COVID-19 and Housing Policy: Insecurity and Opportunity
Thursday, April 29, 2021 at 12:00 pm PDT
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The COVID-19 pandemic has disrupted virtually every part of the U.S. economy in the past year, and wreaked havoc on people’s daily lives. Housing markets are no exception. CGU and Brookings Mountain West’s In Conversation with Brookings Senior Fellow Jenny Schuetz explores the impacts of the COVID-19 pandemic on housing markets in Los Angeles, Las Vegas, Riverside, and beyond.
Schuetz is a senior fellow at the Metropolitan Policy Program at Brookings Institution. She joins Claremont Graduate University President Len Jessup and Karen Danielsen, associate professor in UNLV’s Public Policy and Leadership department, to discuss the effectiveness of the federal government’s interventions in this area, what challenges remain, and what lessons can be drawn for future policies.
Housing insecurity was a widespread problem among low-income renters well before the COVID-19 pandemic. Today, households earning less than $30,000 per year are experiencing the highest rates of job loss and the slowest recovery. At the same time, low-income, Black, and Latino or Hispanic workers are being hit particularly hard. Millions of families have fallen behind on their rent, accumulating debts they cannot pay. While housing markets will likely experience an uneven recovery after the COVID-19 pandemic, lessons from the Great Recession can help policymakers determine supportive and equitable paths forward.
Schuetz is an affiliated scholar with the Future of the Middle Class initiative at the Brookings Institution. She is an expert in urban economics and housing policy with a focus on housing affordability. Schuetz has written extensively on land use regulation, housing prices, urban amenities, and neighborhood change. She has appeared in the New York Times, Wall Street Journal, Washington Post, Financial Times, The Economist, Vox, and Slate.