Supreme Court Lifting CDC's Eviction Moratorium
I know a landlord who said that he will unload some units when the eviction moratorium ends, but I don't understand why.
With the flexibility of evicting non-paying tenants returning as a card to play, I would assume that the risk of having tenants lessens, thus increasing the demand for rental units.
I am confused. What do you think will happen when the eviction moratorium ends?
i.e. From National Association of Realtors email:
In a 5-4 ruling Tuesday evening, the U.S. Supreme Court said the Centers for Disease Control and Prevention (CDC) lacked authority to implement a blanket, nationwide eviction moratorium.
Although the court declined to lift the ban immediately, the ruling means the current moratorium will expire at the end of July.
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The Supreme Court did NOT lift the moratorium as expected:
"WASHINGTON, June 29 - The U.S. Supreme Court on Tuesday left in place the U.S. Centers for Disease Control and Prevention's ban on residential evictions imposed last year to combat the spread of COVID-19 and prevent homelessness during the pandemic, dealing a setback to landlords who had challenged the policy. The justices declined a request made by a group of landlords to allow a federal judge's decision to block the eviction moratorium to go into effect nationwide while litigation in the dispute continues. The moratorium is due to expire on July 31." (Source: Reuters)
A Federal Appeals Judge had overturned it but the Supreme Court trumps him so it stays in place until July 31st.
And, there has never been a better time to sell and profit big on real estate. For those investors who are waiting on the moratorium to end to sell, good for them. Their challenge might very well be how to reinvest the proceeds...I'm sure they'll figure it out.