One unintended consequence of the eviction moratorium

Although it will take years for the full effects of the U.S. Centers for Disease Control and Prevention’s eviction moratorium to affect the housing market, we can see that it was a poorly conceived policy with consequences that were never adequately addressed.

On the one hand, many mom-and-pop landlords are facing financial hardship or even ruin. On the other, countless tenants have slipped into insurmountable debt that could haunt them for years to come.

To put the current moment into context, since the 2007–2008 financial crisis, we’ve witnessed a gradual restructuring of residential rental property ownership toward institutional investors. Lured by government incentives during the aftermath of the

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