Housing industry sees major ‘crisis’ if Trump eviction ban includes no rent aid

The Trump administration’s new nationwide ban on the eviction of tenants and Congress’ inaction on rental aid are putting the “stability of the entire rental housing sector in danger,” a coalition of a dozen housing industry groups warned on Thursday.

Facing a potential wave of evictions amid the worst economic shock since the Great Depression, the White House on TuesdayBut the policy includes no funding for rental assistance — leaving landlords in the lurch while merely delaying evictions for tenants who cannot come up with the funds to pay back rent when the moratorium expires.

“Without rental assistance, the real estate industry is being mandated to shoulder an unrecoverable financial burden that could lead to the greatest rental housing crisis of our lifetime,” the group of organizations representing both for-profit and nonprofit rental housing providersPowerful industry representatives — including the National Association of Realtors, the National Association of Homebuilders and the Mortgage Bankers Association — signed the letter, which was copied to...

The ban “will ultimately harm the very people it aims to help,” they wrote. “It will be impossible for housing providers, particularly small owners, to meet their financial obligations and continue to provide shelter to their residents. Furthermore, it saddles renters with an unmanageable amount of debt due to months of unpaid rent, potentially dating back to March.”

Source: News Formal (newsformal.com)

Political to the core. Truth

Utilities will be starting shutoffs to millions across the country this month. That will make the apartments uninhabitable and could be a work-around to evict people despite the CDC eviction order.

You People. You cry about the rich blah, blah, then complain they are not being treated well enough.

So this literally helps no one. It’s a statement to appease HIS followers & a way to make him “look good” but nothing to help renters nor any monetary assistance landlords either who also have bills to pay. I feel for both the renters & landlords. Tough choices in lean times

AliceOllstein You mean those landlords who probably voted for tRUmp?

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