Biden Administration Introduces New Initiative to Protect Tenants and Lower Rent Costs
After months of deliberation, the Biden administration today announced new plans to address and resolve unfair housing practices that are exacerbating a rental affordability crisis, The Washington Post reports. The White House is launching a “Blueprint for a Renters Bill of Rights” that aims to set clear guidelines to help renters stay in affordable housing, as well as the “Resident-Centered Housing Challenge,” a call to action for housing providers and state and local governments to strengthen policies in their own respective markets.
Inflation has been falling steadily for the past six months, but rapidly increasing rental costs and an ever-widening supply deficit are leaving millions of households across the nation without affordable housing options.
“The White House announcement introduces potential for agency-level action but falls short of issuing directives to regulate rent and address consolidation of the rental market,” said Tara Raghuveer, the homes guarantee campaign director at People’s Action who organized tenants to speak with White House advisers throughout the process. “The rent is too … high, and landlords, many who receive federal financing and subsidies, made record-setting profits in the past two years. There is much more the president can do to provide material relief to tenants, and we’re counting on this administration to continue working with our campaign to make it happen.”