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Biden’s 5% cap on apartment rents: Washington's latest economic follymises.org/power-market/bidens-5-cap-apartment-rents-washingtons-latest-economic-folly
223 sats \ 15 comments \ @Undisciplined 22 Jul econ
By Artis Shepherd
Recently, the Biden administration introduced plans to limit increases in apartment rents to 5% annually.
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31 sats \ 1 reply \ @Bell_curve 22 Jul
There has not been a lot of coverage about this.
This might be popular with a lot of voters.
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31 sats \ 0 replies \ @Undisciplined OP 22 Jul
I only saw it because Biden badly flubbed it in a speech. It's such a classic example of the government breaking your legs and then selling you crutches.
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42 sats \ 12 replies \ @Satosora 23 Jul
Is this in DC? Rent is out of control there! Even the senators and representatives sleep in their office.
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10 sats \ 6 replies \ @Bell_curve 23 Jul
The President lives in the White House which is in DC but doesn't manage the affairs of DC, although in Biden's case he spends a lot of time in Delaware.
Sometimes Congress will take over the city management of DC if the mayor is arrested for soliciting a hooker or similar.
There is a movement to turn DC and Puerto Rico into states. DC cannot be a state for many reasons, mainly not constitutional.
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42 sats \ 5 replies \ @Satosora 23 Jul
DC and PR will never become states. Just wont happen.
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41 sats \ 4 replies \ @Undisciplined OP 23 Jul
Why not PR? That doesn't seem any less likely than Hawaii becoming a state.
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42 sats \ 1 reply \ @Satosora 23 Jul
PR will remain a territory forever. USA doesnt want to redesign the flag lol
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41 sats \ 0 replies \ @Undisciplined OP 23 Jul
That's hilarious, but might be true.
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21 sats \ 1 reply \ @Bell_curve 23 Jul
The poverty rate in Puerto Rico is over 40 percent.
Like Guam, anyone born in PR is US citizen
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21 sats \ 0 replies \ @Undisciplined OP 23 Jul
Yeah, that's the bigger issue. Puerto Rico can't afford to comply with the enormous regulatory burden states have to deal with.
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21 sats \ 4 replies \ @Undisciplined OP 23 Jul
It's a national proposal.
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21 sats \ 3 replies \ @Satosora 23 Jul
Interesting. I dont know if it will really help, prices are already so high.
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41 sats \ 2 replies \ @Undisciplined OP 23 Jul
I promise that it won't help. Price controls never have and never will make things better.
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21 sats \ 1 reply \ @Satosora 23 Jul
Right. It didnt work in new york.
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0 sats \ 0 replies \ @Bell_curve 23 Jul
New York is the most egregious example.
California especially Santa Monica
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