Evictions Could Lead To Homes For Sale, Squeezing Rental Market

A wave of evictions could mean more options for homebuyers, but fewer rental properties on the market. Today, the Supreme Court lifted the Biden administration’s eviction moratorium, declaring that it is almost certain the Centers for Disease Control exceeded their authority by imposing it.  The ruling exposes millions of Americans who are late on their rent to the possibility of eviction, and could impact an estimated 3.6 million households. It is unclear exactly how many evictions will take place. Many local governments have their own eviction moratoriums in place. Some landlords may decide instead to work out repayment plans with their tenants rather than risk their property sitting empty.  But if evictions do happen, the booming housing market could be…

Morning Roundup (8/27/21) – Eviction Moratorium Lifted, Bitcoin Play Raises Concerns

Good Morning! Today is Friday, Aug. 27. A terrorist attack at the Kabul airport killed 13 U.S. service members and at least 90 Afghans. President Biden said airlift efforts would continue despite the attack. Capitol Police officers sued former President Trump, along with groups like the Proud Boys, over the January 6 riot, saying they incited violence against officials and police. Hawaii’s Governor David Ige asked travelers to stay home through October as hospitals struggle with rising Covid cases. And in mortgage and housing news… Mat Ishbia’s Bitcoin Play Raises Concerns: UWM CEO Mat Ishbia’s announcement that he intends to accept Bitcoin has raised questions among economists and within the industry about encouraging consumers to rely on the “volatile” cryptocurrency for their mortgage payments.…

Supreme Court Ends Biden’s Eviction Moratorium

In an unsigned opinion released Thursday, the Supreme Court lifted the Biden administration’s latest moratorium on evictions, declaring that it is almost certain the Centers for Disease Control exceeded their authority by imposting it. The conservative majority sided with the Alabama Association of Realtors who argued that imposing such a moratorium requires congressional action, which is the position Justice Brett Kavanaugh took in his June, 2021 ruling on the issue. At least 11 million renters are considered seriously delinquent on payments, and an estimated 3.6 million households could face evictions in the coming months. “It would be one thing if Congress had specifically authorized the action that the CDC has taken,” the Court’s 8-page opinion states. “But that has not…