Image from CNBC broadcast "Last Call," which aired July 12, 2024.
President Biden announced a 5% rent cap, if reelected, during a primetime press conference Thursday. The National Apartment Association (NAA) issued a swift, immediate reaction with a decisive statement the same evening. As a result, NAA's President and CEO Bob Pinnegar was invited to sit down with CNBC on Friday to discuss why the policy doesn't work, how it would further damage housing supply and affordability and instead offer sustainable, responsible solutions. Watch the full interview and read NAA's statement.