Recent weakness has created some appealing entry opportunities, but we could see several more before this pandemic passes. The regulation preventing evictions has some significant benefits. Widespread evictions would create significant economic disruption and would encourage people to be moving precisely when they should be avoiding social areas. With the difficulty of bringing in new residents, most landlords would want to avoid evictions anyway. Consequently, we don’t believe temporary bans on evictions will have a huge impact on fundamentals.
Some renters may try to skip out on rent, but the big apartment REITs mostly