Or offer funds to help people pay their rents. Rather than sending funds directly to the land lords, while blocking evictions. Leaving tenants holding the bag on hefty amounts of back rents they may never be able to pay back. Ultimately resulting in impoverishment, debt, eviction and the like.
Admittedly I’m not up on exactly what level of this is dangling over the housing market. But assistance for regular folks on rent or mortgages basically boiled down to those handful of one off stimulus payments. While real estate businesses, including small land lords had access to various programs.
On the commercial end large number of landlords, especially the investy sorts took the opportunity to sell. Cashing out while prices are spiking, and invalidating leases with tenants. Putting small businesses out of business. That seems to have happened quite a bit in rental housing as well. I know that commercial utility bills are being converted to 10 year loans here on the understanding that impacted business could not survive the delayed bills coming due. In terms of restaurants, many probably won’t be able to handle the additional monthly payments once this is over.
There’s a serious problem looming as soon as these eviction moratoriums end, and anyone attempts to collect back rent. If we don’t offer support it’s going to be a disaster.
Meanwhile those smaller land lords had access to government funds. And practically speaking can sell easily, at a premium, right now to extract that income. I know people who’s homes have doubled in value in the last year, and I’ve watched commercial and rental properties go at similar rates.