The U.S. election played against the dark milieu of the devastating COVID-19 pandemic, a stricken economy, and a host of racial and immigration issues. As the 46th president of the United States takes office, it remains to be seen how he will shape the housing market in the country.
However, long before the elections, as the pandemic battered the economy, the housing agenda of the next presidential administration was largely put in place. The new government’s immediate concern was going to be addressing peoples’ anxieties about paying rents and mortgages.
As Joe Biden takes over as President, the housing challenges predominantly ignored by President Donald Trump are bound to be at the center. The first few issues to focus upon is that there are a lot of people who have lost their jobs, don’t have income, and who are going to have a lot of trouble paying rent and the mortgage. Another is addressing the issue of forbearance and foreclosure proceedings that were put on hold due to the pandemic.
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