Saturday, April 30, 2011

Third Time's the Charm? Right to Rent Reintroduced in Congress

I noted below that allowing owners who are foreclosed on to become renters instead of just evicting them would solve a lot of problems. It turns out that there is a piece of legislation called the Right to Rent Act that would do that. Economist Dean Baker came up with this proposal, and this link goes to his blog at the Center for Economic and Policy Research, where it is announced that the bill was just re-introduced. It didn't clear the House Financial Services Committee in 2010, when Barney Frank and Nancy Pelosi could have green-lighted it, and it had 23 co-sponsors including many members of the Progressive Caucus. I don't know the story on that yet. Now, of course, it is in a GOP-controlled House. In any event, I think Rep. Grijalva has the right idea in pushing it.

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