As Congress again deliberates over additional COVID-19 relief, NMHC and its industry allies continue to impress upon lawmakers the importance of including provisions supporting the housing industry in any future legislation.
NMHC continues to urge the passage of additional COVID-19 relief that includes additional unemployment and rental assistance, which will ensure that residents remain stably housed and property owners and managers maintain the ability to operate their properties. While the housing sector ultimately needs dedicated assistance, Congress can provide additional assistance by extending the time period for states to use the funds provided through the CARES Act Coronavirus Relief Fund (CRF). The authorization to commit those funds is set to expire on December 31, 2020.
As outlined in NMHC-led industry coalition letters sent on November 30 and November 9, the housing industry urges Congress to extend the current-year end deadline for state and local governments to use CRF funding through the first quarter of 2021 and support additional COVID relief measures.
Protracted eviction moratoriums are not a long-term solution and fails to address a renter’s underlying financial distress or risk of housing insecurity. The current Centers for Disease Control eviction moratorium was issued without rental assistance, which sets up an untenable situation for all parties involved. A multi-pronged response is needed to ensure that housing providers will be able to cover their debt, payroll, property taxes and increased operating expenses while preserving housing stability for millions of Americans.
America’s renters and housing providers need immediate support to stabilize the sector and avert an impending housing crisis. That is why it is critical that lawmakers act now. NMHC will continue to work with lawmakers and keep members apprised of ongoing negotiations.
- DOJ to Appeal Texas Court’s Ruling Regarding CDC Eviction Moratorium
- Texas Court Rules CDC Eviction Order Exceeds Federal Authority
- Treasury Releases Updated Emergency Rental Assistance FAQ
- FHFA Releases 2021 Scorecard for Fannie Mae and Freddie Mac
- February 2021 Real Estate Coalition Letter to Senate Banking Regarding Rental Assistance