CDC EVICTION Moratorium EXTENSION | What It MEANS | Has the eviction moratorium been extended
On August 3, 2021, the CDC extended the eviction moratorium till October 3, 2021. This video discusses the eviction extension moratorium order, whom it impacts, and what are the implications for landlords and tenants. So the CDC imposed eviction moratorium ended on July 31, 2021. This was after the Supreme Court, in June, ruled the eviction moratorium as being unconstitutional in a 5-4 vote and stated that unless Congress were to impose a law, the eviction moratorium should end. Needless to say, there was a significant amount of pressure leading up to the July 31 deadline to the White House, Congress, as well as the CDC to extend the eviction moratorium citing the delta variant and suggesting that people, i.e. the tenants, continue to need help due to the delicate state of the economy and unemployment still being relatively high. The WH asked Congress to act and once they didn't do so, several high-ranking members of Congress commenced the blame game and held the White House as well as the CDC responsible. Feeling the enormity of the pressure, the WH suggested on 8/3 that they would resurrect the eviction moratorium in select regions that were impacted substantially by the delta variant. Fast forward a few hours later, the same CDC who had issued an unconstitutional eviction moratorium in the eyes of the Supreme Court, issued a “Temporary Halt in Residential Evictions in Communities with Substantial or High Levels of Community Transmission of COVID-19 To Prevent the Further Spread of COVID-19.” In the CDC order, there is some new data and incremental information about the Delta variant basically discussing how contagious it is, and how evictions could lead to a mass migration of the population to shared housing, increased homelessness, and how that will inturn increase the likelihood of the transmissibility of the disease. It also discusses the positive aspects of vaccinations and how impending evictions will impact largely unvaccinated communities. Now a key thing of the Order is that it's supposed to be focused on targeted and hardest-hit areas as opposed to a generic Order covering the whole country. The Order specifically states, “This Order Applies in U.S Counties experiencing substantial and high levels of community transmission levels of SARA-COV-2 as defined by CDC, as of August 3, 2021." However, the CDC Order covers more than 70% of Americans since most of the country is considered substantial or high risk of spread. So what is the impact of this on landlords, tenants, and the courts Well, the population with the most to lose is mom-and-pop landlords with uncooperative tenants. Congress has appropriated almost $47B to make up the shortfall for landlords and only $3B has thus far been distributed. The biggest challenge is to obtain the funds the renter or the tenant needs to drive the process. In certain instances, the landlords can fill out the forms, but it still requires tenant cooperation. If you are able to get your tenants to cooperate, the states are ineffective and it's almost impossible to gain access to these federal funds. For example, if you live in Illinois and go to the Illinois Housing Development Authority (IHDA) site, you will find this on the landing page. “The tenant-led application period for the Illinois Rental Payment Program is now closed for new applications until further notice.” As I mentioned earlier the moratorium expired on July 31st and the CDC extension came out on August 3rd. During that couple of day period, the courts were being asked to encourage landlords and tenants to enter mediation rather than move towards eviction and the judges are being trained in this manner. So what's next. In summary, this is nothing but a stall tactic as the Supreme Court has already ruled on the constitutionality of the CDC order. However, perhaps this will provide an opportunity for states to disburse more funds, and perhaps landlords can continue to encourage tenants to cooperate and help their fellow citizens. Relevant links: Eviction Moratorium Extension: • Will the Eviction Moratorium Be Extended |... CDC Eviction Moratorium Extension Order: https://www.cdc.gov/coronavirus/2019-... Is your county or city covered by the eviction moratorium extension: https://covid.cdc.gov/covid-data-trac... Illinois Housing Development Authority: https://www.ihda.org/about-ihda/illin... Subscribe: / @buildingyourfinancialfutur7843 My other channel: / quickmoneystocks DISCLAIMER: The opinions expressed in these videos are not meant to be financial advice. Always consult with your financial advisor and do your own due diligence as individual facts and circumstances may vary. #evictionmoratoriumextension #evictionmoratorium
