Experts Respond To Biden’s Rent Cap Comments

July 1, 2024

Housing was barely mentioned in last week’s presidential debate and addressed only by President Joe Biden, not Donald Trump.

Biden pushed recent housing actions as proof that his administration is tackling the affordability crisis, an issue that strikes home for millions of Americans.

Others have praised the remark, however. Mark Paul, an economist and assistant professor of economics at Rutgers, posted positive comments on X, formerly Twitter.

“Biden et. al are finally taking the housing crisis seriously. Going on offense to increase supply AND cap rent increases is precisely the type of intervention we need to drastically improve housing affordability & stability.”

He and a group of other academics and economists wrote an open letter regarding rent control in late 2023, arguing that research actually shows rent caps to be beneficial to communities.

“Through well-crafted policies, rent regulations can be designed in a manner that protects the general health and well-being of renters, promotes affordability, mitigates future inflationary episodes, and maintains landlords’ ability to receive a fair and reasonable return on their investment,” it said.

The Mortgage Note, July 1, 2024

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