Well, howdy there internet people, let's bow again. So today we are going to talk about

President Biden, housing, rent, his plan that was just announced. The questions that came in about it almost immediately,

and then the big catch that goes along with this plan.

Okay, so rough sketch of the plan. It's relatively simple. It caps rent increases at 5% per year for entities that have 50 units or more or maybe more than 50 units, one of the two.

And then there's a little bit more about public land use and surplus government land that might be used for creating more housing.

It's interesting, but realistically it doesn't seem like a game changer.

The cap on increasing rent seems more important.

There are two exemptions to it.

New construction in those places that were substantially renovated.

And that's where all the questions came in. That's what it was all about.

And generally the question is why?

Why exempt new construction and places that were substantially renovated?

To try to address the route.

If you incentivize creating new construction

or renovations of buildings that already exist, you create more

housing, you create more housing, you increase the supply, the price should come down. That's why those

are in there. So this is a major issue for a whole lot of people, especially those people who live in places

that housing has, well frankly, got out of control as far as the price.

Now overall that sounds like a plan that most people watching this channel would

definitely be behind.

What's the catch?

This requires Congress, which means you won't see any action on this unless he wins the election and there's enough

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