Further Relief Needed from COVID-19 for Renters and Housing Providers
The $2.2 trillion coronavirus relief package of the Coronavirus Aid, Relief, and Economic Security (CARES) Act included many strong provisions for the housing industry, such as small business loans to support operations, tax credits to help retain employees through the downturn, new banking provisions and mortgage forbearance.
However, housing providers, their employees and their residents will need additional economic relief to help avoid significant, long-term damage to the housing sector.
Specifically, NAHB and other real estate providers are asking Congress to:
- Provide direct rental payment assistance to multifamily properties on behalf of renters impacted by COVID-19
- Expand federal mortgage forbearance for multifamily properties
- Limit the eviction moratorium provisions to COVID-19
- Expand the Small Business Administration’s Paycheck Protection Program so all housing firms are eligible for relief
Read the full coalition letter to Congress for details regarding these provisions.
NAHB members are encouraged to contact their members of Congress to educate them about the need for additional relief for both renters and housing operators in future COVID-19 stimulus and recovery packages. A template letter, available through BuilderLink, outlines the rental housing industry’s requests of Congress.
Visit nahb.org for more information on efforts to support the multifamily and affordable housing industries, and home builders across the board.
Latest from NAHBNow
Aug 21, 2025
New and Existing Homes Remain Largely Unaffordable in Second QuarterWhile new homes remain largely unaffordable, builder efforts to improve housing affordability paid dividends in the second quarter of 2025, according to the latest data from the NAHB/Wells Fargo Cost of Housing Index (CHI). The CHI results from the second quarter of 2025 show that a family earning the nation’s median income of $104,200 needed 36% of its income to cover the mortgage payment on a median-priced new home. Low-income families, defined as those earning only 50% of median income, would have to spend 71% of their earnings to pay for the same new home.
Aug 20, 2025
Custom Home Building Grows as Broader Housing Market StrugglesAn analysis of census data by NAHB economists shows that custom home building grew 4% in the second quarter of 2025 as high interest rates and home prices suppress demand for traditional spec home production.
Latest Economic News
Aug 21, 2025
Existing Home Sales Rise in JulyExisting home sales rebounded in July as mortgage rates retreated from the recent peak and home price growth slowed, according to the National Association of Realtors (NAR).
Aug 21, 2025
New and Existing Homes Remain Largely Unaffordable in Second QuarterWhile new homes remain largely unaffordable, builder efforts to improve housing affordability paid dividends in the second quarter of 2025, according to the latest data from the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI).
Aug 20, 2025
Retreat for Single-Family Built-for-Rent HousingSingle-family built-for-rent construction fell back in the second quarter, as a higher cost of financing crowded out development activity.