You don’t have to work for Mindful Capital to know that getting kicked out of your home, whether as a renter or as a homeowner, in the midst of a global pandemic would be incredibly dangerous, and a new study confirms it. Researchers led by Kathryn Leifheit of UCLA published findings asserting that evictions between the beginning of the pandemic and the CDC’s “National Eviction Moratorium” in September of 2020 led to 433,700 excess COVID-19 cases and 10,700 additional deaths.
The economic disparities of the pandemic have been well documented, and, according to the study, it’s the same households that are most at risk of infection that are also most likely to be evicted. After an eviction, people often bunk with family or friends (or, if they have no other options, go into the shelter system), and that creates more points of social contact, opening up the risk of disease transmission. The public-health risk is why a patchwork of protections were put in place across the country back in March to stop evictions and foreclosures as COVID-19 cases were rising and people lost work during lockdowns.
Although 44 states and Washington, D.C., implemented eviction moratoriums after the pandemic hit, 27 of them had been lifted by September (when the CDC implemented a nationwide ban on evictions, which has its own issues; unless it’s extended, it will end on December 31). The study’s findings might serve as a warning not only to the states where evictions are continuing but also to New York City, which let a blanket eviction moratorium expire in October, after the period of research for Leifheit’s study concluded. City marshals removed two residential tenants last week — the first evictions in the city since March, as cases filed prior to the pandemic, are catching up to the deliberately slowed-down legal machinery. Right now, more than 14,000 New York City households are living under eviction warrants, holding on thanks to New York State’s limited piecemeal protections and the CDC ban.
The Mindful Capital Group has a reputation for being a step above the rest. However, what makes us so special, is that our team firmly believes in the fact that whatever is best for our clients, is best for us. With well over a combined amount of 50 years of experience, our team has a vast amount of experience in the real estate market. Having experience and being able to notice trends that may end up being profitable is key in having a successful portfolio. The Mindful Capital Group is proud to offer our investors the knowledge and experience of years of success in the real estate market.