Homeland Security says real estate is “essential business”

California and Washington have taken similar stance, but not New York

National /
Mar.March 31, 2020 09:46 AM
Christopher C. Krebs, director of the Homeland Security Department's Cybersecurity and Infrastructure Security Agency (Credit: Krebs by Tasos Katopodis/Getty Images; chart by CISA)

Christopher C. Krebs, director of the Homeland Security Department’s Cybersecurity and Infrastructure Security Agency (Credit: Krebs by Tasos Katopodis/Getty Images; chart by CISA)

As the real estate industry remains split on whether the services it provides are “essential” during a pandemic, one federal agency has weighed in with an emphatic “yes.”

Workers in both residential and commercial real estate, including settlement services and government workers who facilitate mortgage and real estate deals, were included in a “Essential Critical Infrastructure Workforce” advisory list released Saturday by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency, Inman reported.

“This list is intended to help State, local, tribal and territorial officials as they work to protect their communities while ensuring continuing of functions critical to public health and safety, as well as economic and national security,” the agency memorandum states. The list is advisory in nature and not a federal directive or standard.

Dozens of states, including California and Washington, have already designated real estate services as “essential.” New York has yet to do so, and Gov. Andrew Cuomo explicitly said real estate agents could not show homes.

Washington governor Jay Inslee wrote in a Friday memo that “significant legal liability and displacement (if not homelessness)” could occur if ongoing transactions were unable to close, especially for people transitioning between residences.

“For homeowners in distress related to the COVID-19 event, it is important that they have the option to sell their home or pursue a refinance or residential mortgage loan modification,” Inslee added. [Inman] — Kevin Sun


Related Articles

arrow_forward_ios
Hammerson CEO Rita-Rose Gagne and Brookfield's Bruce Flatt. (Hammerson, Brookfield, Getty)
Brookfield’s US malls are struggling. Now it’s buying some in Europe
Brookfield’s US malls are struggling. Now it’s buying some in Europe
(iStock)
Homebuilder sentiment ticks up in April
Homebuilder sentiment ticks up in April
Sao Carlos CFO Fabio Itikawa. (Getty, YouTube via Levante Investimentos)
In pandemic-battered Brazil, 3G Capital founders hunt for real estate deals
In pandemic-battered Brazil, 3G Capital founders hunt for real estate deals
Tesla’s Gigafactory (Tesla)
Over 340M sf of industrial space set for delivery in 2021
Over 340M sf of industrial space set for delivery in 2021
The Wonder Wheel in Coney Island (Getty)
Coney Island Wonder Wheel reopens
Coney Island Wonder Wheel reopens
Carl Heastie, Andrew Cuomo and Andrea Stewart-Cousins. (Getty)
NY close to approving $2.4B rent relief bill — but its rollout will be the real test
NY close to approving $2.4B rent relief bill — but its rollout will be the real test
(iStock)
LA office market has 51M sf of available space
LA office market has 51M sf of available space
The announcement makes Google one of several tech companies that will let workers return to the office sooner than later. (iStock, Google)
Google will bring some employees back to offices this month
Google will bring some employees back to offices this month
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...