Michigan Real Estate News

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Eviction Moratorium Expiration Leaves Renters in a Lurch

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The federal eviction moratorium was scheduled to end on Saturday at midnight, leaving renters to face uncertain futures as they search for housing. Homeless shelters have been adding beds in anticipation. According to a Census Bureau survey, 3.6 million people think they will be evicted within the next two months. The moratorium protected struggling renters in public or private housing if they could prove they had lost income during the pandemic. The moratorium ends when only a small part of the Congress-approved rent assistance has been distributed.  Some states have eviction moratoriums that will extend past the federal one.

 

 

Affordable Housing Options Scarce in Michigan

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According to a report released by the National Low Income Housing Coalition, a two-bedroom apartment in Michigan is unaffordable for minimum wage renters…unless they work 77 hours a week. Affordable housing was an issue prior to the pandemic, and the economic upheaval has only made it worse. Lawmakers are doling out billions of dollars in emergency rent aid, but experts agree that this is only a short-term fix. Communities need more affordable housing options. With the eviction moratorium expiring, evictions are expected to increase, making it tougher still for displaced tenants to find a place to live. Governor Whitmer plans to use $100 million in federal COVID-19 relief dollars to create 2,000 new affordable rental homes, with funds going toward grants and loans for development, preservation of existing housing and security deposit assistance.

 

 

 

Southfield Homeowners Level Accusations of Exploitation

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Former homeowners are accusing Southfield and the Southfield Neighborhood Revitalization Initiative LLC of exploitation. They assert that the company made millions from tax-foreclosed homes over a three year period of time. The company made as much as $10 million from 138 properties after paying more than $2 million in back taxes to acquire the properties. The city has partnered with the company to take homes in the foreclosure process before they go to county auction. A class-action lawsuit in Detroit’s federal court accuses the company and the city of Southfield of taking equity away from former homeowners without reparations.