Lawmakers across the US are targeting skyrocketing home-rental prices with rent control measures last seen during the inflationary spiral of the 1970s, which also was the last time the annual inflation rate exceeded its current level of 7.9 percent.
Legislation has been proposed at the city or state level in every region that would establish caps for rent increases, with the cap proposals ranging from 2 percent to 10 percent, according to a report this week in The Wall Street Journal.
Redfin estimates that home-rental prices have increased an average of 18 percent across the US during the past two years, hitting record levels with some cities reporting rent hikes of 30 percent.
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