Small Multifamily Owners Struggle With Eviction Moratorium As Tenants Face An Uncertain Future
“There’s been a significant burden on apartment owners because they have their own bills to pay, they’re effectively paying the rent.” – David M. Dworkin
CRE Asks: What Happens To The Bottom Line When Unemployment Benefits Run Out?
“The flip side of the moratorium is that it’s an unfunded mandate. We’ve been asking the landlords to carry the weight, and the smaller ones especially don’t have the resources to do that. Even larger owners have negative balance sheets and increased costs, especially of maintenance and sanitation.
So there’s a crisis for both renters and apartment owners. We’re headed for a cliff, and it’s approaching fast. The answer is rental assistance at the federal level, because states moratoriums mean people aren’t paying their rent for now, but they will have to eventually.” -David M. Dworkin
Apartment Industry Advocates Lobby for New Stimulus Legislation as Senate Goes on Recess
“There is a threat of a massive wave of evictions. I am hoping that the impetus for Congress to take action is not when sheriff’s deputies on a large scale start dumping people’s personal effect and children’s toys onto the sidewalk. I don’t think it takes a lot of social media to provoke a reaction to that.” – David M. Dworkin
Evictions are likely to skyrocket this summer as jobs remain scarce. Black renters will be hard hit.
The moratoriums are a temporary remedy that could lead to a bigger problem for renters asked to quickly catch up on missed payments when the bans lift, said David Dworkin, president of the National Housing Conference, which has called for the creation of a large-scale rental assistance program. “This is a once-in-a-100-year pandemic. It is not unreasonable to expect the government to cover” lost rental income, he said.
Trump tweet about fair housing law enrages advocates
“Scrapping the rule would completely remove an incentive for state and local entities getting federal money from HUD to engage in equitable housing practices.” – David M. Dworkin
[PULSE] Housing’s role in attacking systemic racism
“Systemic racism must be fought systematically. Our country needs to take intentional steps to produce tangible, economic gains for Americans who remain in the shadow of social injustice. One place to start is in housing.”
GSE capital plan would make buying a home more expensive, critics say
“I’m concerned it’s an ideological assault on the housing economy, and it will result in extending the recession significantly. Housing has been a historic component of post-recession recovery and this rule makes that impossible.” – David M. Dworkin
What you need to know about paying your June rent or mortgage
“Document every conversation and follow up in a letter or email noting what was discussed in your phone call. This will help you and the next person you talk to when you call back or they call you.”- David M. Dworkin
Bank Regulator’s Battle With Anti-Redlining Law Comes to an End
“I told him: This is a legacy opportunity. If you do this right, no one will touch it for 15 or 20 years. There are many people who believe that he wanted to gut C.R.A. I can’t make that judgment, but I can say that what he has done will gut it.” – David M. Dworkin
OCC Finalizes Community Reinvestment Act Rule Changes
“In a letter from April 8, the National Housing Conference responded to proposed changes to CRA rulemaking, stating that ‘we have no idea how severely the pandemic will impact our economy, the financial system and communities throughout the nation. Committing resources to regulatory initiatives that do not directly support our national response to the COVID-19 pandemic is a dangerous distraction.”