by Jen Sidorova
The Daily Bell
Housing affordability was an issue long before the COVID-19 pandemic and the housing programs proposed by President-elect Joe Biden and Vice President-elect Kamala Harris during their campaign could change the ways Americans rent for the worse by pushing out small landlords and making rental housing more expensive.
Both Biden and Harris have expressed support for rent assistance in some form. Earlier this year, President-elect Biden proposed rent forgiveness and his running mate suggested banning evictions for 18 months due to the pandemic. Banning evictions could particularly devastate the 50 million unit American rental market, in which over half of landlords are small-time entrepreneurs. The problem is that if tenants do not pay their rent, then many property owners can’t afford to pay their mortgages.