What happens when 10 million tenants can’t make rent?

Source: Gianpaolo Baiocchi & H. Jacob Carlson, N.Y. Times opinion

Dire conditions for vulnerable tenants also mean financial distress for landlords. Things have been particularly difficult for “mom and pop” landlords, particularly those who operate in the affordable market.

We propose the creation of the Social Housing Development Authority, a federal agency that would purchase distressed real estate, ensure it is livable and environmentally sound, and finance its transfer to the so-called social housing sector, including tenant cooperatives, community land trusts, nonprofits or public housing.

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