Real Estate Industry Applauds Biden Admin's Recovery Efforts Calls to End Eviction Moratorium by End of June

Real Estate Industry Applauds Biden Admin's Recovery Efforts

A broad real estate coalition today applauded the measures President Biden has taken to stabilize the housing sector and urged the administration to sunset the federal moratorium on evictions on June 30, 2021.

In a joint letter to President Biden, the coalition said the broad financial assistance provided through relief bills, including Emergency Rental Assistance Program (ERAP) funds, expanded unemployment insurance and direct stimulus checks, has helped avoid a financial catastrophe and provided a path to recovery for individuals, households and businesses alike.

“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 continuation of a nationwide one-size-fits-all, federal eviction policy is at odds with the current economic environment and will ultimately only serve to place insurmountable levels of debt on renter households and impede the recovery in the housing sector.

Moreover, the U.S. hit the lowest levels of new recorded COVID-19 cases and average daily deaths since March 2020 and vaccines are widely available with 63 percent of U.S. adults having received at least one vaccination.

The coalition is committed to working in partnership with policymakers at all levels to deliver housing assistance to renters while concluding the nationwide eviction moratorium at the end of June. The group consists of 12 organizations who represent for profit and non-profit housing owners, operators, developers, lenders and property managers and cooperatives involved in rental housing, both affordable and conventional.

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