll take my cue from Donald Trump and Biden himself and focus on policy this morning.
Specifically, let's talk about Joe Biden's mindless and nasty demagoguery on economic policies. Faced with the electoral consequences of his corrosive inflationary wave, especially in shelter costs, Biden has to come up with some promised policy solution. And that is ... federal rent control:
President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords as he tries to show he’s doing something about the high cost of housing, according to a person familiar with the plan.
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This would exacerbate the already-bad housing shortage. No one would build affordable apartments and apartments would switch to condos.
It's basic supply and demand. As supply goes down, prices go up. If prices can't go up, supply will stay the same or go down. Demand is up because of illegals. This means SHORTAGE.
If you want more affordable housing, and cheaper rent, remove burdensome regulations and requirements. Give tax breaks. Allow quick depreciation on rental housing.
Oh, and cut demand by closing the border.
26 people like this.
Reply 2 - Posted by:
WV.Hillbilly 7/16/2024 10:39:16 AM (No. 1758148)
You want less housing?
This is how you get less housing.
21 people like this.
Reply 3 - Posted by:
K620 7/16/2024 10:40:58 AM (No. 1758150)
Stoopid on so many levels. I guess Syracuse didn’t teach Con Law.
13 people like this.
Reply 4 - Posted by:
ronniethek 7/16/2024 10:44:38 AM (No. 1758155)
Not that the fascists in power give a crap in our non democracy democracy. We actually have a constitution here. Where does this POS dictator think he has the authority or that even Congress would have authority to seize some one else’s private property- which is in effect what this would be- just because and without just compensation?? UNCONSTITUTIONAL AND WOULD NOT SURVIVE A CHALLENGE FOR 2 SECONDS.
16 people like this.
Reply 5 - Posted by:
DougTN 7/16/2024 10:44:54 AM (No. 1758157)
Pandering Joe. Or is that Pampers Joe.
7 people like this.
Reply 6 - Posted by:
mc squared 7/16/2024 10:53:22 AM (No. 1758162)
Do watch the linked video. Biden is older dumber but still the same liar.
10 people like this.
Sure let's do that, since Rent Control has worked so well for NYC, and all the other Big Cities cesspools...
11 people like this.
Reply 8 - Posted by:
Quigley 7/16/2024 11:01:27 AM (No. 1758167)
I thought Biggie Bidet said that he has corrected the inflation problem? So why and extreme measure take with respect to a problem he says he has solved? Never let a crisis go to waste?
Who is this Band of Bumblers that are dreaming up these policies?
9 people like this.
Reply 9 - Posted by:
Pinkpanther 7/16/2024 11:02:01 AM (No. 1758168)
Biden is also to blame for the housing shortage when he flooded this country with 10 million illegals.
15 people like this.
Reply 10 - Posted by:
Highlander 7/16/2024 11:08:11 AM (No. 1758173)
That will guarantee this country will truly become a s__thole country!
6 people like this.
Reply 11 - Posted by:
LC Chihuahua 7/16/2024 11:16:43 AM (No. 1758182)
Owners and landlords leave the rental market. Government swoops in and buys them cheap and rents them out. Government runs the rental business! What happens to home ownership? The left does not believe in private property.
There was a story the other day about the feds planning to forgive all medical debt. Is our government trying to consolidate all US debt? Total US debt is 100 trillion. God help us.
The government will take over everything, declare bankruptcy, and collapse.
10 people like this.
Reply 12 - Posted by:
DVC 7/16/2024 11:24:11 AM (No. 1758195)
An ULTRA, super, inredibly destructive, disastrous, evil mess. It WILL destroy US housing, guaranteed.
8 people like this.
Reply 13 - Posted by:
planetgeo 7/16/2024 11:35:07 AM (No. 1758210)
Better idea: Federal tax control.
11 people like this.
Reply 14 - Posted by:
Msquared112 7/16/2024 11:39:43 AM (No. 1758222)
Another desperate vote-getting scheme. What's next? Free food, free lodging, free medical care cradle to grave? Wait, haven't we seen this being tried before elsewhere? Right, yes, we have; it lowers the standard of living and happiness for everyone. Just like the Left to drag everyone down because, God forbid, some should be successful or even wealthy. Geez....
12 people like this.
Reply 15 - Posted by:
snapper451 7/16/2024 11:59:24 AM (No. 1758235)
And who is the real dictator? Always be wary of what they call the other guy. The Dems would like nothing more than a totalitarian, one party, communist state.
9 people like this.
Reply 16 - Posted by:
stablemoney 7/16/2024 12:16:53 PM (No. 1758265)
Biden doesn't have any respect for private contracts, for rents, student loans, or anything else. The Biden administration is total central control by a communist dictatorship.
6 people like this.
Reply 17 - Posted by:
NamVet70 7/16/2024 12:25:12 PM (No. 1758273)
Where would Biden get that authority? Most rents are local, not interstate commerce.
7 people like this.
Reply 18 - Posted by:
singermom9 7/16/2024 12:40:04 PM (No. 1758287)
How abt House or car or credit card forgiveness. I want you to BUY MY VOTE TOO joey.
4 people like this.
Reply 19 - Posted by:
padiva 7/16/2024 1:37:55 PM (No. 1758336)
Today, my landlord gave me a new lease. It's going up $50/month. Still less than 5%. I'm an adult and will adjust my budget to accommodate.
My vote is not for sale.
5 people like this.
Reply 20 - Posted by:
LadyHen 7/16/2024 1:55:43 PM (No. 1758352)
Beyond the fiscal asininity of this proposal which will even further undermine housing availability as landlords simply make other choices with their property.. my question is "and this is a Federal issue how?" Where in the Constitution is the Executive Branch given such power?
3 people like this.
Reply 21 - Posted by:
swarfer 7/16/2024 2:11:10 PM (No. 1758377)
Unless the rental property has been financed in some way thru the federal government, the government has no legal authority to determine rents.
3 people like this.
Reply 22 - Posted by:
FormerDem 7/16/2024 2:39:22 PM (No. 1758409)
aong his worst ideas in terms of causing mayhem and not helping anybody, also among his worst ideas in terms of the Constitution and that is saying a lot. Go away, please go away, Joe Biden. I am praying for your immortal soul. You are not a good president. Go away.
2 people like this.
Reply 23 - Posted by:
oldmagnolia 7/16/2024 6:02:02 PM (No. 1758633)
Peron did that in the 50s in Argentina and created a black market and the collapse of real estate. Think what happened with prohibition. It created the mafia. History repeats itself.
2 people like this.
Reply 24 - Posted by:
pensom2 7/16/2024 11:45:43 PM (No. 1758811)
Folks, of course this would be unconstitutional. Of course. But by the time the SCOTUS orders the executive order to be nullified, Joey's election will be over. He knows that, so do his puppeteers. They don't care--their goal is to make promises they can't keep, drag in a few more million votes, then blame the SCOTUS when they can't enforce his rent control order. It's what dems do. Same with lawsuits like President Trump's conviction in New York--it will eventually be overturned by one appellate court or another. But in the meantime, Joey gets to keep repeating that his opponent is a "convicted felon."
0 people like this.
Reply 25 - Posted by:
NYbob 7/17/2024 12:44:25 AM (No. 1758835)
How to show you are Stalin, Mao and Adolf all rolled into one corrupt rat. For a scum lifelong parasite who has been feeding at the DC swamp, this makes perfect sense. Only mean Republicans would oppose such a caring for the little man plan.
0 people like this.
Reply 26 - Posted by:
mifla 7/17/2024 6:00:55 AM (No. 1758931)
And once again, the landlords get left holding the bag, just like under covid.
What are they supposed to do, absorb all cost increases of utilities, taxes, and energy, so their tenants don't have to?
0 people like this.
Reply 27 - Posted by:
franq 7/17/2024 6:04:59 AM (No. 1758934)
Stop printing money. Stop spending it like a drunken sailor. Stop welfare to unmarried people.
Stop illegal entry. Stop funding pointless wars. Lay off 50% of federal workers. Drill for oil.
That's just a start. The budget would shrink astronomically. So would taxes, price of goods, and cost of living.
0 people like this.
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