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Expanding the moratorium will only increase levels of debt on renter households and impede the recovery of the housing sector.
A broad real estate coalition came together on June 11 to applaud President Biden for stabilizing the housing sector and to encourage the administration to end the moratorium on evictions on June 30, 2021.
The Emergency Rental Assistance Program (ERAP), expanded unemployment insurance, stimulus checks, and broad financial assistance provided through relief bills were able to help the country avoid catastrophe and enable businesses, households, and individuals to recover. However, the real estate coalition is calling for an end to this assistance, urging the administration to cease the unsustainable moratorium on evictions.
“The continuation of a nationwide one-size-fits-all, federal eviction policy is at odds with the current economic environment,” the press release states. The coalition believes this will only place overwhelming levels of debt on renter households and impede the recovery of the housing sector.
"As the pandemic comes under better control, we look forward to working with the Administration to end unsustainable nationwide federal restrictions on property operations, implement workable solutions for renters facing housing instability and help the country recover," the coalition said.
The coalition is made up of 12 organizations that represent for-profit and non-profit housing owners, operators, developers, lenders, property managers, and cooperatives involved in conventional and unconventional rental housing.
Members of the coalition include CCIM Institute, Council for Affordable and Rural Housing, Institute of Real Estate Management, Manufactured Housing Institute, Mortgage Bankers Association, National Affordable Housing Management Association, National Apartment Association, National Association of Home Builders, National Association of Housing Cooperatives, National Association of REALTORS, National Leased Housing Association, and National Multifamily Housing Council.
For more information on the real estate coalition, contact Adam DeSanctis at adesanctis@mba.org or visit the MBA website.
