Wrong Way Fed

When the Fed recently raised interest rates in their attempt to slow down the inflationary trends that are sending millions to the “Poor Farm” actually will only increase the poverty rates. Instead of slowing down the inflation rates this rate hike will just slow down the economy adding more salt to our already wounded economy. The results on Wall Street are the results of what the Fed has done. 

What is needed now is a mandatory price cap on rent and housing increases, gas prices, prescription drug prices and a reduction of that interest rate hike by the Fed. The economy without these caps of 3% or less the inflationary trends that are causing the most severe economic and financial crisis since the Great Depression will continue to cause irreversible damage to the future of America.

This free-for -all market system especially in housing where rent controls are thrown out the window has opened up the flood gates of misery all across the country. And according to the SHIP and HHRP programs established by the federal government which have set income limits and rent limits for all states have been ignored by landlords and real-estate holding companies. These income and rental limits are based on realistic incomes of millions of Americans. They also include realistic rents based on those realistic incomes.

In Tampa Fl. for example a family of three earning a combined income of $34,000 they should be charged no more than $832 for a 2-bedroom apartment. If they are in a 3-bedroom apartment their base rental charge is not more than $963 per month. Today what is actually happening is with the new emergence of Real Estate Holding conglomerates seizing multitudes of apartment complexes all across the country have managed to bypass and ignore these set guidelines established by the federal government.

What they have done in their zeal to accommodate their shareholders they have inflated rents all across the country. These inflated rents are nothing more than unjust enrichment that is fueling the inflationary trends nationwide.  By ignoring the federal guidelines set by SHIP and HHRP rents all across the country continue to drive an unsustainable market. Meanwhile millions of tenants have to make sacrifices to the point of being homeless just because they are unable to meet the price demands of an inflated housing market.