Graphic shows numbers of U.S. renters potentially facing eviction.
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BUSINESS

U.S. renters face evictions

By Duncan Mil

August 12, 2020 - U.S. renters and landlords face a dark winter with more than 11 million households – representing some 25 million people – at risk of eviction over the next four months, according to advisory firm Stout Risius Ross.

To put this into perspective, data from the Eviction Lab at Princeton University show that between 2000 and 2016 landlords filed 61 million eviction notices in the U.S. -- an average of 3.6 million evictions annually.

“You’d have to go back to the Great Depression to find the kind of numbers we’re looking at right now,” John Pollock, staff attorney at the Public Justice Center told Bloomberg News. “There’s almost no precedent for this, which is why it’s so scary.”

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) which included a $600-per-week boost to unemployment benefits, expired on July 31.

For tens of millions of renters, the situation is grim. A Census Bureau survey of 73 million households indicates that almost one third (32.5%) have “No or Slight confidence” in their ability to pay the August rent.

Black and Hispanic-Latino populations are the hardest hit. Of these, 33.9% of Hispanic renters reported low confidence, followed by white (32.4%) and black renters (24.7%).

On August 8, President Donald Trump signed an executive order to block evictions and foreclosures and authorised a new program to boost unemployment benefits by $400 a week instead of $600.

Some housing advocates argue that Trump’s action does not extend the federal eviction moratorium or provide emergency rental assistance.

About half of landlords across the country are small businesses or mom-and-pop operations. They are still responsible for their mortgages, taxes, insurance and payroll payments.

Sources
PUBLISHED: 12/08/2020; STORY: Graphic News; PICTURES: Associated Press
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