Biden Proposes Nationwide Rent Cap Amid Housing Crisis

The plan aims to limit annual rent increases to 5% for large landlords and repurpose federal land for affordable housing.

The proposal targets landlords with over 50 units, covering an estimated 20 million rental units.
Landlords who exceed the 5% cap could lose federal tax breaks under the plan.
The initiative seeks to address housing affordability but faces criticism for potentially worsening housing shortages.
Opponents argue that rent control could reduce the quality and availability of rental housing.
The plan includes measures to use underutilized federal land for new housing developments.