Note & Real Estate News

Published: Fri, 08/20/21

Hi ,

Trade groups representing property owners have filed a lawsuit to block a new federal eviction moratorium that Joe Biden directed the Centers for Disease Control (CDC) to extend for an additional 60 days.

The Alabama and Georgia chapters of the National Association of Realtors (NAR) filed suit in federal court, alleging the White House “caved to political pressure” and reinstituted the moratorium “without providing any legal basis for its action.”

The CDC extended the moratorium earlier this month, changing it only slightly so it appeared to be targeted to areas with “substantial” and “high” levels of community transmission of COVID-19. According to NPR, this definition covers 82% of the counties and 90% of the population in the United States.

To learn more, check out the top story in our Note & Real Estate News section below.

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W. J. Mencarow
President, The Paper Source 🔸 Where The Note Industry Meets

Note & Real Estate News

Landlords Sue CDC Over Extension of Eviction Moratorium

Since the beginning of the pandemic, the government has effectively stripped landlords from their property rights by banning them from collecting rent or evicting a tenant who refuses to pay it.

Major Landlords Sue L.A. for $100 Million over Eviction Moratorium

GHP Management Corp. and several other companies owned by developer Geoffrey Palmer are suing the City of Los Angeles for $100 million over its eviction moratorium, saying the policy has resulted in massive losses to the firm.

Real Estate Industry Spends Over $100M Lobbying Against Eviction Moratorium

The country’s largest real estate industry group, the National Association of Realtors (NAR), spent more than $84 million last year challenging the ban that prevented evictions nationwide. The NAR has spent another $18 million in 2021 alone, challenging the very policy that the Biden administration extended earlier this month.

White House Unveils New Measures to Stave Off Foreclosures

The latest steps are intended to allow homeowners who lost their income as a result of the pandemic to extend their monthly government-backed mortgage with lower payments, according to a White House fact sheet.

Rental Nation? Depriving Americans of Home Ownership Could Be a Good Thing, Economist Says

The American dream of home ownership should be replaced by corporate investors snapping up houses and turning them into rentals, one economist is proposing.

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