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  • Comment Detail

  • Date: 10/17/22
    First Name: Joy
    Last Name: Mart
    Organization: N/A
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AB21

  • Comment

    Dear Director Thompson and FHFA team,

    My name is Joy and I live in Cape Girardeau Missouri. I’m writing in response to the FHFA Multifamily Enterprise Housing Goals Proposed Rule Comment Request: ‘Community Support Requirements, (No. 2022–N–11) Multifamily Enterprise Housing Goals Proposed Rule.

    Here in rural Missouri, I am paying $900/month for a small 2 bedroom, 1 bathroom duplex. My landlord recently told us we should be grateful we are getting such a good deal, since "market value" for our apartment is $1200. I have 6 months left in my lease, and I am afraid to stay here or to move because I cannot afford a $300 rent increase. I have been looking in the area and the rent is skyrocketing, even though the number of renters has not risen. Corporate and individual landlords are taking advantage of post-covid recession inflation, disregarding the value decrease in income. These properties are not worth their listed rent.

    The rent is too damn high and I’m counting on FHFA to take every possible action to regulate rents for all properties with federally backed mortgages. If our public money is financing the business of making money on our homes, the least that you can do as a regulator is attach conditions to these resources that benefit the people. FHFA has successfully taken bold action in the past to help protect tenants during COVID-19 and to look out for residents of manufactured housing, and I am counting on FHFA to take similar action to help tenants like me during this time of intense economic hardship.

    I am a leader of Cape Girardeau Tenant Union and a leader with the Homes Guarantee campaign. The Homes Guarantee campaign is led by over 52 tenant-led organizations from all corners of the country. We have a long term vision for a world where everyone has access to safe, sustainable and TRULY affordable housing. In the short term we are organizing to win an executive order on rent regulation from the President— see more here: https://damnhighrent.com

    Thank you for your attention to this matter. If you would like to get in touch with me, please contact Grace White, the Homes Guarantee Organizer at g.white@peoplesaction.org.
    Sincerely,
    Joy Mart