House Democrats Blame Corporate Landlords for Rising Rent Costs
House Democrats blamed private equity firms for rising rent prices during a Congressional hearing on Tuesday.
“This predatory purchasing contributes to our nation’s shortage of affordable housing and exacerbates the racial wealth gap,” said Rep. Al Green (D-TX) at the House Financial Services subpanel hearing.
Data shows that rents are up 5.2% compared to last year, according to The Hill.
However, House Republicans say Democratic lawmakers are trying to deflect blame for record-breaking inflation.
“Another day, another new excuse from my friends across the aisle trying to explain [away] their role in causing record-breaking inflation,” Rep. William Timmons (R-S.C.) said. “None of these attempts to explain away inflation have worked.”
Rep. Maxine Waters (D-CA) addressed the criticism, saying the Republican Party “rails” against rising inflation, but its lawmakers “don’t have any answers.”