12.4 C
March 20, 2023
CNBC videos

Should Rent Be Capped?

$1,981 is the typical monthly rent in the United States based on most recent data. More than 19 million rents are considered ‘rent-burdened’, spending more than 30% of their income on housing costs. As concerns over rent affordability mounts, support for rent control policies have also gained traction. So can policy make rent more affordable in the United States? And if so, what would it look like?

Economists argue that rent control would deter developers from building more homes, which would only worsen the housing supply crisis in the United States.

America already suffers from a deficit of 3.8 million homes, especially at low-income price points, according to Habitat for Humanity.

“We have not invested as a nation in building the supply of housing in a variety of communities, in a variety of different price points. We’ve instead relied on the private sector to do so,” said Sharon Wilson Géno, president of the National Multifamily Housing Council. “But unless that money comes into the market and investors see that as a better investment than some other kind of equity or some other kind of investment, they’re not going to come.”

Watch the video to find out why so many economists are against the idea of widespread rent control.

01:45 — Rent control
04:37 — Implications
08:38 — Federal policies

Produced by: Juhohn Lee
Additional Camera: Charlotte Morabito
Supervising Producer: Lindsey Jacobson
Graphics: Jason Reginato & Alex Wood

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision

About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC


Should Rent Be Capped?

Related posts

How ExxonMobil Is Planning For A Future Of EVs


Will The U.S. Face A Food Shortage?


Why There Are Still Conflict Minerals In Our Electronics


2022 © TheCompanies *All rights reserved