The CDC's moratorium on evictions, instituted by the Trump administration after the CARES Act expired in July, has been ruled unconstitutional. The decision will most likely been appealed but there is a chance the ruling will be upheld.

https://www.cnbc.com/2021/02/2...

How will this ruling affect your business? Does it move the needle for you in any way?

This is undoubtably great news for landlords and believers in property rights. However, the fact remains that most decisions and policies at the local level are more important than federal policies. Ultimately it is the decision of how the courts decide to handle filings.

Take a look at https://evictionlab.org/ to see how different states and municipalities have handled evictions. Even though the media has been warning of an "eviction tsunami" non has materialized. However, you will see in some market very few evictions have taken place, while others are tracking back to a normal level, but still below pre COVID numbers.

In my opinion, states and cities who have seen evictions since July are examples functioning markets. Markets where you cannot evict, an essential piece of our business, are not working and tend to be hostile to property owners. Markets that have somewhat respected property rights and are business friendly have clearly out-performed. Just look at NYC, LA, Minneapolis vs. Indianapolis, Tulsa, Norfolk, VA.

How does the local political climate effect your decision on where to invest?

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Judge: CDC Eviction Moratorium is Unconstitutional

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