The housing movement is organizing to require that federally-backed landlords institute rent control and guarantee good living conditions.

… The Federal Housing Finance Agency, or FHFA, manages both Fannie Mae and Freddie Mac, which play a big role in the multifamily housing market by buying the mortgages issued by banks to multifamily landlords, thus assuming the risk of nonpayment. The Newberry Parc arrangement is quite common. Last year, Fannie Mae and Freddie Mac purchased a combined $142 billion in multifamily housing loans.

The problem, LTU members and a nationwide network of tenant organizations say, is that tax dollars provide these huge benefits to landlords without requiring them to protect the rights of tenants. LTU is a member of the People’s Action Center’s Homes Guarantee campaign, which says that the Biden administration should require these federally-backed landlords to limit their rent hikes, keep the housing in good condition and agree not to evict or not renew tenant leases except for good cause. Greater tenant protection in federally-backed housing would have a huge impact: It could apply to over 12 million rental units, nearly one in three renting households in the country. …

  • Tygr@lemmy.world
    2·
    1 year ago

    So now people understand housing inflation has repercussions to literally everyone. Landlords that don’t necessarily care about their unrealized profit in their holdings still have to pay an ever-increasing amount of property tax, homeowners insurance and more. Repairs are also double.

    All of this flows to the renter.

    You also can’t control the natural rent increases without controlling the reasons WHY it occurred in the first place. If these issues aren’t taken care of, an intervention is just a temporary bandaid.

  • blazera@kbin.social
    1·
    1 year ago

    Things get real fucky for the rich when basic housing isnt super expensive. So i dont expect dems or reps to fight for it