What We were Supposed to Do Long Time Ago

Apartment rent prices these days are escalating ridiculously. Due to the long-lasting economic stagnation of the U.S mostly resulted from the Sub-prime effect, numerous people cannot afford to purchase shelters on their own as a result growing number of home-seekers are leaning towards rent apartments until they can create enough financial capacity.

However, even the renting apartment is not an easy strategy for numerous people considering the skyrocketing rent fees and constantly growing demands. Moreover, as the apartment owners are inclined to raise the rate through various excuses such as building renovation. In short, apartment rents these days are hard to get and even more difficult to maintain.

In order to relieve this rent crisis, government has come up with considerable number of solutions. For instance, rent-stabilized apartment is considered as one of the most effective government policy to make people’s dream of procuring homes more affordable. This apartments with the government controlled rent rate can be rented with the half the price of the market value.

Nevertheless, the greatly effective approach of the government is thwarted by the inconsiderate regulation. For example, Mr.Rangel, a democrat politicians who is chairing the House Ways and Means of committee, is currently enjoying his four stabilized-rent apartments, and it is found that he is planning on using some of these government granted benefit as his new office. In other words, it is evident that the rent stabilization policy of the government is not benefiting the desperate home-seekers but the wrong people.

In order to maximize the effect of the philanthropic government measure, it will be critical to straighten the priority list of people that will be benefited by such policy clearly and strictly limit the number of apartments that can be granted to each household in order to prevent any abuse of this beneficial policy.

Rent-stabilized apartment is indeed an efficacious break through to soothe the rent-shortage crisis. However, without proper regulations to back the ingenious policy up, such creative approach of the government may end up being labeled as a failure.