Reasons why Rent Stabilization is Needed Now Residents, especially retired/disabled seniors, are being priced out of thier homes, purposely with,” AI inflated rents for profit”, by corporate investors, increasing homelessness and deaths. Many elderly or disabled, downsized to Manufactured Home Communities with thoughtful budgeting to avoid being a burden to taxpayers. The MHC where I reside, was purchased in late December 2022, by Corporate investmentors, that claims, “we are affordable housing”. Since then, following MHI directive, and AI comparison, they have raised my rent 70% in 2.5 years. Within that same time my net fixed income has only increased 7%. Previously, the property owner rent increases were 2-4% annually. These increases caused our community to be unaffordable and unstatainable to many neighbors on fixed incomes. Rent stabilization aligns with the Affordable Housing Plan objectives, by assisting to prevent episodes of homelessness and by housing residents in stable settings by limiting high inflated rent. Rent Stabilization is supported by the Washington Low Housing Alliance, AMHO, and several other human service organizations, and city leaders. In June 2024, the 1st LD Democrats adopted new resolution to support Emergency Transition Funding and Legislation passage of Rent Stabilization policies in alignment with fixed income annual COLA increase. In July, 2024, President Biden, called for support for rent stabilization of not more than 5% Increases. Sadly, hundreds of Washington residents are facing additional increases monthly. Well see how many are forced into homelessness, in the months ahead. The effects of possibly losing your home, has huge impacts on health of our elderly and most vulnerable, many suffering increased illness and death. The HIP Health Impact Report 2024, revealed tenants are suffering health wise harms from corporate landlords misuse of power and inflated rent increases. Senators can stabilize rents while more housing is being built.