Overview

• 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.