NAA Response to President Biden's Rent Cap Rhetoric

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Jul 12, 2024, 12:22 ET

ARLINGTON, Va., July 12, 2024 /PRNewswire/ -- The National Apartment Association (NAA) released the following statement in response to President Biden announcing a 5% corporate rent cap should he be reelected this November:

"Implying that rent control will solve the nation's housing crisis is the easy way out. Rent caps, more commonly known as rent control, are failed policies that don't work – research has shown it, the lack of affordability in rent-controlled jurisdictions reinforces it and statements from countless economists across generations and the political spectrum are crystal clear.

"We need leaders to stop playing politics with our housing supply. Despite President Biden's prominent and direct attacks on the rental housing industry, the National Apartment Association and our 97,000 members continue to put in the work to house America's 40 million renters, build communities at all price points and fight for policies that ensure we have enough housing for generations to come."

About NAA
The National Apartment Association (NAA) serves as the leading voice and preeminent resource through advocacy, education, and collaboration on behalf of the rental housing industry. As a federation of 141 state, local and global affiliates, NAA encompasses nearly 97,000 members representing more than 12 million apartment homes globally. NAA believes that rental housing is a valuable partner in every community that emphasizes integrity, accountability, collaboration, community responsibility, inclusivity, and innovation. To learn more, visit www.naahq.org.

SOURCE National Apartment Association