Biden's National Rent Control Proposal Faces Criticism and Legislative Hurdles

The plan aims to cap rent increases for corporate landlords but sparks debate over its economic impact and feasibility in Congress.

Biden's proposal seeks to limit annual rent hikes to 5% for landlords owning over 50 units.
Economists argue rent control could worsen housing shortages and discourage new construction.
Tenant unions and housing activists support the measure as a temporary relief for renters.
The plan's success hinges on passing through a GOP-controlled House, where opposition is strong.
Biden's broader housing strategy includes increasing supply and repurposing federal land for affordable housing.