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Axios Re:Cap

America’s next housing crisis

Axios Re:Cap

Axios

Daily News, News

4.5705 Ratings

🗓️ 5 August 2020

⏱️ 11 minutes

🧾️ Download transcript

Summary

An early pandemic fear was that people would be unable to pay rent and that it would lead to a surge in homelessness. Lawmakers intervened, creating municipal, state-level and federal eviction moratoriums — but many of them have now expired, including the federal moratorium put in place by the CARES Act. Dan discusses the looming housing crisis and where it factors into current stimulus negotiations with Alieza Durana of the Eviction Lab at Princeton University.

Transcript

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0:00.0

Hi, I'm Dan Pramak and welcome to Axios Recap. Today is Wednesday, August 5th.

0:08.0

Stocks are up, the odds of in-person school this fall are down, and we're focused on the United States of Eviction.

0:26.6

One of the earliest pandemic fears was that we were about to see a surge in homelessness, as people who lost their jobs wouldn't be able to make rent.

0:30.6

So lawmakers intervened, creating eviction moratoriums that not only kept people sheltered,

0:36.6

but also may have slowed viral spread.

0:40.5

Now, though, the situation has deteriorated. 30 state moratoriums have expired since May,

0:46.7

according to the Eviction Lab Project at Princeton University. A federal moratorium,

0:52.1

which covers more than 12 million low-income renters, expire July 25th.

0:57.5

If it's not extended, landlords could begin eviction proceedings later this month.

1:03.6

Like a lot of things, early eviction moratoriums were designed as bridges to late summer,

1:09.0

when the virus was expected to be under control.

1:11.7

But it's not, so everyone's scrambling.

1:14.8

That includes Washington politicians who are trying to include tenant protections in the new stimulus package.

1:21.2

Both parties generally agree the federal moratorium should be extended, although differ on for how long,

1:28.6

and agree there should be some rental assistance payments, although differ on how much.

1:33.6

President Trump, for his part, has floated the idea of dealing with this through executive

1:37.6

order, although hasn't provided details.

1:41.2

Remember, all of this is more dire because those $600 per week expanded unemployment benefits?

1:47.9

Well, those expired on the same day that August rent was due for many.

1:53.3

The bottom line, America's public health crisis could soon become its public housing crisis

1:59.0

and a private housing one too. We'll go deeper in 15

2:03.1

seconds with Elisa Durana of the Eviction Lab at Princeton University. But first, this.

...

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