White House prepares new tenant protections, alarming housing industry

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The housing industry, already facing a declining market, has mounted a preemptive counter-push, arguing that state and local regulations on leasing are sufficient and that federal intervention in the market could curtail desperately needed affordable housing investment.
The industry is bracing for “some pretty intense regulation,” said Jerry Howard, CEO of the National Association of Home Builders, whose members include landlords. “They need to be very cautious about what they’re doing,” said Howard, who was one of a handful of industry representatives at a November White House meeting on tenant protections. “There’s a real chance of creating a problem that doesn’t exist.”
With a possible recession looming, the Biden administration will be looking for ways to provide relief to cash-strapped Americans suffering from a higher cost of living. Since the U.S. House is now under Republican control, the kind of sweeping economic legislation enacted during the last two years is off the table.