Biden rolls out 'Renters Bill of Rights' as lawmakers push for federal rent control laws

[Yo_Mama_Been_Loggin]

In the face of sky-high rents, President Joe Biden is rolling out a new set of principles the White House is calling a "Renters Bill of Rights" in an effort to improve rent affordability and protections for tenants.

The president is directing the Federal Housing Finance Agency (FHFA) to examine limits on rent increases for future investments and actions promoting renter protections. The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) have been tapped to root out practices that unfairly prevent applicants and tenants from accessing or staying in housing.

This rollout comes as progressive Democrats have asked Biden to direct different agencies, including the FTC, to limit rent increases. While rent control is common in some cities, there has never been federal residential rent control.

Nearly 50 progressive lawmakers, including Sen. Elizabeth Warren (D-MA) and Rep. Alexandria Ocasio-Cortez (D-NY), sent a letter to Biden earlier this month urging the president to take executive action to protect tenants from rising rents.

https://finance.yahoo.com/news/biden-rolls-out-renters-bill-of-rights-as-lawmakers-push-for-federal-rent-control-laws-133846254.html

[Phoenix61]

1. Needs to examine who is buying housing.

When housing becomes an income generator for asset management companies we all lose. The only plus side I can see is on 10 years when they have squeezed every single last cent out of those properties there will be a glut of housing in need of significant repairs.

[Archae]

2. I do see one potential problem.

Squatters.

Just look up "squatters" at Youtube, there are plenty of horror stories of people who just would thumb their noses at landlords, refusing to leave rental units after running up thousands in back rent and damage.