Here are my thoughts:
- Biden’s initial response was correct; extending the moratorium isn’t the best solution to the problem. There is plenty of money available for tenants and landlords; the challenge is to get state and local governments to distribute it.
- Nevertheless, Biden’s hands were tied as soon as Pelosi came out strongly in favor of the extension. He owes her too much to ignore her.
- The new regulation is not a Trumpian attempt to defy a court order; it is a good faith effort to accomplish a legitimate public health objective, while acknowledging the limits put on his powers by the Supreme Court.
- In the end, the legal argument will probably fail, but no one can say he didn’t try, and he will have bought some time for a real solution.