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Rent Caps - President Biden recently announced a 5% cap on apartment rents, though there was some confusion as he struggled to read '5%' on the teleprompter, accidentally suggesting a $55 cap. This raises questions about the effectiveness of rent caps in addressing America's housing crisis. What implications will this have for future development? Do rent caps have a successful track record, such as in New York? It's worth pondering why, if the President views rent caps as a definitive solution to soaring housing costs, why he did not implement this measure back in 2021 when the average rent was around $1,150 per month, in contrast to the current average of approximately $1,411 per month. The timing of this policy, introduced less than four months before the Election after three and a half years of inflation, is also noteworthy. Tune in tomorrow for the full podcast as we consider Biden's Rent Cap announcement. Rent Caps - the discussion in today's episode of the Commercial Real Estate Talk Podcast. We track commercial real estate so you can focus on your business. Please subscribe. Thank you. #rentcaps #Biden #President #commercialrealestate #office #miami #apartments https://lnkd.in/eaDgZfXb

President Biden's Rent Cap Announcement - Part One Episode 129 - Commercial Real Estate Talk Podcast

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