Home Forums Hunting & Shooting Hunter's Campfire 30% of Americans missed their housing payments in June

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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.)

“In the current climate, with unemployment at record levels and with many unable to pay rent for Covid-related reasons, neither housing court judges nor our lawyers will be able to resolve many of these disputes, resulting in evictions, displacement, homelessness, senseless exposure to infection and more difficulty in containing Covid-19,” writes The Right to Counsel NYC Coalition in a letter to Lawrence K. Marks, Chief Administrative Judge at the New York State Unified Court System.

To prevent a homelessness crisis, governors could extend, or put into place for the first time, universal eviction moratoriums for the duration of the coronavirus crisis, advocates argue. Not only would this help keep people in their homes, it would keep Covid-19 from spreading even more in the U.S., where at least 118,000 people have died from the disease.

On the federal level, the House’s Emergency Rental Assistance and Rental Market Stabilization Act would allocate $100 billion for emergency rental assistance, which would help tenants around the country pay their rent and utility bills. The HEROES Act, which was passed by the House in May but has so far stalled in the Senate, includes an extension of the nationwide moratorium on eviction filings, hearings and executions for 12 months.

These are needed responses to a coming crisis, Solomon Greene, a senior fellow in housing policy at the Urban Institute, previously told CNBC Make It.

“Housing instability has huge health consequences even when we’re not facing a pandemic,” says Greene. “Exposure risk is so much more amplified and worsened when you can’t shelter in place because you don’t have a place to shelter.”

Some of the mortgage payments were deferred without penalties, once that option goes away we will get a clearer picture. My guess is we are in for a interesting fall.

I quit making mortgage payments back in 2011. Nobody said a thing about it. No, that's not true, actually- - - - -the criminals at Bank of America who had bought my loan from Countrywide kept asking me to borrow more money- - - -"No thanks- - - -it's paid off now, and you'll never get another penny of my money!"

That’s the business that they’re in and that “invite “ is all too often taken by the homeowner.

Please stop being anti-semitic.

Divorce and job loss, yup i still have a mortgage.
Paid ahead and extra too.
Jeep is old and falling apart.
Pay cash for another beater whenever the time comes.
Bankers aint your friend

Some folks just have bad luck.
Others are idiots w their money....knew covid was coming and blew it on vacations and new vehicles, phones and other......


Be it stimulus, company profit sharing or paid time off

Seen it over and over, in towns w strong factory presence.
Democrats never learn

If I miss my rent and the landlord misses his payment can his bank evict me? Or can the guy who buys it as a repo evict me?
Funny they haven't iffered any moratorium on property tax

Sadly there will be a new class of homeless-- those who are not experienced professional homeless

Haven't made a mortgage payment since March 6 this year, but it was the last one we owed. Saw the potential covid mess coming and decided not to spend money on a new car, a vacation, new phone & etc. Different priorities than some folks, I guess.

I don't believe that B.S.. We have 8 renters and none missed a payment. Two friends have property management companies and said they're not experiencing anything close to that %. I don't believe 1/4 of what's being reported by the MSM.

No kidding. Around here the state charges us thousands of $ for rent every year for generations after the mortgage is paid off OR if you build it yourself .
I asked them why they declared their own jobs "essential" while the rest of us are forced to lose our jobs, but still pay your wages???

Congratulations Otter!
That must be a burden off of your shoulders.

I just had to pay half of my annual property tax. They said my home went up another $60,000 in value last year and taxed me for it. My mortgage is paid off but I'll never really own it thanks to taxes.

Bb

Damn, I wondered a lot how this kung fu [Get Trump] flu BS would effect folk in debt, especially those living paycheck to paycheck.

I don't believe it either.

I think those numbers come from business reporting.

I don’t really buy the info. I talked to my buddy that the president of a large bank here. He said they’ve actually had less delinquent notes the last couple of months compared to average. We decided it was due to those that lost their jobs getting a decent unemployment, or a raise when they went on it, and the stimulus checks. Now that’s going to fall off and run out before long and that will tell the tale.

I didn't make a mortgage payment in May or June because I made the final payment in April.

This is the biggest problem is people think it's not their fault for not having money stashed away for when [bleep] hits the fan most of them are also rioters as well it's ashame how people are raised now a days

Bet most of them have $500 plus phones.