*As the end of the nationwide eviction ban looms, some panicked Californians scrambling to pay rent or quit, have just hit the lottery. What’s coming is only the biggest rent-relief program Americans have ever seen. But that’s not all that’s in the works. State Senate Democrats want to pay 45 percent towards the purchase of new homes for first time buyers too…
Though an extension on the eviction ban is in talks, Covid-19 protections will still lift eventually. Fortunately, California’s (low income) residents who must pay (pandemic related) back-rent or else can look forward to 100 percent relief, as a huge “back-rent” payoff is scheduled.
“This is certainly the largest rent relief there’s ever been,” said Russ Heimerich, a spokesman for the California Business, Consumer Services and Housing Agency, as reported by MSN News.
Heimerich told the New York Times this would be the most generous rental assistance program in the country. He was speaking of money California officials will use to relieve residents of having to pay back-rent debts left over from Covid related income losses.
The 5.2 billion, allocated for back rents, is a part of Gov. Gavin Newsom’s $100 billion economic recovery plan. Which comprises the state’s unexpected $75 Billion budget surplus and $26 billion from president Joe Biden’s stimulus plan.
“5.2 Billion should be more than enough to cover all the unpaid rent in the state,” said Jason Elliott senior counselor to California Gov. Gavin Newsom – on housing and homelessness, as reported by MSN News.
The relief program, in its final negotiations includes a proposal to pay off electricity and utility bills too.
And for Californians, that’s not all that’s interesting to hear. There are other housing supports in the works. If all goes like the state’s Senate Democrats’ plan — the program wants to pay-and-own up to 45 percent of new homes for first time buyers. The proposed relief cuts home purchase prices down by 55 percent for new timers.
It’s true that California state officials are looking to extend the nationwide eviction ban. And with 100 percent pay offs California is at least one state with the biggest relief breaks. Other states like Georgia and Oregon have limits to the amount they will clear for their residents.
New York extended its eviction ban through August, but since some courts have ruled [the extension] unconstitutional holding out too much longer may not happen.
Still, Gov. Newson recently told Univision he definitely wants to extend the ban for Californians.
As for the other housing proposals officials of the state’s Senate Democrats said:
“The first step to reaching the California dream of thriving in the middle class and building family wealth starts with home-ownership.”