Pelosi's $3 Trillion Coronavirus Relief Bill Includes $175 Billion in Homeowner, Renter Assistance, and Blanket Ban on Evictions

Democrats' HEROES Act is mostly about messaging. And it sends all the wrong messages on housing.


Democrats' massive 1,900-page, $3 trillion coronavirus relief bill unveiled Tuesday includes a number of far-reaching policies designed to keep people in their homes during COVID-19.

The so-called Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act boosts spending on existing federal housing programs, creates two new ones to provide direct assistance to homeowners and renters, and protects those who can't (or won't) pay their bills with nationwide moratoriums on evictions and foreclosures.

These policies are all in line with what low-income housing advocates and liberal Democrats have been saying is necessary to prevent a full-on housing crisis during the current pandemic, although it falls short of incorporating more radical calls for rent and mortgage cancellation.

Free market housing wonks are balking at both the breadth of the bill and its price tag, arguing more temporary, targeted relief would do a better job of preserving the housing market during the current economic downturn.

Past relief bills' provisions of "cash assistance directly to renters is why we haven't faced the kind of crisis that we've feared," says Michael Hendrix of the Manhattan Institute, noting that the number of tenants still paying at least some of their rent is only slightly below where it was at this point last year.

The HEROES Act, he tells Reason, "doesn't build on what we know works from the prior coronavirus relief bills but instead heads into a completely new direction that doubles down on inflexible government support."

That includes the bill's blanket nationwide bans on evictions and foreclosures, which is a major expansion of Coronavirus Aid, Relief, and Economic Security (CARES) Act's tenant and homeowner protections.

That bill, passed in late March, only suspended evictions for 120 days, and only for tenants receiving government housing aid, or living at properties that had a federally-backed mortgage. According to the Congressional Research Service, that covered only about 28 percent of renters. That bill also banned foreclosures of residential properties with federally-backed mortgages for 120 days.

The HEROES Act would extend these protections for a full year. The eviction moratorium would apply to all tenants. The foreclosure moratorium would cover all one- to four-unit residential properties.

"My worry is that it doesn't give flexibility to property owners," says Hendrix of the HEROES Act's expansion of eviction moratorium. "By no means are they all large corporations. Many of them are small property owners or homeowners themselves renting out a basement apartment. This is another regulation they'll have to navigate."

The biggest piece of new housing spending in Democrats' HEROES Act is a $100 billion in emergency assistance to renters, a policy Rep. Maxine Waters (D–Calif.) and Sen. Sherrod Brown (D–Ohio) had introduced earlier in the week.

That money would be funneled through the Department of Housing and Urban Development's (HUD) existing Emergency Solutions Grant program to states and local governments, who would then distribute it to renters directly, or through partnerships with other entities like public housing agencies.

Households making up to 120 percent of an area's median income would be eligible for this aid, although at least 70 percent of it would have to be spent on households making less than 50 percent of area median income. (That's about $56,000 for a family of four in New York City or $41,000 in Atlanta.)

Emily Hamilton, a researcher at George Mason University's Mercatus Center, said earlier this week—in response to Democrats' initial unveiling of their $100 billion renters assistance proposal—that providing direct assistance to tenants was justified during the current pandemic, but that it should be targeted at the lowest income people making 30 percent of area median income.

Instead, the HEROES Act has the potential to spend a lot of money on middle-income renters. Its homeowner assistance is even less well-targeted.

The new $75 billion Homeowners Assistance Fund created by the bill would only have to spend 60 percent of its funding on people earning less than 80 percent of area median income. This fund would be run by the U.S. Treasury Department, which would distribute funding to state financing agencies. These financing agencies would then be responsible for passing on relief to homeowners.

This assistance would be in addition to the $1,200 cash payments individuals would be receiving under the HEROES Act. The bill would also increase spending for existing programs covering rural housing, public housing, and housing vouchers.

It's unlikely that House Democrats' legislation will be enacted as is anytime soon. Senate Majority Leader Mitch McConnell (R–Ky.) has said now is too soon for another coronavirus relief bill.

That makes much of the HEROES Act, including its housing provisions, more of a messaging bill than a realistic policy proposal. Even so, Democrats missed a real opportunity to send a more constructive message, says Hendrix, about the overburdensome regulations on new construction that made housing costs unaffordable even before the crisis.

"There's nothing in the Democrats' bill that screams yes in my backyard," he says, referring to the pro-development YIMBY movement that's been trying to loosen zoning regulations in America's most expensive cities.

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  1. This should be re-titled “The One Year Paid Vacation Bill.” Then, in one year when the unemployment rate is still 20%, it can become the “Five year Paid Vacation Bill.” Eventually it will be the “Free Ride For Life for Registered Democrats Bill” (until Chinese Communists take over the world.)

    1. Idiots like you assume on the one hand that Communism sucks, and on the other hand assume Communism will win. Just like Ronny Raygun, who loved telling the world how evil Communism was but didn’t believe it, otherwise he would have freed the US economy and let the USSR sink on its own. Instead, he tripled the national debt for a defense program he knew wouldn’t work and took credit for spending the USSR into oblivion.

      Socialism on every hand only succeeds when it has access to other people’s money. It fails everywhere without that.

      Socialism on this CARES and HEROES scale may well sink the US. But without a capitalist US to leech off, Communist China can not take over the world.

      1. //But without a capitalist US to leech off, Communist China can not take over the world.//

        So, more business relations with China it is then ….

        1. As usual, you are thinking of what governments should do. Trade is a personal matter between individuals and companies. Governments should just butt out, unilaterally. Central planning sucks. It is inefficient, it makes a mess, and all libertarians are allegedly in agreement over that, until along come statist clowns yapping about tariffs are not taxes, managed trade is better than free trade, and so on.

          Let the damned socialists manage their trade inefficiently! Meanwhile, if we had true free trade, no tariffs, no subsidies, no quotas, no industrial policy, any of that obstructionism, our economy would run rings around theirs. Let them leech of us. It hurts them more than it helps them.

          1. //Meanwhile, if we had true free trade, no tariffs, no subsidies, no quotas, no industrial policy, any of that obstructionism, our economy would run rings around theirs.//

            Because Chinese companies subsidized by the CCP are just getting trounced in the global market place at present, and would completely cease to exist if only the United States had no government.

            //Meanwhile, if we had true free trade//

            And unicorns …

          2. “As usual, you are thinking of what governments should do. Trade is a personal matter between individuals and companies. Governments should just butt out, unilaterally. ”

            Will he notice the first and last sentence…

            1. Do people genuinely believe they have any chance of “freely trading” on their own, as individuals, with international Chinese mercantilists neck deep in the CCP hierarchy?

              Like, if only they were free of all government restraints domestically, China and its economy will just collapse magically under their own weight, organically.

              You have to be really delusional to believe this.

              1. I mean, it might be true if we were free of all government restraints domestically but since that is a literal impossibility I suppose we’ll just have to live over here in reality.

                I mean, one of the biggest competitive advantages China seems to enjoy is dirt-cheap peasant labor and a complete disregard for environmental concerns.

                Not Going to See the US Do This Any Time Soon

                I mean, if America tried that project it would be tied up for easily a century in red tape alone. China just says ‘fuck the people’ and plans to flood an area that makes any American works project look like a laugh in the park. A project of that size is quite capable of altering local weather patterns, with effects we really can’t even begin to model.

                1. The money shot from the probably-terribly-inaccurate Wikipedia page?

                  Two hazards are uniquely identified with the dam.[85] One is that sedimentation projections are not agreed upon, and the other is that the dam sits on a seismic fault.

                  Hahaha, nothing to see here folks!

                  1. I’m sure it’s fine…

      2. Between Quisling politicians and cower in place sheep, capitalism in U.S. could be destroyed and commie warlords spread their influence over the world. If no one has the guns or guts to stop the commies, then they can as easily keep the sheep in line as they do in NORK or CommieChina. Reagan didn’t roll over and cower before the Soviet Union. Do you think Warren or Pelosi will stand up to the Chinese?

        1. Katherina Loran Make money online from home extra cash more than $18k to $21k. Start getting paid every month Thousands Dollars online. I have received $26K in this month by just working online from home in my part time.every person easily do this job by just open this link and follow details on this page to get started… Read More Details

      3. The person who constantly wants us to ignore chinas bad economic trade actions is the one claiming he is the one who doesnt think china will win. Lol.

      4. Nonsense on stilts, alphabetguy. You must be a child because no one who lived through the Cold War could ever write or think what you have.

        Ignore or distort history at your peril. Why not try N Korea if you imagine communism is fun,

  2. Anybody know a good junk silver dealer? Randomly thinking it might be fun to take up a hobby in precious metal coinage…

  3. It’s the “pretend there are no consequences to outlawing all commerce and production of goods” act.

    1. Funding Unlimited Coranavirus Kickbacks for Enrolled Democrats Act.

  4. This pandemic is amazing. I never would have predicted any such stupid panic reaction to just another virus, considering how little everyone overreacted with previous ones. But there was that idiot Maine governor who quarantined the single nurse, IIRC. Maybe that should have been a warning that politicians were sniffing out a new crisis to blow out of all proportion. Maybe Trump freaked them all out so much they were desperate after that weak tea impeachment.

    I used to laugh at their ridiculous Green New Deal and its impossible goals and ridiculous spending; I used to laugh at Bernie wanting to triple the federal budget. And now the GOP just rolls over and plays dead while Pelosi almost single-handedly spends $6T and counting while locking down and destroying the economy which will have to pay for all that crap eventually.

    1. You are still right to laugh; Sanders and the Green New Deal were always fringe. If Emperor Orange hadn’t normalized the word “trillion” with his infrastructure proposals I doubt people would be so accepting of it right now.

      1. Orange man bad strikes again!

  5. //Even so, Democrats missed a real opportunity to send a more constructive message, says Hendrix, about the overburdensome regulations on new construction that made housing costs unaffordable even before the crisis.//

    In what universe would Democrats ever send a message like that? Their heads would collectively implode and ooze like a clump of lanced hemorrhoids ….

  6. This needs to be vetoed. No more aid for this. The reason why governors are getting away with having “ten year plans to some day maybe re-open the economy” is because too many people are on the dole enjoying a staycation and don’t care. Well, we can’t have a civilization by cowering in our homes praising the “brave first responders”. We have to go out and work for it. Cut this shit off. Let people start feeling the pinch and the tolerance for this bullshit at the state level will end real quickly. Otherwise, people will sit around on the dole until we run into real problems like the supply chain for food and such breaking down.

    1. //Otherwise, people will sit around on the dole until we run into real problems like the supply chain for food and such breaking down.//

      This was an easily foreseeable consequence therefore we must assume it was intended. Conditioning people to appreciate the comforts of government subservience in exchange for petty cash is the “opportunity” that the Democrats have been screaming about for years.

      1. I don’t give them quite that much credit. I think they are just stupid and don’t think anything bad can ever happen.

        1. Oh the unemployment bene’s were totally done on purpose John. They knew exactly what they were doing.

          1. And now you’ve got clowns like AOC calling for an idiotic “worker’s strike” instead of people going back to work until all of her demands are met, I guess. And a lot of people are happy to oblige since they’re getting more money on unemployment than they were making before all this shit.

            1. “The time to buy is when there’s blood in the streets.”

              1. Not there yet. Maybe soon, though.

    2. This was done on purpose. It’s over they’ve nuked the middle class. Between the required trace testing that’s coming and impossible business health compliance. They have wrought incredible damage.

      1. and impossible business health compliance

        No joke. My folks have a rental, and the new government rules are beyond stupid. Checkout is at 8am. The entire building must be fogged, then leave all the windows open for a half hour. After that every surface must be cleaned. Every wall, every piece of furniture, etc. It will take four people and a half a day to do the job. They won’t be able to rent single nights anymore because the cleaning costs an entire day’s worth of rent.

        1. And they have inspectors to make sure that this is done to spec by everyone?

          1. No those people are working from home because it’s not safe.

        2. My wife and I have considered rentals for awhile, but fear of stuff like this kept us away. Why take on all that work and risk for maybe a couple % more return than what you’d get in a good index fund?

      2. Like the old soviet hierarchy, the trajectory of any business from now on is going to be measured by how proficiently the owners submit to the whims of party leaders, and how well they serve the party.

        Granted, this was already, to some extent, the case. Regulations already turned many existing businesses into kowtowing loyalists that needed to learn how to play the game or else risk losing the myriad operational licenses they obtained in the first place by greasing palms and hiring local lobbyists to navigate the regulatory labyrinth.

        Counterintuitively, we will probably see a decrease in regulations overall since the authoritarians presiding over many of the country’s most populous, bluest cities no longer need to hide behind a library of arbitrary codes and rules.

        The illusion of due process is no longer needed. “Life or death” is the only rule that will matter moving forward. Grease a palm here, and your business is safe. Forget to grease a palm there, and your business is “literally killing people.” Challenge the designation in court? What court? “It’s an emergency; we don’t have time for contrarians.”

  7. No matter how terrible Trump is, these people should never be given Power. They would do all of this and more if they could. There’s no limiting principle if they believe in principles at all

    1. No one party should be given power. We have two Big Government parties and the GOP lies about it while Democrats are honest about it.

      1. Democrats are honest about it

        Lol, fuck no, shill.

      2. At least there’s something they’re honest about.

  8. Utter waste of $3 trillion and just because Nancy wanted to One-up The Dotard’s $2.7 trillion welfare handout?

    I know you Peanuts are still too stupid to understand this but we are all better off with gridlock (as I have said since the Bushpigs were in power) and we only get gridlock with a Dem POTUS and GOP House.

    1. At this point, even Soros has stopped feeding you talking points and decided you are not worth the trouble. You don’t even have any talking points to post. It would take a heart of stone not to find that funny.

      1. We need gridlock, you moron. I am sick of the “help” from both parties.

        You, on the other hand, are a rabid partisan GOP hack.

        1. You know the world is coming to the end when SPB stands out as being rational.

          1. Quit pretending that the two of you aren’t here solely to plump for team (D).

            1. Yeah, because any disagreement with Trump’s policies equals plumping for the Democrats. There’s no way I could be a libertarian who values economic liberty and freedom of movement. Nope, I must be a Democrat. You’re so smart.

              1. You are a Democrat you lying fuck, almost everything you post reads like it was transcribed from Schumer’s morning brief.
                You’re not fooling anyone.

              2. Well, to be fair, you reflexively call anyone that disagrees with Democrats a Trump dick sucker, which is strange for someone who purports to be a libertarian.

          2. There is nothing rational about him. He is a lying piece of shit. He doesn’t mean a word of what he says. He doesn’t want gridlock. He wants a Democratic President who will ignore the law and Congress the way Obama did.

            Did you fall on your head or something? What happened to you?

            1. I took his comment at face value, and I agree that gridlock is preferable.

              I do not consider you to be a hack.

              1. The idea of “gridlock” is delusional at this point. They pretend to argue about abortion and gun rights while we have no substantial discussion of the truly evil shit they do. Never ending wars, the prison industrial complex and having a complete stranglehold on fiscal policy by giving themselves the right to print unlimited amounts of money and gift it to whomever they please are issues that they are 100% in lock step together on.

                1. ^ This.

                  ‘Gridlock’ on social issues with little import, bipartisan agreement on ever-increasing spending to reward or punish as they see fit to the gradual ruin of the nation.

                  Wonder why no one has a ‘savings’ account, or why those who do are laughed at. Negative interest is already a thing, idiots.

                2. this paragraph is encompassing.

              2. “I took his comment at face value”








          3. You’re an idiot if you agree with SPB that John is a rabid partisan GOP hack – there’s no evidence whatsoever that John has rabies.

            1. That is a pretty good one Jerrry. Sometimes even the retarded kid gets a good shot. Bravo.

        2. With national emergency comes anti-gridlock. This is when the reliance on gridlock loses. This is the essence of never let a crisis go to waste.

  9. It’s now full on socialism for the Democrats the ruse is over the guise lifted and before you know it we’ll be just another shitty left wing communist trash heap. Resistance to the left is now the order of the day.

    1. But Trump’s $2.7 handout was not socialism.

      Got it.

      Another partisan hack.

      1. Trump’s $2.7 handout

        You mean the DNC controlled House’s giant bill, that he got called Hitler by your ilk for whittling it down to ‘only’ $2.7 trillion?

        You shouldn’t call others ‘shiteater’ when the poo stains are around your mouth, Buttplug.

      2. Where do spending otlriginate?

        Suddenly your “both sides” bullshit is shown to be the farce it was known to be.

        But hey you fooled sarc the drunk.

  10. Missed in this article – this bill also includes a $25B Post Office bailout, and more egregiously – $200B in “hazard pay” for essential public workers. This would be given to the states to distribute to municipal workers and heroic teachers who are currently at extreme risk, teaching in front of their webcams.

    Basically, it’s a bribe to municipal labor unions.

    1. They’re giving extra money to people who produce nothing of value while prohibiting the production of anything with value. That’s gonna end well…

    2. Holy fuck. These people are shameless. Robespierre please.

      1. Robespierre please.

        Personally, I would begrudgingly accept the fate of Robespierre if I could take the worst of the looters out first. However, I fear this is more likely to end with a call for collectivization in an effort to reignite production, the resulting starvation when that fails because the people that actually do the work revolt while the leeches stay at home, and then the inevitable purges.

  11. >>That money would be funneled through the Department of Housing and Urban Development

    indeed it will. unlikely in the manner described.

  12. I honestly can’t wait till the muni’s come around looking for property taxes from these commercial realestate companies. It’s going to be fucking epic. They’ve basically mandated noone can go to a fucking office or a need to pay rent for 3 months and are going to go around screaming fuck you pay me to real lawyered up moneyed interests.

  13. protects those who can’t (or won’t) pay their bills

    , including tax bills, right? RIGHT?!

    1. I think you may see some of these commercial real estate companies prorate property taxes and tell them to come and get it.

        1. I’ve talked to a couple of my customers who seem like they really really really want to do that on principle.

  14. I’ve got an idea! Let’s print a bunch of money and give it to people while outlawing the production of goods and services! That won’t cause any shortages or inflation or anything like that, because money is wealth! Woo hoo!

    “The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.”

    ― Thomas Sowell

    1. Weren’t you just on the morning links arguing for the lockdown? If you don’t want to re-open the economy and you also don’t want to put everyone on the dole, what do you want?

      1. Some people just want to watch the world burn.

      2. Weren’t you just on the morning links arguing for the lockdown?


        If you don’t want to re-open the economy and you also don’t want to put everyone on the dole, what do you want?

        I’d like to see our government follow Sweden’s example. Not that that will happen.

      3. Whatever the party tells him to want.

  15. The so-called Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act boosts spending on existing federal housing programs, creates two new ones to provide direct assistance to homeowners and renters, and protects those who can’t (or won’t) pay their bills with nationwide moratoriums on evictions and foreclosures.

    Stop. Am-Soc’s penis can only get so erect.

  16. Okay, given that this will never pass “as written,” assuming that the States don’t go for the “no evictions” part of this bill, under what premises does Pelosi and her shrieking herd think they have to authority to summarily declare null-and-void every rental contract in the US?

    Note: Pelosi is worth $16 million. Her husband is heavily invested in real estate. Perhaps that is why rental properties over 4 units are not subject to this? Most large apartment buildings are owned by wealthy investors and/or corporations. So people like me, with two rental houses, get screwed, while rich investors, like Pelosi, Feinstein (whose husband was once known as the biggest slum-lord in San Francisco), and others, get a free ride. Interesting. It better not pass. Ever.

    1. Note: Pelosi[‘s house] is worth $16 million.

    2. Government screws the little people. You know the screwing is going to be hard when they bait people with $1200 checks to ignore the rest of the spending.

      1. Yep. They are anti-revolution checks, plain and simple.

  17. Her end game is transparent, if the Republicans pass it the US is over this will be 1930 Germany. If they don’t pass it, which she is counting on, she blames them for all the troubles and slam them until November.

    1. Yet MSNBC and CNN will promote this at face value and fail to mention even a single potential downside of creating that much money out of thin air.

    2. It will be more like getting ahead of Great Depression II unlike the first time when it got so bad precisely because people with economic philosophies like yours had their stupid fists on policy for too many years.

      You can’t argue with the relative success of the US vs., say, Europe after the Bush Recession, and it’s because we did more socialism vs. austerity than they did.

      1. Hahaha! Did kindergarten just let out?

        1. He would have learned something more useful.

      2. How does producing more imaginary dollars that aren’t backed by actual production to give to well connected firms staving off Great Depression 2? Oh, I forgot they gave you a bribe of $1200 to make sure they’re able to say they didn’t just help wall street.

        The underlying economic problems are all being swept under rug and eventually they won’t be able to hide it anymore. This isn’t saving anyone. It is criminally negligent mismanagement by trying to pretend like scarcity doesn’t exist. I have zero interest in arguing like one party is more responsible than the other. They both give zero shits about the reality they’re creating as long as they get to keep their prestigious dream jobs.

        1. No matter what happens, they’ll always get to hide in the fortresses you bought them guarded by the men with guns that you pay for.

        2. Not giving a shit which party is more responsible kind of lets the responsible party off the hook, don’t you think?

          1. Yes. But the Donkeys have been the more irresponsible party, as demonstrated by the fascist Obamacare program amongst many others. FDR being the king of stupid.

  18. Her

  19. My wife and I sold the house we were renting out in CA last year.
    Smartest thing we ever did.

  20. With any kind of luck, Pelosi can export CA’s (government-caused) housing crisis to the other 56 states!

  21. …instead heads into a completely new direction that doubles down on inflexible government support.

    Central planning only works if the planned-for don’t get wiggle room. Also, central planning doesn’t work.

  22. Looking at the Diane Yentel tweet, their top three priorities are mentioned to cost $111.5 Billion.

  23. Let the tenants skip, but let the lenders foreclose on properties with more than 4 units. Sheesh.

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