"As part of the stimulus, the federal government has also issued a moratorium on evictions and granted mortgage forbearance to all federally backed loans (like those owned by Frannie and Freddy). This is similar to what the State of California did in 2008 and 2009 to help keep people in their homes during the housing crisis. Stuart Gabriel, Director of the UCLA Ziman Center for Real Estate, studied that policy during the recovery after the last crash. 'We found that this was a very appropriate policy and it worked very well,' he said. 'It mitigated the large-scale foreclosure that would overtake neighborhoods. It would result in severe downward movement in property value that would require further write down.'”
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03/29/2020
Propmodo: "Winners and Losers of COVID-19 Real Estate Moratoriums and Forbearance"
About UCLA Ziman Center for Real Estate
- UCLA Ziman Center is a multidisciplinary research center of UCLA Anderson School of Management and UCLA School of Law. We seek to advance thought leadership in the field of real estate by generating influential research, educating the next generation of leaders and providing meaningful forums for industry professionals and policy makers.
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