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No, ending NY’s eviction moratorium won’t lead to a homeless tsunami

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Millions of New York tenants are at risk of losing their homes — or so warn activist groups regarding the impending demise of the Empire State’s eviction moratorium. This, despite the $2 billion in aid Washington sent our way to make sure that exact thing doesn’t happen. The money, housing advocates insist, won’t prevent a mass-eviction crisis unless lawmakers extend the moratorium.

This is unfounded hysteria.

There is no doubt that there will be hardship cases in the aftermath of the COVID-19 lockdowns. But predictions from the likes of Housing for All of “total chaos” and a wave of evictions aren’t likely to come true.

That’s because tenant advocates fundamentally misunderstand how the landlord business really works. Property owners are likely to evict only as a last resort. The reason is basic: An owner can’t be sure of finding a replacement. For owners who rely on rental income to maintain their buildings and pay their own bills — think here of the hundreds of thousands of mom-and-pop landlords — a vacant unit is their biggest fear.

And the housing market’s........

© New York Post

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