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Chris Arnold

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Updated August 26, 2021 at 10:29 PM ET

The U.S. Supreme Court has blocked the Biden administration's order extending the federal eviction moratorium to a large swath of the country, in a decision expected by both legal scholars and the White House.

The U.S. Supreme Court on Thursday agreed to partially lift a ban on evictions for renters in New York state, which was scheduled to expire at the end of the month.

In an unsigned order, with three dissents, the ruling justices agreed to pause parts of the eviction ban while a challenge works its way through the lower courts.

Landlords across much of the country can now evict tenants who have fallen behind on their rent. That's because a federal ban on evictions expired over the weekend.

"It's devastating," said Safiya Kitwana, a single mom with two teenagers living in DeKalb County, Ga., who lost her job during the pandemic. Like 7 million other Americans, Kitwana has fallen behind on rent.

Back around the start of the year, Michael Thurmond had a problem. He's the top elected official in DeKalb County, Ga. Congress had approved about $50 billion to help people catch up and pay rent to avoid eviction.

But Thurmond worried that his county wouldn't get enough money to help everybody.

"What do I say to the family who is the first in line after all the money has run out?" he asks.

Updated June 29, 2021 at 7:53 PM ET

The U.S. Supreme Court on Tuesday refused to lift a ban on evictions for tenants who have failed to pay all or some rent during the coronavirus pandemic.

By a 5-4 vote, the court left in place the nationwide moratorium on evictions issued by the Centers for Disease Control and Prevention. The Alabama Association of Realtors had challenged the moratorium.

Sen. Sherrod Brown wants answers from a corporate landlord after a report by an advocacy group found the firm has been filing for eviction much more often in predominantly Black neighborhoods during the pandemic.

"While evictions can have long-lasting, damaging effects on renters in normal times, they are especially troubling during a pandemic where safe, stable housing can literally mean the difference between life and death," Brown wrote in his letter to Don Mullen, a former Goldman Sachs partner and founder and CEO of Pretium Partners.

Mehran Mossaddad has spent much of the pandemic scared and lying awake at night. He's a single dad with an 10-year-old daughter living outside Atlanta.

"I get panic attacks not knowing what's in store for us," he says. "I have to take care of her."

Mossaddad drives Uber for a living, but when the pandemic hit, he stopped because he couldn't leave his daughter home alone. As a result, he has fallen more than $15,000 behind on his rent, and his landlord has filed an eviction case against him.

Katrina Chism was frightened and confused. She'd been renting the same house in Atlanta for three years. She's a single mom with a teenage son. But then she lost her customer service job during the coronavirus pandemic and fell a month behind on her rent.

"I remember going to the door and the sheriff standing there," Chism says. "It scared me because I didn't know why he was at my house."

The reason: Her landlord had filed an eviction case against her.

Naomi Osaka is walking away from the French Open after a standoff with the sport's top officials over her refusal to attend news events with reporters.

"Hey everyone, this isn't a situation I ever imagined or intended," Osaka wrote in an Instagram post. "I think now the best thing for the tournament, the other players and my well-being is that I withdraw so that everyone can get back to focusing on the tennis going on in Paris."

A shortage of homes for sale is sparking multiple offers and bidding wars, driving the median sales price of a home in the U.S. to an all-time high of $341,600.

Home prices are up 19.1 % from just a year ago, also a record for the biggest gain in a year.

Rebecca Ametrano and Dan Johnson are newlyweds thinking about having kids. So they wanted to buy their own house or a condo. But since January they've been getting outbid by other buyers.

"You imagine your life in this house, you put in an offer and then two days later it doesn't get accepted," Ametrano says. "For me, it's like very emotionally crushing."

A pioneering investor who ran Yale University's endowment, David Swensen, died this week at the age of 67 after a years-long battle with cancer. Swensen revolutionized the way many colleges invest, infusing some schools and nonprofits with vastly more resources to pay for things like financial aid for students and research.

Swensen was widely regarded by other investors as one of the greatest in the world. Case in point: He grew Yale's endowment from $1 billion in 1985 to $31 billion last year.

A federal judge has issued a sweeping ruling that would revoke a pandemic eviction moratorium put in place by the Centers for Disease Control and Prevention.

But the Justice Department is appealing on behalf of the CDC.

The case was brought by the Alabama Association of Realtors, which argued that the CDC doesn't have the power to tell landlords they can't evict people during a pandemic. The judge agreed.

It was a pretty brutal holiday season for Barbara Gaught in Billings, Montana. Back in December, just a week before Christmas, she got an eviction notice.

"It was at like six thirty at night that a sheriff came and taped a notice on the door," she says. "On a Friday night."

The Texas state court system is signaling that it will no longer enforce a federal order aimed at stopping evictions during the coronavirus pandemic. That could clear the way for landlords to push ahead with tens of thousands of eviction cases that have been on hold.

The timing could be particularly painful for many families, coming after Congress has approved billions of dollars to help people pay the rent they owe to avoid eviction but before the vast majority of renters have been able to receive any of that money.

Getting evicted can hurt you in a bunch of different ways. You don't have to tell that to 57-year-old Gregory Curry in Dothan, Ala.

"I'll be honest with you, I was petrified by this situation," Curry says. "What I've had to go through over this last year."

Curry fell behind on rent after the furniture store where he was a salesman shut down due to COVID-19. His landlord filed an eviction case against him over the summer.

With many Americans behind on their rent during the pandemic, the Centers for Disease Control and Prevention is extending an order aimed at preventing evictions through June.

"The COVID-19 pandemic has presented a historic threat to the nation's public health," says CDC Director Dr. Rochelle Walensky. "Keeping people in their homes and out of crowded or congregate settings — like homeless shelters — by preventing evictions is a key step in helping to stop the spread of COVID-19."

Many Americans are ready and eager to buy a home right now. But they're having trouble finding one.

Home sales edged down 6.6% in February compared with the previous month because there just aren't enough houses out there for people to buy.

That lack of supply is also driving up prices as bidding wars break out with multiple offers on many homes.

"The housing market is out of whack," says Lawrence Yun, chief economist at the National Association of Realtors. "There's a lot of demand, but the supply is not coming along."

The Centers for Disease Control and Prevention has taken a key step toward extending an order aimed at preventing evictions during the ongoing COVID-19 outbreak. The CDC order is currently set to expire in less than 2 weeks.

Housing advocates have warned for months that allowing this protection for renters to lapse would spark a tsunami of evictions, putting upward of 1 million people out of their homes.

Wells Fargo customers trying Wednesday to find out if their stimulus payments had arrived instead found their mobile app not working and online accounts not accessible. The bank said the outage is due to high volumes and won't affect the electronic deposit of the stimulus money.

"We apologize to our customers who may be experiencing issues with our online banking this morning," the bank said in a tweet. "This does not affect stimulus payments with a March 17 effective date which were credited to accounts today. Thanks for your patience. "

Nearly 10 million Americans are behind on their rent payments, according to the U.S. Census Bureau. And Stephanie Graves is seeing that play out first hand. She's a landlord in the Houston area and says tenants in most of her buildings are struggling.

"I have a small property in town," she says. "It's about 22 units and eight residents have not been able to pay over 6 months on and off." She says she might get a $100 partial payment on a $1,000 rent.

The Trump administration was all about loosening rules for businesses. But Gary Gensler, President Biden's nominee to head the Securities and Exchange Commission, has a very different mantra.

"When there are clear rules of the road and a cop on the beat to enforce them—our economy grows and our nation prospers," Gensler told members of the Senate Banking Committee.

The need for a tough cop on the beat during the pandemic is clear to Rohit Chopra - Biden's pick to head the Consumer Financial Protection Bureau.

Sheila Ambert lies awake at night wondering if her family is about to get tossed out on the street.

"As a mother, you feel like you failed your kids," Ambert says. "You don't want them having to go through that or even knowing about it, which they do."

GameStop stock has fallen back to earth. But the WallStreetBets group on Reddit helped launch it like a rocket — late in January, the shares spiked up 1,910% from earlier in the month. Some people in the group made money if they got out at the right time. A few became wealthy in a life-changing way.

So, has the power of social media changed the investing world? Is it possible to join an investing messaging board and strike it rich on the next hot stock pick?

Sadly, probably not.

The Trump administration is trying to push through a last-minute rule that could force banks to offer loans to gun-makers and oil exploration companies or to finance high-cost payday lenders.

For months, the warning was clear from economists, housing advocates and public health experts: Without more help from Congress, millions of Americans could be evicted, in the dead of winter, in the middle of a raging pandemic.

"I can't construct a darker scenario," Moody's Analytics chief economist Mark Zandi told NPR in November. "It's absolutely critical that lawmakers step up."

The pandemic rages on. More than 180,000 people tested positive for the coronavirus on Tuesday. States and cities are closing businesses. Nearly 800,000 people are applying for unemployment every week.

Despite all this, Congress has not passed an economic relief package since late April — and a set of vital relief measures helping millions of Americans avoid financial ruin and eviction are all set to expire this month.

With their savings running out, many Americans are being forced to use credit cards to pay for bills they can't afford — even their rent. Housing experts and economists say this is a blinking-red warning light that without more relief from Congress, the economy is headed for even more serious trouble.

There are fewer homes for sale in the U.S. today than ever recorded in data going back nearly 40 years. That's a big part of what's driving up home prices much faster than incomes, and making homeownership less affordable for more and more Americans.

"We are simply facing a housing shortage, a major housing shortage," says Lawrence Yun, the chief economist at the National Association of Realtors which tracks home sales. "We need to build more homes. Supply is critical in the current environment."

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