Breitbart Business Digest: The Political Calculus Behind Biden’s Awful Rent Control Scheme

Why would any serious administration adopt it?The progressive left has a tremendous sway within the Biden administration, especially when it comes to housing policy. Rent control, despite its repeated failures, remains a favored tool among these ideologues. Their demands are not rooted in economic reality but in. They see rising rents much the way they see general inflation: the result of unchecked corporate greed rather than an excess of demand over supply.

What’s more, the Biden rent control proposal is likely to diminish supply through another channel—with the perverse effect of raising rents. Renters in hot real estate markets will hold on to their below market apartments, much the way homeowners with low-interest rate home loans are now reluctant to put their properties on the market. Thiswill push demand into the new construction market, pushing up rents.

In succumbing to the allure of rent control, the Biden administration has made a concession to the left-wing of its party. This is not a policy borne of economic insight but of political expediency. It offers, a sop to the progressive base, while the real solutions are left to languish in the purgatory of legislative delay.a preference for symbolic gestures over substantive policy

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Breitbart Business Digest: Debate Showed Biden Still Trapped in His Old Economic LiesSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Trump’s Trade War Is Good and We’re WinningSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: The Long and Sticky Road to Two Percent InflationSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Fed’s Bowman Sees No Cuts This Year, Warns of Possible Rate HikeSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Juneteenth Gloom Is in the Air, Especially for DemocratsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: The Spending Will Continue Until the Deficit ImprovesSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »