Is the CDC's eviction moratorium keeping affordable rentals off the market?

Real estate and housing experts believe the Biden administration's decision to extend an eviction moratorium until Oct. 3 will have lasting impacts on the housing market.

After initially saying Congress would have to determine whether or not to extend the moratorium, on Wednesday Biden said that the Centers for Disease Control and Prevention would move ahead with a new eviction ban aimed at protecting tenants in counties with "substantial and high levels of community transmission" of COVID-19, despite significant legal concerns. 

While a coalition of realtor groups have already sued the Biden administration, experts argue that the moratorium will not only cause problems for realtors but for renters who are looking for affordable housing, as well.

"We've seen such a huge increase in rental prices because landlords are trying to be even more conservative and more cautious because they're losing their protection and their rights as landlords," real estate expert Nicole Espinosa, who helps homeowners facing foreclosure, told FOX Business.