Covid-19 is having an enormous impact on the housing market. On the one hand on the construction sector and on the other hand on the tenants, homeowners, lenders and borrowers. Governments reacted quickly to the pandemic with various measures.
Moratoria on evictions as well as rent and mortgage payment forbearance have been widespread. Emergency shelters have also been provided to the homeless people, often by local governments and NGOs. Many countries have frozen rents and/or modified landlord-tenant relationships by allowing for automatic contract extensions or renewals. Tax authorities have also introduced payment deferrals or relief measures for mortgage-holders. More public investment in housing and in the renovation of the energy-inefficient housing stock are very important stimuli for the residential construction sector.
The OECD offers on its website a great, detailed analysis of the measures taken by governments to mitigate the effects of the pandemic and, above all, to save people from homelessness. Read more here
