To Make Housing Affordable, Control Rents
FEATURING TARA RAGHUVEER - Wall Street firms have, for years, been eagerly buying up single family homes, offering enough cash to snatch them out of the hands of potential mortgage holders and then renting them out to people. To maximize profits, naturally these companies have been raising rents, making housing unaffordable. Advocacy groups around the country have pushed rent control measures, saying it’s the only way to ensure affordable housing. People’s Action has just released a memo countering the standard opposition to rent control and offering concrete examples where it has worked.
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