On Sept. 3, the National Association of REALTORS® (NAR) wrote to Congressional leaders in an effort to secure a solution to the challenges introduced by the latest executive order to halt evictions through the end of the year.
NAR’s letter reads:
“The eviction moratorium imposed by the Administration, together with Congress’ failure to act on a robust emergency rental assistance plan, places the stability of the entire rental housing sector in danger,” the letter reads. “We urge Congress to take meaningful action now by providing stable and dedicated rental and unemployment assistance. Only through immediate action can Congress pull the country back from a potentially imminent housing crisis.
The action taken yesterday [at press time] by the Administration enacting a federal residential eviction moratorium through Dec. 31, 2020, without rental assistance, will ultimately harm the very people it aims to help. It will be impossible for housing providers, particularly small owners, to meet their financial obligations and continue to provide shelter to their residents. Furthermore, it saddles renters with an unmanageable amount of debt due to months of unpaid rent, potentially dating back to March.”