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Tag: House

Posted on January 20, 2023

White House prepares new tenant protections, alarming housing industry

White House prepares new tenant protections, alarming housing industry

The field is bracing for “some pretty rigorous regulation,” stated Jerry Howard, CEO of the National Association of Property Builders, whose customers incorporate landlords. “They want to be very careful about what they’re performing,” claimed Howard, who was a person of a handful of market associates at a November White Dwelling conference on tenant protections. “There’s a genuine possibility of generating a difficulty that doesn’t exist.”

With a feasible recession looming, the Biden administration will be wanting for techniques to offer reduction to income-strapped Americans suffering from a higher charge of living. Considering that the U.S. House is now underneath Republican regulate, the sort of sweeping financial legislation enacted in the course of the last two decades is off the table.

Democratic lawmakers together with Sen. Elizabeth Warren (D-Mass.), are leaning on the administration to go large by curbing rent boosts at millions of units in attributes with authorities-backed home loans – a long-shot go the White Property is not severely weighing, in accordance to a individual with know-how of the conversations.

“People just can’t pay for to reside,” explained Rep. Jamaal Bowman (D-N.Y.), who spearheaded a letter final 7 days with Warren calling on President Joe Biden to concern an executive action limiting rent hikes in properties backed by the Division of Housing and City Advancement or Fannie Mae and Freddie Mac, the federal government-controlled house loan financiers. “We want to force the president as considerably as feasible to lighten the stress of lease on day-to-day people today.”

Democrats want the administration to enact new limitations on hire hikes and punish landlords they accuse of price-gouging — “not just concepts, not just tips, but what can the president do through government action to lighten the burden on folks and place a lot more dollars in their pockets,” Bowman explained in an job interview.

The White Home declined to comment on the particulars of likely new regulations, pointing to a statement it introduced previous week in reaction to the letter from Democrats.

“We are exploring a wide established of administrative actions that even further our dedication to guaranteeing a truthful and reasonably priced market for renters across the country,” spokesperson Robyn Patterson said. “We appear forward to continuing to do the job with lawmakers to reinforce tenant protections and strengthen rental affordability.”

Though lease is continue to driving up over-all inflation — thanks in portion to a information lag in the official inflation gauge — the national median rent has fallen for 4 straight months, according to the most up-to-date info from Apartment List. New lease need plummeted in the second 50 {1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b} of 2022, when the web desire for residences fell into detrimental territory for the to start with time due to the fact 2009, in accordance to an assessment by RealPage Marketplace Analytics.

“Complicating this method isn’t excellent at any time in the industry cycle,” said Greg Brown, senior vice president of government affairs at the Nationwide Condominium Affiliation. “But we’re in the fourth straight thirty day period of hire declines. I believe issues are adjusting once more, so it does increase the issue, are they responding to a situation of 3 to four months back, not what is presently happening or will be going on in the in close proximity to long run?”

The association and 10 other marketplace groups urged Biden to resist stress to lay new federal needs on prime of current laws and said that executing so would “further exacerbate affordability worries,” in a letter past month.

Even as demand from customers eases, the market place is about to see a surge in offer – portending further price cuts. A lot more condominium models are at the moment beneath design than at any place considering that 1970.

“A good deal of rental provide is going to be finishing in 2023 — we’re likely to see extra completions than we have in 40-furthermore decades,” said Jay Parsons, chief economist at RealPage, a home administration software provider. “The stability of power genuinely has shifted toward renters — they’re likely to have extra options, more aggressive pricing and greater discounts.”

Bowman and tenant advocates argue that modest declines in rents – the countrywide median fell .8 p.c in December – hardly make a dent in tenants’ expenses following the eye-popping gains of the previous couple of years.

Even right after falling from its July peak, the median inquiring selling price in November was however 20.9 percent increased than it was at the same time in 2019, prior to the pandemic struck, according to the hottest month to month rent report from Real estate agent.com. About 53 p.c of tenants said their lease had greater by more than $100 for each month above the final year, in accordance to the most up-to-date Family Pulse study by the Census Bureau.

Hire was escalating even prior to Covid, Bowman mentioned, adding that a lot of of his constituents commit about fifty percent their profits on housing.

“The cooling result in the marketplace isn’t meaningfully switching situations for tenants,” claimed Tara Raghuveer, director of the Properties Warranty campaign at People’s Action. Raghuveer also attended the November White House meeting.

“The lease is nonetheless too damn high,” she reported.

Posted on January 8, 2023

New House speaker: How McCarthy’s California constituents see him

New House speaker: How McCarthy’s California constituents see him



CNN
 — 

The young man smiling in the last Bakersfield High School student newspaper for the 1983 school year was captioned – “Most Likely to Succeed.”

That graduating student wasn’t then-senior Kevin McCarthy, the California Republican who on Saturday became the House speaker for the 118th US Congress, a powerful position that puts him second in line to the American presidency.

“I was most likely to succeed,” laughs Marshall Dillard, McCarthy’s classmate and friend. “I’m sure he’s surprised some of his teachers. You’d have never thought this if you saw Kevin in high school.”

The lighthearted teasing traces back to Dillard and McCarthy on the high school football field in Bakersfield, California. The team was and is still called “The Drillers,” a reference to the oil industry of the district. Bakersfield sits in the southern end of California’s Central Valley and is one of the largest cities in the state’s 20th Congressional District.

Kevin McCarthy and Marshall Dillard in 1992.

It’s the district McCarthy represents as one of the most powerful Republican lawmakers in the country. With House Republicans holding a slim majority in the 118th Congress, a group of GOP hard-liners prompted a messy and historic floor fight for control of the speaker’s gavel. After voting had spilled into a fifth day, McCarthy broke through by conceding to a series of demands that weakened the power of the speakership. But ultimately, he won the gavel.

This was the sort of well-worn political knuckle fight of the DC scene – but far from the region that raised a young Kevin McCarthy.

Here, he’s known as the son of a firefighter whose less-than-stellar grades would suggest a far less powerful career path. But like the working town that raised him, the lack of polish would impart lessons that follow McCarthy today and offer clues into his speakership.

Marshall Dillard played football with Kevin McCarthy at Bakersfield High School in Bakersfield, California.

“He made up for it because he was scrappy, and he worked hard,” says Dillard. “In football, he wasn’t the biggest person. He wasn’t the fastest person. He wasn’t the strongest person. But he was going to give it his all.”

Rather than being seen by classmates as most likely to succeed, McCarthy was voted one half of Bakersfield High’s “Best Couple.” His girlfriend, Judy, would become his wife.

“Before he was going to ask her out, that’s the only time I saw him nervous,” remembers Dillard. The rest of the time, McCarthy charged into classes, sports or clubs with an ambition that eclipsed his apparent credentials.

Fellow students gravitated to McCarthy, not just for his humor and confidence, but for his friendship.

Kevin McCarthy and his wife, Judy, pose in front of Air Force One in 1992.

Dillard, now the principal of William Penn Elementary in Bakersfield, says a single moment from their teenage years speaks to the man who now leads the US House of Representatives. Dillard, who is Black, was the star player on the Bakersfield High School football team. He recalls a time when their high school was scheduled to play against a team from a notoriously racist rival high school. McCarthy and a couple of other White football teammates reassured Dillard, “They’re going to have to come through us before they get to you.”

“That cemented our bond,” says Dillard. The men have remained friends through the years, sharing their struggles, successes and tales of parenthood. Dillard declined to share his political leanings or say if he even agrees with McCarthy’s politics: “He always gets my vote. Politics is politics. They do what they do. I know Kevin on a personal level.”

On the 1983 yearbook’s local business sponsorship pages, “McCarthy’s Frozen Yogurt” takes up half a page. McCarthy has spoken about the yogurt shop belonging to his uncle and the place where he opened his first small business, “Kevin O’s Deli.”

In pictures: House Speaker Kevin McCarthy


Dillard, who would attend Stanford University, remembers Kevin O’s as a couple of tables in the corner of the yogurt shop. When Dillard would return home on school breaks, his friend always gave him a free sandwich.

Catherine Fanucchi, a farmer in Bakersfield, also grew up with McCarthy and calls him a friend today. She, like Dillard, left the Central Valley for school and a career – hers was as a lawyer. But home beckoned, and she joined her family farm, which traces its Bakersfield origins 100 years back.

“I would never see him staying down,” Fanucchi says of McCarthy. “He’s not that guy. He sees the sunny side of the street, and he’ll manage to find it.”

McCarthy would not stay at that sandwich shop long, sending in an application while he was in college to be a 1987 summer intern in Washington with then-Rep. Bill Thomas, a Republican from California.

Cathy Abernathy, who used to be chief of staff for US Rep. Bill Thomas, hired Kevin McCarthy as an intern in 1987.

His application came across the desk of Thomas’ chief of staff, Cathy Abernathy.

“He didn’t make the cut for summer,” recalls Abernathy, who would hire him for the fall in the Bakersfield district field office. “He will mention in speeches often: ‘I’m the congressman from the district that turned me down to be an intern.’ It’s a true story.”

McCarthy became Thomas’ protégé, learning about constituent work and then the politics of Sacramento and Washington. Ambition and an ability to engage with nearly everyone separated him from others.

“Well, he’s probably the best homegrown candidate for public office that we have. Born and raised, then community college, college, and his masters’ degree – all from here,” says Abernathy, who remains a longtime ally. They have a symbiotic political, yet deeply personal, relationship. She recalls how just months after her husband died, McCarthy officiated her daughter’s wedding, offering counsel and solace to the family.

“He’s in a bigger job, but he hasn’t forgotten small town America.”

Kevin McCarthy marries Cathy Abernathy's daughter Margaret and Josh Brost in 2018.

Thomas left Congress in 2007 and was succeeded by McCarthy. In the December 26 issue of The New Yorker, Thomas blasted his former protégé, saying, “Kevin basically is whatever you want him to be. He lies. He’ll change the lie, if necessary.”

“The Kevin McCarthy who is now, at this time, in the House, isn’t the Kevin McCarthy I worked with,” Thomas was quoted as saying.

The criticism came on top of Thomas’ first harsh public comments about his former staffer and friend shortly after the January 6, 2021, insurrection at the US Capitol. Thomas gave an interview to a local TV station accusing McCarthy of rolling over for Donald Trump and his election lies for political expediency.

McCarthy declined to speak with CNN for this story.

McCarthy did condemn Trump soon after the attack on the Capitol, saying, “The president bears responsibility for Wednesday’s attack on Congress by mob rioters.”

But not long after, McCarthy made a stunning reversal, saying, “I don’t believe he (Trump) provoked if you listened to what he said at the rally.”

Since then, McCarthy has catered to some of his party’s contentious members, vowing to reinstate Reps. Paul Gosar of Arizona and Marjorie Taylor Greene of Georgia on committees if Republicans won back the House.

And despite the back-and-forth on Trump, the former president supported McCarthy’s run for speaker and made calls on his behalf for the holdout votes. Trump has publicly referred to McCarthy as “My Kevin.”

The political malleability is familiar to Bakersfield conservative Paul Stine. The men have known each other since 1995, battling when they were young Republicans. “Kevin is the most adaptable politician I have ever seen in my life,” says Stine.

Bakersfield conservative Paul Stine has known Kevin McCarthy since 1995.

When they were younger, Stine viewed McCarthy as too centrist, like Thomas and Arnold Schwarzenegger.

“If the Kevin of today had been the Kevin of the 1990s, I doubt he and I would have ever had an adversarial relationship. I think he knows how to evolve his positions enough to stay viable in the political game. Do I consider him a conservative ideologue? No, not at all,” Stine says.

Dave Noerr, the mayor of Taft, a city in McCarthy’s district, brushes off the criticism, calling it a part of today’s politics. Noerr, who has worked with McCarthy since the early 2000s, calls him “unique and thorough in understanding energy and agriculture.”

Noerr has worked in and around the oil industry for most of his life. His town and the entire district relies on the energy industry for jobs and money but is seeing a rapid evolution as oil production gets slammed.

“By Kevin McCarthy coming from this area, understanding the need and the opportunity to integrate all those resources for the betterment of mankind, that is going to be critical to getting rid of the fantasies being peddled of some and the misunderstanding of so many,” says Noerr.

Dave Noerr is the mayor of Taft, a city in Kevin McCarthy's district.

Fanucchi, the Bakersfield farmer, declines to express her politics and state whether she agrees with McCarthy’s positions. More important to her is having a powerful representative in Washington who understands the challenges of feeding the nation in today’s economy.

“He comes from here,” Fanucchi says of McCarthy. “We have direct access to him, and he has access to people to help us tell our story. Our story is that the lifeblood of the Central Valley, of California, is Ag, which requires water and requires space. I don’t ascribe to the belief that you have to be like me to think like me, to do something great for us in Kern County or for our nation. I think you have to have clear eyes and a strong mind and work hard.”

Catherine Fanucchi, a farmer in Bakersfield, grew up with Kevin McCarthy.

A Republican, Noerr has hopes that the slim majority his party now holds in the House will be a blessing to help his district, rather than a challenge.

“The deep rifts that currently exist and unfortunately have been exacerbated recently, he’s (McCarthy) got to get rid of. We can find the common ground,” Noerr says. “Instead of having arguments, we have conversations. We will find that common ground. Do I think he can do that? Absolutely, I think he can.”

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