That hardly sounds like “it’s not working” and more like the cap was just calibrated poorly at the start and needs to be expanded to cover more renters.
Yeah, and there have also been weird things with cutoff dates. There was one year where the cut off was just before the highest inflation, so landlords increased prices as high as they could to make up for “missing” the inflation bump:
Yikes. Good on you for buying a place. I got straddled with a $2500/mo place during COVID because my roommates all flaked before me lol. That shit was not fun.
That hardly sounds like “it’s not working” and more like the cap was just calibrated poorly at the start and needs to be expanded to cover more renters.
Yeah, and there have also been weird things with cutoff dates. There was one year where the cut off was just before the highest inflation, so landlords increased prices as high as they could to make up for “missing” the inflation bump:
https://www.opb.org/article/2022/09/13/oregon-maximum-rent-increase-announced/
I am so lucky I got out when I did. I had been renting a 3 bedroom apartment for $1,800 a month.
In 2021, I took the cash I banked working from home and bought a 3 bedroom house. Mortgage is $2,000 a month.
My old apartment is now $2,300 a month.
Man, I would love a 3 bedroom apartment for that!
Living in SF Bay area.
Well, you just need to downgrade to Tualatin, Oregon. :)
Yikes. Good on you for buying a place. I got straddled with a $2500/mo place during COVID because my roommates all flaked before me lol. That shit was not fun.