Finance
January 1, House Democrats Blame Corporate Landlords for Rising Rent Costs
House Democrats blamed private equity firms for rising rent prices during a Congressional hearing on Tuesday.
“This predatory purchasing contributes to our nation’s shortage of affordable housing and exacerbates the racial wealth gap,” said Rep. Al Green (D-TX) at the House Financial Services subpanel hearing.
Data shows that rents are up 5.2% compared to last year, according to The Hill.
However, House Republicans say Democratic lawmakers are trying to deflect blame for record-breaking inflation.
“Another day, another new excuse from my friends across the aisle trying to explain [away] their role in causing record-breaking inflation,” Rep. William Timmons (R-S.C.) said. “None of these attempts to explain away inflation have worked.”
Rep. Maxine Waters (D-CA) addressed the criticism, saying the Republican Party “rails” against rising inflation, but its lawmakers “don’t have any answers.”
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What about all the suppression of rent evictions during covid-19 which was money lost to landlords while they still had to keep paying all the bills accompanying those rental properties. They had to raise the rents after the rent eviction suppression was ended to get what money they had lost.