Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. House panel holds hearing on pandemic evictions by corporate landlords

CoronavirusJul 27, 2021 02:42PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: Signs lay on the ground after people gathered outside of an apartment complex with the intention to stop the alleged eviction of one of the tenants in Mount Rainier, MD, U.S., August 10, 2020. While Maryland remains under a State of Emergency, 2/2

By Michelle Conlin

NEW YORK (Reuters) - Corporate landlords continue to evict tenants - many of them people of color - during the COVID-19 pandemic, despite a federal ban on evictions, a congressional panel was told on Tuesday.

The hearings followed last week's announcement by the U.S. House Select Subcommittee on the Coronavirus Crisis of an investigation into the practice, which has been the subject of several news reports, including by Reuters https://www.reuters.com/world/us/special-report-giant-us-landlords-pursue-evictions-despite-cdc-ban-2021-04-23/).

"Let me be clear, the aggressive actions of these large corporate landlords are unacceptable, and they must stop immediately," said Representative James Clyburn, the panel’s chairman.

As part of its investigation, the select subcommittee has sent letters to four corporate landlords: Invitation Homes (NYSE:INVH), as well as private equity firms Pretium Partners, Ventron Management and the Siegel Group. The letters ask for documentation about the companies' eviction practices, as well as all internal communications and policies regarding evictions and rent assistance. Clyburn asked the firms to reply by Aug. 3.

Together, the four companies filed more than 5,000 evictions during the pandemic, according to data from the Private Equity Stakeholder Project, a nonprofit group that tracks private equity's impact on everyday Americans.

The hearing occurred just days before the federal eviction ban expires on July 31. The Centers for Disease Control and Prevention first implemented the ban in September, in an effort to keep millions of Americans in their homes and out of crowded shelters during the pandemic.

Housing experts say the ban's expiration will likely pave the way for evictions, and possible homelessness, for many of the 6.5 million tenants still behind on rent. The federal government has approved $46.5 billion in rental assistance but so far only $3 billion has made its way to landlords, as localities struggle to ramp up the infrastructure to get the money out.

"Many of these landlords are increasing their share of the U.S. housing market, buying up homes, apartment buildings, and mobile home communities," testified Jim Baker, Executive Director of the Private Equity Stakeholder Project. "As we enter a critical new phase of the crisis facing renters, it is important that we remain vigilant to corporate landlords’ evictions of residents."

Republican members of the committee characterized the CDC eviction ban as an unconstitutional overreach that was unfairly hurting mom-and-pop landlords; their comments also focused on pandemic-era safety net spending, which they said was contributing to inflation, as well as immigration and the origins of COVID-19.

U.S. House panel holds hearing on pandemic evictions by corporate landlords
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email