As inflation has aided in rent spiking to a 35-year high, everyone is reminded of the famous ‘the rent is too d*** high’ speech. Jessica Burbank and Ana Kasparian break it down on The Damage Report.
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AT 35-YEAR RENT INFLATION HIGH, HOMES GUARANTEE CAMPAIGN DEMANDS FEDERAL ACTION ON RENT INFLATION – https://peoplesaction.org/2022/08/at-35-year-rent-inflation-high-homes-guarantee-campaign-demands-federal-action-on-rent-inflation/
"WASHINGTON, D.C.–People’s Action’s Homes Guarantee campaign today demanded federal action on rent inflation in a media briefing with allies and tenant leaders. The briefing included the release of an economic analysis co-written with Groundwork Collaborative on rent inflation and polling by Data for Progress.
“I feel trapped,” Progressive Leadership Alliance of Nevada and Homes Guarantee tenant leader Vanessa Armour said. “Am I going to spend the rest of my life scraping it all together? While the government does nothing to help me? While the government is actually in the business of financing greedy landlords like mine?”
The economic analysis discusses rent inflation as a driver of core inflation, corporate landlord price gouging, the worsening rent inflation and eviction crisis, how the Federal Reserve’s interest rate hikes raise rents and disproportionately hurt Black tenants, and the failure of the private market in combating homelessness. The polling shows the majority of voters want the federal government to take action."
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