Madison rent prices are soaring at a record pace and residents are feeling the effects ripple through their lives — but the city has concluded the only legal solution to control the increases is to build more housing.
That’s an answer that will take years to show results while tenants face life-changing decisions right now.
Wisconsin state laws prohibit more proactive measures from local governments. And the few support services that exist for housing are already overwhelmed by the amount of need in the city......more
RSK: Of course it is always the Landlord who is the bad guy. Nothing to do with the city increases in taxes and water/sewer fees which have gotten out of hand. Not to mention inflation rates because we keep printing money at 8% per year. How about the city saying if developers and landlords hold some units back and do not increase rents at such a high rate, they will hold real estate taxes where they are? Many landlords lost money in the 3 year rent covid moratorium and I know several who didn`t make it. Did the city say we will hold your tax rates? No! So mayor, please start putting some teeth behind or gripes and work with the landlords instead of chastising them. There are other things besides rent control...like expense control. The other problem is private equity and REITS buying up homes and apartments and controlling them from out of town. This too, raises pricing.,,
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- - Volume: 11 - WEEK: 21 Date: 5/23/2023 1:51:26 PM -