More Stimulus Would Aid Underperforming Affordable Housing
“At the onset of the pandemic, the government stimulus provided by the CARES Act helped many renter-occupied households and landlords stay solvent. As a result, luxury four- and five-star rated apartments took the initial hit, mostly due to oversupply versus a lack of demand. Now, as provisions from the CARES Act fade, losses in rent growth are beginning to widen—specifically for lower-income households and less expensive rental units, according to an analysis from Joey Biasi, a consultant at CoStar Advisory Services.”