Posted on 06/22/2020 4:50:29 PM PDT by Enlightened1
As the United States continues to face record unemployment due to the coronavirus pandemic, 30% of Americans missed their housing payments in June, according to a survey by Apartment List, an online rental platform.
That’s up from 24% who missed their payment just two months earlier in April and about on par with the 31% who missed payments in May. Renters, younger and lower-income households and urban dwellers were the groups most likely to miss their housing payments, Apartment List found.
At the same time that this “historically high” rate of Americans are missing their housing payments, eviction protections put in place at the beginning of Covid-19′s spread in the U.S. are beginning to expire. Additionally, the current 30 million unemployed Americans will lose the extra $600 per week in federal unemployment benefits at the end of July.
Taken together, experts warn of a coming housing “apocalypse” unless the government intervenes. Some 37% of renters and 26% of homeowners are at least somewhat worried that they will face eviction or foreclosure in the next six months, Apartment List reports. Columbia University researchers estimate that homelessness could increase by between 40% and 45% this year over where it was in January 2019.
Some legal experts expect “at least” 50,000 eviction filings in New York City alone when the state’s blanket eviction moratorium lifts June 20, most for nonpayment of rent. (A more restricted eviction ban is in place in the state until August 20.)
(Excerpt) Read more at cnbc.com ...
Just another reason for ANTIFA/BLM to riot & burn.
“free housing for everyone”...
With unemployment, the Fed $600 payment and stimulus, how could this happen?
Mmm Hmmm.
14.5 K
That’s when I will buy back into this scam of a market.
Meanwhile, there are HELP WANTED signs everywhere
Barracks at your local people’s farm or factory will be available.
No need for that capitalist private property or homeownership in the liberal mind. Except for the top of the heap people.
I say BULL! Survey done by ApartmentList??? LOL!
I am sure Equifax and other credit reporting agencies will cut them all some slack. /sarc
At least they don’t have a bad cold...
Doing what?
Would people make less while having to actually work vs. unemployment payments?
We’ve had 94% of our apartment tenants pay all their rent. The remaining 6% have paid partial amounts. Out of our commercial tenants, we have 1 tenant not pay and 1 partial pay (out of 8 total tenants). So far, better than we expected (knock on wood).
What State?
This is a very bad problem not only for the country, but for the President. If we remember during the Depression, there were also communist inspired riots...many of these riots were with the auto industry IIRC.
People losing housing is not a good thing. There are people that worked their lives in the outdoor entertainment industry for example—not essential workers, far from it...but they worked, whether as the hot dog guy at the ball park to a carney setting up rides, to another guy stringing mic cords for sound at a concert venue...all of that is shut down.
I have heard some say all these millions of people need to get a job delivering...delivering what, I don’t know. But one needs an automobile, with insurance and money for fuel and well...you know.. So for some, that is out...
Are we to be compassionate to those that might loose their housing through no real fault of their own....? Of course. The Landlord...are they not also to be allowed to have income from their property? Of course.
This whole thing is a big bugaboo. Thank the Lord we have our home paid off. We too are out of work and scrambling to sell products online to those that are allowed to work.
I don’t know what the answer is. I hope the administration has some solutions because losing housing and struggling for food will eventually forment revolution, like we aren’t there already. Our nation is not built of strong character like it was years past...so the future looks shaky indeed.
People will make more than $600 a week if they work hard.
the best government “intervention” is to end the real intervention; get them back to work. end the lockdown nationwide.
And guess how long it’ll take to catch up? This also could include car payments and credit card payments as well.
Curious...what part of the country are you in. 94% is pretty good on a full employment month here!
I personally believe we’re about to tumble off the cliff.
I’ve been accused of being a “debbie downer” before here, but with all that is happening simultaneously, I can’t picture it.
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