To clarify, a bill signed by the President last spring (S. 896) already
provides key renter protections, including:
* 90-day pre-eviction notice to tenants whose homes have gone into
foreclosure.
* The rights of tenants to remain in their homes for the terms of
their leases. (However, if the new owner will live in the home, leases
can be terminated subject to the 90 day notice.)
* Tenants with vouchers able to remain with both their lease and
rental assistance payments intact, subject to the rights of a purchaser
who wants to occupy the home after 90 days notice.
Right to Rent would help homeowners, who are not covered by S. 896. For
more information, see http://www.cepr.net/index.php/r2r/
You can find Dean Baker's Congressional testimony on Right to Rent from
last week here:
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hshrg_04142010.shtml
Please let me know if you have any questions about R2R!
Thanks,
Nicole
> ------------------------------
> Date: Fri, 16 Apr 2010 17:25:03 -0400
> From: Joseph Catron <[email protected]>
> Subject: Re: [Pen-l] LETTER IS SENT TO NY TIMES RE "RIGHT TO RENT"
> To: Progressive Economics <[email protected]>
>
> On Fri, Apr 16, 2010 at 4:27 PM, Michael Meeropol <[email protected]>wrote:
>
> It cures two problems at once ---
>> 1) no one is kicked out of their homes
>>
>> 2) no empty homes to ruin neighborhoods and depress housing prices further.
>>
>
> It wouldn't do either of these things as broadly as you imply. Delinquent
> homeowners would be protected, but renters, who occupy something like half
> of foreclosed properties, would not. This exclusion is particularly odious
> as renters are typically much lower-income than owners and will, we may
> safely assume, face fewer options upon eviction.
>
--
Nicole Woo
Director of Domestic Policy
Center for Economic and Policy Research (CEPR)
1611 Connecticut Avenue NW, Suite 400
Washington, DC 20009
202.293.5380 x108
woo @ cepr.net
www.cepr.net
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