National Multifamily Housing Council

"Biden’s bad rent-control idea has no upside" -The Washington Post   We agree. The proposal not only ignores the shortage of housing in the U.S., but will exacerbate the problem.   We need to build 4.3 million new apartment units by 2035. The Administration's proposed rent caps will only slow development and harm the renters most affected by the lack of affordable housing. Keep reading: https://lnkd.in/e_n7acdF

"Unfortunately, rent control continues to be embedded in the American political imagination. It’s based on the populist idea that rental housing providers and renters are at odds with each other and that housing providers have all the power in the relationship." -Sharon Wilson Géno, NMHC President The truth is, it will take time to build the supply we need, but politicians are not always upfront about this basic fact. As long as rent control is seen as a viable solution, there will be little real progress in making housing more affordable for all. Keep reading: https://lnkd.in/gjNTUjDB

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Today, President Biden announced a proposal that would implement a 5% rent cap for properties receiving federal tax breaks. This proposal simply misses the mark on fulfilling the President’s promise to improve affordability. Not only will it fail to deliver any new housing units, but it threatens to take currently available units off the market. Rent regulation hurts renters. Full stop. To learn more, download the NMHC Report: Rent Regulation Policy in the United States here: https://lnkd.in/egVawAKb

NMHC Statement on Reporting that the Biden Administration Will Announce National Rental Control “This legislative proposal will not create a single new unit while raising costs on the very residents it purports to help,” said NMHC President Sharon Wilson Géno. “If the administration’s goal is to lower housing costs and support residents it would be better advised to implement policies that expand housing supply - the only real way to sustainably lower housing costs and create more housing security for renters as the Biden administration pointed out in its very own Housing Supply Action Plan. Rent control has been tried for decades and been a resounding failure. Now is the time for actual solutions, not electioneering.” Keep reading: https://lnkd.in/eteMDc2Y

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Join us on Monday, July 22 at 2:00 PM ET for our Q3 State of the Multifamily Market Webinar. NMHC's Chris Bruen and Zillow's Orphe Divounguy will unpack key indicators such as market tightness, sales volume, equity financing and debt financing. Save your spot here: https://lnkd.in/dqt_geqg

Renter Fraud Is Out To Bite Multifamily, But Technology Can Mitigate The Sting "A staggering 93.3% of members of the National Multifamily Housing Council experienced renter fraud in 2023, while 70.7% saw an increase in fraudulent activity during the same time frame." -Bisnow Read more: https://lnkd.in/eRFqx2-9