The Biden administration has unveiled a new plan to cap rental increases at 5% nationwide. The plan would target landlords with more than 50 units in their...
The Biden administration has unveiled a new plan to cap rental increases at 5% nationwide. The plan would target landlords with more than 50 units in their portfolio and provides an exception for new construction and renovation. Redfin Head of Economic Research Chen Zhao joins Wealth! to discuss the policy and how it may impact overall housing affordability.
Now, this would apply to landlords with over 50 units in their portfolio and provides an exception for new construction and renovation or rehabilitation.Joining me now is Chen Zhao who is the head of Economic Research over at Redfin Chen.Um I think like most of probably not all economists um rent caps do not really make much sense in my opinion.
So that is definitely a step in the right direction, even if it's only, you know, kind of makes a difference at the margin. Are there states that are doing this well, that this move from the administration should actually more mirror than doing a sweeping action like this.
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