All of the investment and rehab of properties in historically low income areas for apartments, at least, will eventually come to a screeching halt if the eviction moratorium keeps dragging on, though.
Housing providers of all racial backgrounds have a major hand tied behind their back if they can’t rely on the justice of being able to remove a nonpaying tenant. That threatens the stability of their investment and ultimately can slow investment down.
The funding streams going into these rehabs are probably from before, and also under the assumption that this is a temporary state of affairs, but as long as politicians keep extending the eviction moratorium further and further into the future it creates a sort of existential crisis for building owners—“Is this even my property any more? What happens if my tenant just decides to stop paying? I have zero recourse against him/her”. This has got to be in the mind of millions of owners and their lenders, which is why I’m guessing you are not seeing many banks seize rental properties in default right now because banks don’t want to be stuck with this lousy situation.
I mention this here because this threatens to derail investment in lower income areas of the city for all but for sale housing. I would hate to see our current progress stall.
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