Bryan McCann’s Post

Multifamily Housing > Tomorrow in Nevada, President Biden is expected to propose a nationwide cap on annual rent increases to 5% per year. The proposal would strip multifamily owners of an unidentified tax benefit if they increase rent more than 5 percent per year and would only apply to multifamily owners that own more than 50 units. Read more at https://lnkd.in/gu4Tpy8u.

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

President Biden is urging Congress to implement a national rent control measure that would cap rent increases at 5% per year for approximately 20 million rental units. This policy targets landlords with over 50 units, who would lose federal tax breaks if they exceed the cap. Biden also announced plans to repurpose federal lands for affordable housing. The Bureau of Land Management will consider selling 20 acres in Nevada at below-market rates to create affordable housing, and the US Postal Service plans to repurpose unused properties for housing. Additionally, $325M in grants will be distributed to seven cities to revitalize neighborhoods. Biden's proposal faces steep odds in Congress, especially with the upcoming November elections and a GOP-controlled House. Nevertheless, the proposal aims to address voter concerns over high housing costs, a significant component of inflation. Keep reading 🔗 https://lnkd.in/eQtvCT5X #rents #policy #biden #multifamily #housingcrisis

FYI from NARPM BREAKING - The Washington Post is reporting that tomorrow, President Biden will unveil a national rent cap proposal Biden's plan - which would need to be approved by Congress - calls for stripping a tax benefit from landlords who increase their tenants' rent more than 5 percent per year, the people said. The measure would only apply to landlords who own more than 50 units, which represents roughly half of all rental properties, the people said. It wouldn't cover units that have not yet been built, in an attempt to ensure that the policy does not discourage construction of new rental housing. The people spoke on the condition of anonymity to describe a proposal that isn't yet public. https://lnkd.in/eUWWU_8z... ------------------------------ Tyler Craddock NARPM® National Legislative Office 1200 G Street NW, 8th Floor Washington, DC 20005 P: 202-918-1135 National Headquarters 1403 Greenbrier Parkway, Suite 150 Chesapeake, VA 23320 P: 800-782-3452 ------------------------------

A picture worth a thousand words. Industry professionals reaction to politician Max Chandler-Mathers opinion that the capital gains tax discount from the 1990's has a bigger impact on housing affordability than current town planning regulations. 😄 The greens politician and parties housing spokesperson made the claims on Australian Broadcasting Corporation (ABC)'s TV show Q&A this week. The article below published in the Age (subscription required) gives an insight into what a housing strategy would look like with the Greens in government. Spoiler - Planning rules unequivocally affect housing prices. https://lnkd.in/gDCVc6yE

As we gear up for a general election in July, with it comes the predicted speculation and anticipation. But will this have an effect on the housing market? Changes in government, policies, and regulations can have profound effects on everything from property prices to rental markets and housing affordability. In our new blog, we delve into how the upcoming general election might shape the future of the UK housing market. https://lnkd.in/eMq3VMG6 #removals #storage #movinghome #storagesolutions #homestorage

California voters, have you decided where you stand on Prop 33? The proposition aims to expand state-mandated rent controls, with current regulations limiting increases to 5% per year plus inflation. The California Apartment Association raises concerns, suggesting that such controls could worsen the housing crisis by discouraging new construction. Stay informed on this critical ballot measure at the provided links. #CaliforniaElections #Prop33 #RentControl #HousingCrisis

Affordable Housing Outlook: Upcoming Changes Under a Trump Administration? The affordable housing industry is watching closely as we consider what a new Trump administration might mean for policies, funding, and development. A recent article from the Pittsburgh Post-Gazette outlines some potential challenges and shifts that could impact property owners, managers, and developers. Key considerations include: • Housing Affordability Crisis: Continued pressure on rental affordability, exacerbated by supply chain issues and rising construction costs. • Tariffs on Construction Materials: How might renewed tariffs on imports like steel and lumber drive up development costs? • HUD Priorities: Potential changes in funding for programs supporting affordable housing and public-private initiatives. • Tax and Regulation Changes: Adjustments to tax incentives and regulatory policies could reshape investment strategies. • Inflation and Interest Rates: High borrowing costs remain a significant barrier to financing new developments. What are your thoughts? How do you see these factors shaping the future of affordable housing? Let’s discuss how the property management and development industries can prepare for potential shifts in the landscape. #AffordableHousing #PropertyManagement #RealEstateInvesting #MultifamilyHousing #RealEstateDevelopment #HousingAffordability #ConstructionCosts #IndustryInsights #policyimpact #EconomicOutlook

As we gear up for a general election in July, with it comes the predicted speculation and anticipation. But will this have an effect on the housing market? Changes in government, policies, and regulations can have profound effects on everything from property prices to rental markets and housing affordability. In our new blog, we delve into how the upcoming general election might shape the future of the UK housing market. https://lnkd.in/eMq3VMG6 #removals #storage #movinghome #storagesolutions #homestorage

The Wall Street Journal gets it right in an Op-Ed published this week. With housing supply and affordability at historically-challenging levels policymakers should be encouraging and incentivizing new housing development and investment, not creating barriers that restrict the building of new homes and flow of needed capital. “Against the backdrop of a national shortage of affordable housing, due in large part to government policies, California lawmakers want to restrict corporate investment in single-family rental properties. This would make the Golden State’s housing affordability crisis worse….[these] proposals would force financial capital out, reduce the future stock of rental housing and increase rental prices.” #NRHC #SFR #BTR #Housing #Affordability