Coming soon to a theater near you - eviction moratorium

[Serge S.]

Phoenix halts evictions

City after city enacting eviction moratorium. How does a large multifamily owner deal with this and how is it going to effect your business? For me this is a major concern if not the biggest short term risk. A nationwide moratorium would be catestrauphic for the industry although its doubtful that would happen at this point. Most likely will be state to state.

If your buying large multifamily, how do you underwrite year 1 or 2 at this point?

If your in contract to buy multifamily, what changes? Are you as buyer retrading or are your buyers retrading? I'm in at the tail end of a stalled sale and middle of a purchase. Everything up in the air right now.

For those of you that purchased late 2019 at market peak prices and low cap rate, any concerns yet?

[Cynthia Brooks]

@Greg Dickerson

https://therealdeal.com/2020/03/15/new-york-halts-evictions-statewide-due-to-coronavirus/

They found a cheaper and quicker way of taking our properties by forcing many onto forclosure . Just read on TheRealDeal....NYC Statewide Evictiom Moratorium until further notice. Effective 3/16/20 Monday after 5pm. They went from 1 week time period to indefinate within 2 days. Hope the public is not hoarding For Sale signs.