While it might seem good in theory. This is just going to result in a yearly 5% rent increase. Salaries don’t increase that much. So this doesn’t really do anything to curb the issue.
While accurate that pay needs to rise too, some people would kill (not literally) for just a 5% increase. A lot of people have 10-15% increases so it just being 5 percent would be huge for millions of renters. And it’s not like landlords aren’t already increasing rent every year.
While it might seem good in theory. This is just going to result in a yearly 5% rent increase. Salaries don’t increase that much. So this doesn’t really do anything to curb the issue.
While accurate that pay needs to rise too, some people would kill (not literally) for just a 5% increase. A lot of people have 10-15% increases so it just being 5 percent would be huge for millions of renters. And it’s not like landlords aren’t already increasing rent every year.
Yeah, it’s still better than nothing. Just wish it was more like 2.5 - 3%. Which is more in line with what people see with yearly raises.