Will Parker

speaker

780 appearances 18 recordings 1 series first heard May 2019 last heard Nov 2024

Will Parker’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Rising Rents Spur Cities to Consider Rent-Control Laws · 15 Mar 2022 podcast

Others give a little more of a cushion, give a little more room for landlords and we'll say something like 5% plus inflation and get those increases higher to 10% or something like that, depending on matched

on what inflation looks like in a given year. matched

But the intent of all of them is to slow down the pace at which rents are rising. matched

And we're seeing asking rents in some cities like Tampa and Miami rise 30% in a single year. matched

Of course, the difference between 5% and 30% is huge. matched

And that's apparent to both renters and landlords. matched

And that's what the argument is over right now. matched

Sure, I mean, the most famous ones are in New York City and they've been around for many, many decades. matched

About half of the housing in New York City is what's called rent stabilized and rents at those apartments generally can only go up a couple percentage points a year. matched

There's been a lot of exceptions for that in the past and laws have changed, but generally that's the case. matched

New construction apartments are usually not included in that unless they're part of some special tax program. matched

But we have some newer proposals that differ, and they go in a couple different directions. matched

One of the most strict rent controls that's been proposed in the U.S. matched

just passed a ballot measure in St. matched

Paul, Minnesota in the fall. matched

And that law is special because it doesn't have any exceptions for new construction buildings. matched

They would be held to 3% increases on rent annually. matched

And it also doesn't include exceptions for... matched

A lot of these laws allow a landlord to reset the rent once a person moves out and raise the rent to a market rate. matched

In St. matched

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