Biden to unveil plan to cap rents as GOP convention begins, Washington Post says

President Biden will unveil a new proposal in Nevada on Tuesday to cap rental costs nationwide, as he works to assuage Democratic concerns about the viability of his candidacy while the Republican convention gets underway, The Washington Post’s Jeff Stein and Rachel Siegel report, citing three people familiar with the matter. The policy push reflects the White House’s efforts to respond to widespread voter anger over high housing prices, which have soared since the pandemic and undermined Biden’s standing among voters about the economy, the authors note. Publicly traded companies in the space include AvalonBay (AVB), Equity Residential (EQR), Essex Property Trust (ESS), UDR (UDR), Camden Property (CPT) and MAA (MAA).