Breaking with a practice that’s been in place since 1988, the Joint Center for Housing Studies (JCHS) decided to postpone the traditional June release of its annual State of the Nation’s Housing report.
“As the impact of the virus on society, the economy, and the housing market grows by the day it has become abundantly clear that it will be months before we have a clear sense of the state of our nation’s housing,” stated Chris Herbert, managing director at JCHS.
Concurrent with the announcement to postpone the release of its report, Herbert revealed the creation of a COVID-19 Housing Resources page on its website. The information includes:
- Government resources
- Eviction & mortgage relief
- JCHS COVID-19 research
- Harvard resources
- Additional resources from a broad range of organizations
Noting “housing is a foundational element of every person’s well-being,” JCHS also intends to use its blog to discuss the impacts of the pandemic on residential real estate and which households and segments of the industry are most vulnerable and most in need of support.
Market-watchers say housing is often thought of as a leading indicator of economic activity. Nearly one-fifth of U.S. gross domestic product is rooted in housing-related expenditures, “making it critical to the well-being of our broader economy,” the JCHS emphasized.
Given the disruption and uncertainty around the coronavirus pandemic, Herbert believes a “strong and well-crafted policy response is needed to ensure that people remain housed and the industries that provide housing remain viable.” The Center will do all it can “to provide the information and insights needed to inform the critical work ahead,” he added.