All articles tagged with #rent hike
A San Francisco family in the Richmond District faces displacement after a 90% rent increase—from $3,695 to $7,000—following a change in ownership that the new owner says exempts the unit from protections; advocates say loopholes in rent-control laws enable such spikes, underscoring the city’s ongoing housing affordability crisis.
The US Department of Justice has compensated victims of a Walmart gift card scam with nearly $4 million. The New York City Rent Guidelines Board has approved a 3% rent hike for rent-stabilized apartments. Mortgage rates have slightly dropped, but middle-income homebuyers still face housing shortages. The Supplemental Nutrition Assistance Program (SNAP) has seen an increase in participants since the pandemic. Many Americans are not prepared for retirement expenses. Federal Reserve Chair Jerome Powell has stated that interest rates are likely to continue increasing this year.
The NYC Rent Board may allow landlords to increase rents by nearly 16% for regulated apartments over the coming year due to the dramatic spurt of inflation last year. The board is not bound by the recommended numbers in the staff reports and could adopt higher or lower rent hikes. Progressive activists and City Council lawmakers are pressuring Mayor Eric Adams and his appointees to the board to discard the findings and opt for a lower package of rent hikes.