The effects of the pandemic economic shutdown on the rental market have been far lower than feared—at least at aggregate, not individual, levels. Is an eviction moratorium the most helpful tool at this point in the pandemic?
An article by Michael Hendrix suggests that the likelihood of an "eviction tsunami" is low, and that the federal government's eviction moratorium, ordered by the Centers for Disease Control and Prevention (CDC) and extended by the Biden administration until the end of July, actually did very little to stem evictions during the past year and a half.
The ineffectiveness of the CDC's eviction moratorium, however, might suggest that the rental market is not on the verge of a complete meltdown, as many advocates (and this author) have worried since the outset of the pandemic.
"The market and generous government aid seem to have done far more to avert an eviction crisis than the various moratoria on the books," writes Hendrix. Meanwhile the economic ice of the pandemic is thawing. "Renters are more confident in their housing security than even a few months ago, according to a new analysis by Zillow, and in contrast to the unmet fear of 30 to 40 million evictions last year, the number at risk of eviction today is closer to 2.7 million."
Though renters of color suffered disproportionate impacts in the pandemic rental market, "this is a case for financial aid more than for a blunt, crisis-induced eviction moratorium," writes Hendrix. "Helping renters receive financial aid and get better terms from property owners would do far more to avert painful evictions."
FULL STORY: Do We Really Need a Moratorium on Evictions?
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