Photo by Bruno Guerrero on Unsplash
On September 3rd, Americans for Tax Reform led a coalition of over 30 free market groups and activists opposing price controls on housing.
Vice President Kamala Harris has promised to cap “unfair rent increases,” echoing support for a Biden-Harris administration proposal to limit rent increases to 5 percent for landlords with over 50 units.
Additionally, under the Biden-Harris Administration, Attorney General Merrick Garland’s Department of Justice has filed a lawsuit that, if successful, would limit free market pricing in the housing industry through an effective ban on the use of algorithmic software. This could impose a federal prohibition of certain software that housing providers use because it helps them more accurately calculate a fair market value.
The letter asserts that these price controls will worsen the housing shortage and will cause a decline in the quality of housing.
To read the coalition letter in full, click here or see below.