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Today, President Biden unveiled a bold proposal: corporate landlords would be required to cap rents at 5 percent or risk losing federal tax benefits for two years. This policy is part of a comprehensive plan aimed at tackling housing costs nationwide. We strongly believe extending this crucial policy beyond the proposed two years, given its urgency in addressing pressing issues in cities and states across the country.   However, it's important to note that this proposal alone cannot solve our housing crisis. Merely increasing housing supply won't adequately meet the needs of households struggling with affordability.   It's crucial that President Biden's proposal moves from concept to reality swiftly to benefit households nationwide. The president should utilize the Federal Housing Finance Agency's authority over federally-backed properties to implement rent stabilization immediately, providing relief to millions of renters. #HousingFutures #HousingJustice #RentStabilization #PresidentBiden

The pressure on housing costs continues: Over the past 20 years, the median rent in the United States has risen from $480 to $1,200, far outpacing wage growth, and housing is also tied to high property taxes and property fees, placing a heavy burden on people. # Housing costs in the United States # Rent stress # Property Tax

President Biden unveiled a new proposal to cap rent increases nationwide, aiming to tackle soaring housing costs, though it faces hurdles in Congress and skepticism from some experts concerned about exacerbating housing shortages. Despite challenges, the plan would limit annual rent hikes to 5% or landlords risk losing federal tax breaks, potentially impacting nearly half of the rental market, yet its impact on Bay Area renters, already subject to local rent controls, remains uncertain. https://lnkd.in/gAf5vigF #RentControl #HousingAffordability #RentalMarket #BayAreaHousing

Yesterday, President Biden announced a proposal to cap annual rent increases at 5% per year for the next two years or risk losing current valuable federal tax breaks. The proposal, if passed by Congress, would apply to landlords who own more than 50 units. #IREM opposes the President’s proposal as rent control has proven to be a failed policy that only exacerbates the national housing affordability crisis. Read our full statement at https://hubs.ly/Q02H0GX10 #propertymanagement #realestate #rentcontrol

It is always a cause for concern when career politicians decide to step over into the business world with policies that will undoubtedly have unintended consequences. It has happened on both sides of the aisle. While offering rent increase caps sounds like a benevolent policy, the unintended consequences will negatively impact those that need rental assistance the most. My ask of any politician or elected official is to create a group to study the issue that is bi-partisan and that will model the pros and cons of the prescribed policy. In real estate and financial services, we must model our returns as part of our due diligence. Politicians and elected officials need to follow the example of business leaders as research should be conducted to mitigate the risk of unintended consequences. #realestate #multifamilyinvesting #duediligence

Budget changes could shape your next move—here's what you need to know: ➡️ Stamp Duty on buy-to-let and second homes is up from 3% to 5% ➡️ Capital Gains Tax is rising, but residential property rates stay steady ➡️ £5bn boost for affordable housing to help more people get on the ladder ➡️ Extra funding to tackle unsafe cladding on high-rise buildings Swipe to see how these could impact your plans 📲 #Budget2024 #HomeBuying #StampDuty

Episode 13 of The Pulse goes into President Biden's housing affordability proposal, as mentioned during the 2024 State of the Union address. From tax incentives to ambitious construction goals, how will these proposals reshape the housing landscape? Join the conversation with Antonio S. and share your insights on the future of affordable housing in America. #AffordableHousing #BidenHousingPlan #RealEstatePolicy #ThePulse #StateofTheUnion

🏠💼 Concerned about rising rent costs in Georgia? It's a hot topic, and there's more to it than meets the eye. Rent hikes are driven by increasing property taxes, homeowners insurance, and maintenance costs for both supplies and labor. These expenses are rising faster than many salaries, posing challenges for residents and businesses alike. It's crucial for policymakers, employers, and communities to collaborate on solutions that promote fair wages and affordable housing initiatives. #AffordableLivinf #GeorgiaRealEstate #RentalMarket #IncomeInequality #PropertyInvestments

Conservative Leader Pierre Poilievre pledges to abolish the federal sales tax on new homes priced under $1 million if elected, aiming to make housing more affordable and drive up construction. In a video announcement, he claimed that government taxes and red tape are major cost drivers in the housing market, pledging that a Conservative government would save buyers up to $40,000 on an $800,000 home. Poilievre plans to fund this cut by eliminating Liberal programs like the housing accelerator and infrastructure funds, which he argues have failed to make housing affordable. The Conservatives estimate this policy could lead to 30,000 new homes being built per year, generating additional tax revenue from a construction boom. #AffordableHousing #HomeOwnership #CanadianPolitics #CostofLiving #TorontoCulture

Quick read on housing affordability. It’s not just about interest rates. Key point is that Most developers would pass on the savings in fees, taxes and charges going to the government=significant benefit on pricing.