Further Relief Needed from COVID-19 for Renters and Housing Providers

Codes and Standards
Published

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.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Economics

May 23, 2025

Volatile Spring Selling Season Continues

Sales of newly built, single-family homes in April increased 10.9% to a 743,000 seasonally adjusted annual rate from a downwardly revised March number, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The pace of new home sales in April was up 3.3% compared to a year earlier.

Material Costs

May 22, 2025

NAHB Members Cite Impact of Tariff Uncertainty on Home Building

Tariff uncertainty from the Trump administration continues to impact home builders across the country, as builders prepare for potential price hikes and supply chain issues. NAHB members have been sharing the impact that these tariffs are having with media outlets across the United States.

View all

Latest Economic News

Economics

May 22, 2025

Existing Home Sales Fall in April

Despite the brief retreat in mortgage rates and increased supply, existing home sales dropped to 7-month low in April, according to the National Association of Realtors (NAR). This unexpected decline suggests buyers’ activity continues to be constrained by economic uncertainty and ongoing affordability challenges even with improved market conditions.

Economics

May 22, 2025

Income Growth Helps Mute Existing Affordability Constraints

Despite solid income gains and lower home prices, Americans still continue to face major housing affordability challenges, according to the latest data from the National Association of Home Builders (NAHB)/Wells Fargo Cost of Housing Index (CHI).

Economics

May 21, 2025

Gains for Multifamily Missing Middle over Last Year

The missing middle construction sector includes development of medium-density housing, such as townhouses, duplexes and other small multifamily properties.