Thursday, September 17, 2020

"Why the CDC’s moratorium on evictions won’t solve America’s looming $100 billion rental crisis"

Before we get to the story, the question:
How the heck does the CDC have any jurisdiction over evictions?
Rental law is contract law governed by the individual states and eviction law is administered by state subdivisions: counties, municipalities etc.

And from MarketWatch:
‘The Centers for Disease Control and Prevention announced in early September that it was establishing a temporary ban on evictions across the country’
Public-health officials have enacted a nationwide moratorium on evictions to protect Americans from COVID-19.

When the Centers for Disease Control and Prevention announced in early September that it was establishing a temporary ban on evictions across the country, the news was celebrated by housing advocates who feared that as many as 40 million Americans could be kicked out of their homes during the pandemic.

The bottom line: The historic move did not come with additional funding to support struggling renters and landlords across the country.Housing advocates and industry officials say if lawmakers don’t set aside funds for emergency rental assistance, the eviction crisis could hit a fever pitch once the current moratorium ends.

The moratorium doesn’t automatically protect renters — they must proactively fill out a form and send it to their landlord to receive protection under the CDC’s order. But the CDC’s moratorium was essentially a unilateral act.

White House officials stressed that some emergency funding at the Department of Housing and Urban Development and the Department of Treasury — including money allocated by the CARES Act — could be accessed by struggling renters and landlords alike.

Congress, however, has not yet appropriated any funds for the explicit purpose of providing rental assistance. Meanwhile, millions of Americans remain unemployed because of business closures triggered by the coronavirus pandemic.

The $600 in supplemental unemployment payments expired many weeks ago — the Trump administration has allowed states to tap emergency funds to provide an additional $300 per week in unemployment payments to eligible workers. But those funds too are likely to run out soon....
....MUCH MORE

Also at MarketWatch:
‘We bet on the wrong horse’: I co-signed my nephew’s $55K student loan: He has no degree and no job. What should we do?