Published today in the Las Vegas Review Journal was an article entitle Seniors' subsidized rents rising and how the Authority can no longer withhold the increases to our county's low-income seniors. Residents will now face yearly rent increases tied to the U.S. Consume Price Index.
"We've tried to keep rents low enough that it...wasn't a hardship for
anybody," "But you have to keep pace. We have bills like every other
business. It was as fair as we could possibly make it."
The speaker, Carl Rowe, was booed by a number of senior citizen residents who attended the meeting.
This will become commonplace not only in Nevada, but nationwide as well. As State and Local government's budget shortfalls take place due to the current Recession and the drop in their collection revenues. And it couldn't happen at a worst time as rising energy costs are starting to feeding into operational expenses for apartment owners. This is how "Stagflation," the worst possible outcome of this recession, could hurt fixed-income retirees-renters and their landlords.
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