By Steve Holland and Kanishka Singh
WASHINGTON (Reuters) – U.S. President Joe Biden’s administration will quickly reveal a 10% cap on annual lease increases for specific economical realestate systems that are subsidized by the federal federalgovernment, a senior administration authorities stated on Friday.
The action limits lease increases by home owners if they are part of a tax credit program for low-income realestate, the authorities included, validating information reported by the Washington Post.
The brand-new guidelines will be revealed on Monday, the authorities stated.
The U.S. Department of Housing and Urban Development did not instantly respond to a demand for remark.
With concerns about high ren