The Expiring Eviction Moratorium: A Looming Housing Crisis and Possible Solutions

CDC eviction moratorium will expire by year end which impacts countless American’s losing their homes or apartments. So, what is the impact on the housing crisis in conjunction with the rising pandemic? The CARES Act provided a temporary fix and without an eviction extension or a rental assistance mandate a massive eviction and an escalating homeless problem will occur. Conversely, landlords and bankers have felt the impact of this moratorium as it does not address debt forgiveness, tax abatements, or rising property operating costs which continue to escalate without any near term signs of abatement. Especially impacted are the individual investors or small landlords who reportedly approximate 40% of the rental ownership housing stock. A potential solution would be a rental assistance package enacted by Congress vs. an extension of the moratorium program which does not address the problem or pandemic that resulted in the loss of over 20 million jobs. Alternatively, tax relief for landlords impacted by this moratorium and the residual effect on their investments may be a possible short term solution. Moreover, the time and costs involved with an elongated eviction process will simply add to the existing problem. So ... what is the solution??