On Thursday August 26th, 2021 the supreme court blocked the CDC Eviction Moratorium that protected tenants who have not paid rent to their landlords from being evicted. The courts ruled that in order for the CDC to be able to dictate such an act, they would need clear approval from Congress to do so. “If a federally imposed eviction moratorium is to continue, Congress must specifically authorize it,” the court wrote in their statement.
What this means for us in Nevada may not be too affected by this because we already have Assembly Bill 486 in action which overruled the CDC Moratorium anyways. The immediate effect we may see is a rise in eviction filings by private owners since they may have not known about the assembly bill good until June 5th of 2023. The eviction process will still be a lengthy one but we should begin to see our rental market normalizing to a more favorable climate.
The current issue at hand with these paths to normalization is that of the $5 Billion in Federal funds allocated to these programs, only about 11% has made it to the states and many landlords have not received any type of compensation. Nevada has been granting many evictions as many tenants were unable to prove that they could not afford their rent payment.