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Multifamily Housing Industry Reacts to Congressional COVID-19 Package
With April 1 approaching, and authorities racing to react in real-time to the impacts of the COVID-19 reality, on Friday, March 27, Congress delivered, at long last, the Coronavirus Aid, Relief and Economic Security (CARES) Act—a $2 trillion federal stimulus aimed at easing the pain of putting the global economy on ice.
Presented here is the response from the National Multifamily Housing Council (NMHC) and the National Apartment Association (NAA) on the law’s impact on multi-family rental housing markets. As well a summary of the Act's provisions pertaining to the U.S. Department of Housing and Urban Development:
"Instead, what should be a limited protective step is expanded to those who have not been financially impacted by the pandemic."
Read the full report at The Planning Report.