Looming evictions could be “the most severe housing crisis” in the nation’s history, researchers said. Between 30 and 40 million people in the U.S. could be at risk of eviction in the next several months, a recent report says.
As President Donald Trump calls for another federal eviction moratorium, a new report has shed light on just how many Americans are facing housing insecurity as a result of the coronavirus pandemic and the associated economic downturn.
As the novel coronavirus first began spreading across the country and prompting business shutdowns, many state and local lawmakers took swift action to enact eviction moratoriums to protect people who suddenly found themselves without a source of income to pay their bills.
“The vast majority of states lack protective eviction moratoriums and housing stabilization measures that could support renters facing rent hardship,” researchers wrote, citing work done by the Eviction Lab at Princeton University and health and housing law expert Emily Benfer. — Diane Swonk, chief economist at accounting firm Grant Thornton Previously, research showed that people of color are disproportionately at more risk of being evicted currently.
The tenuous situation facing renters is in sharp contrast with the current state of affairs for homeowners and home buyers. Also see: Americans’ household debt fell for the first time since 2014 — but that doesn’t mean people are paying off their loans
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