Rising Unemployment, Stimulus Bill Have Implications for Apartment Sector
Quote by Jonathan Needell | Institutional Real Estate, Inc March 30, 2020 Apartment investors are closely watching developments as...
September 5, 2020
Landlords say the U.S. Centers for Disease Control and Prevention’s unprecedented order for a national moratorium on evictions doesn’t solve pandemic problems without providing more rental assistance.
The sweeping pause on evictions took hold Tuesday evening, cover some 40 million renters and will apply through Dec. 31 for qualifying tenants who fill out a form and deliver it to their landlords.
The CDC’s finalized order aims to provide housing stability and prevent further spread of COVID-19, which top infectious disease expert Dr. Anthony Fauci said remains “unacceptably high” going into Labor Day.
But it also formalized a process that tenants and landlords across America have been trying to navigate on an ad hoc basis for months.
“I can’t believe we didn’t think of its sooner,” said Jonathan Needell, chief investment officer at Kairos Investment Management, of the CDC’s eviction ban, which he views as the federal government recognizing “that for health reasons, you can’t put people on the street.”
“The reality is we’ve been dealing with an eviction moratorium throughout this whole time anyway,” he said, referring to the hodgepodge of state and local orders that paused evictions since March, as well as courts that have been operating at limited capacity, creating backlogs for landlords looking to evict tenants who owe backrent.
Prior to this week’s CDC order, renter evictions were picking back up in some major U.S. cities, including since the extra $600 in unemployment benefits expired in July.
Quote by Jonathan Needell | Institutional Real Estate, Inc March 30, 2020 Apartment investors are closely watching developments as...
Done Deals August 31, 2022 Kairos Investment Management Company (KIMC), a firm that focuses on value-based real estate investments,...
Developers are converting closed hotels and motels into housing, aiming to offer affordable units in hot markets with high...
Affordable housing is known for its stability during economic disruption, but this downturn doesn’t look like anything seen before....
Law.com August 2, 2022 Indications that the high-performing industrial market has hit a plateau are growing, according to a...
Affordable housing properties just don’t have the scale to attract institutional investors. Quote by Jonathan Needell | GlobeSt.com March...
The additional $600 in unemployment benefits have helped to stabilized rents through the pandemic. Quote by Jonathan Needell |...
A “tectonic shift of capital” is coming to CRE, which could whip up valuations further. Quote by Jonathan Needell ...
18101 Von Karman, Suite 1100
Irvine, CA 92612
(949) 709-8888
(949) 800-8500
investorreporting@kimc.com
Copyright © 2024 Kairos Investment Management Company | Disclosures
Kairos Investment Management Company is an Equal Opportunity Employer and, as such, does not discriminate in employment on the basis of an applicant or employee’s race, ethnicity, ancestry, national origin, color, sex, pregnancy (or related medical conditions), childbirth, family status, gender, gender identity or gender expression, age, religion, marital status, sexual orientation, disability, medical condition, military or veteran status, reproductive health decision making, or any other protected classification or characteristic under applicable federal, state or local law. Kairos will not discriminate against an applicant or employee who has one or more protected classifications, is perceived or regarded as having one or more protected classifications, or is associated with someone who has one or more protected classifications.
Kairos Investment Management Company will also provide reasonable accommodations to applicants and employees who may need such accommodations in connection with employment with Kairos on the basis of their disability, religion, status as a victim of domestic violence or pregnancy. An applicant who needs an accommodation in order to pursue employment with Kairos should contact Human Resources at HR@KIMC.com to request such accommodations. Kairos will engage in a good faith interactive process with the applicant to explore accommodations that will be effective, reasonable and not create an undue hardship.
You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/
You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/