Biden to cap rent rises at 10% in new affordable housing ploy: White House to unveil plan that could stop landlords upcharging on millions of homes
Daily MailThe Biden administration is set to announced a 10 percent cap on how much rent can go up in some affordable housing units according to a new report. The Washington Post reports the Biden administration will announce a cap on rent increases fr affordable housing units at 10 percent on Monday To receive the Low-Income Housing Tax Credit, developers must already follow a series of affordability rules including at least 20 percent of project units being occupied by tenants with an income at 50 percent or less of the area median income. He also touted cutting 'red tape' so builders can get financing to help build 1.7 million housing units The United States have been facing a longstanding affordable housing crisis. The reported cap on affordable housing unit rent increases would be the latest in a series of steps the Biden administration has taken in an effort to help addressing housing through boosting both the supply of affordable housing as well as promoting transparent rental markets.
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Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
Associated Press
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Yellen announces efforts to boost the housing supply as high prices create a crunch
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White House rolls out measures aimed at lowering cost of housing, increasing supply
Associated Press
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