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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.

Here is where I find these numbers a bit misleading. It doesn't say which states, or mortgage sizes.

The vast majority of people live well beyond their means. I see it all too often with young, new Airmen that come in and instantly get a high car payment, insurance to match and interest out the wazoo. People paying a majority of their paychecks to car note and rent, and then complain they don’t make enough, instead of living with what they can afford.

I didn't.

And, all but 2 tenants are keeping up with new flex-payment option I put in place back in March.

And, those 2 tenants were problematic pre-corona.

Credit is good for the responsible and an enslaving trap for the rest.

Winner winner. I'd have been debt free 20 years ago if not for evil #2.

That's VERY true. The bank will 'qualify' them for a mortgage loan. Just because you CAN borrow that much doesn't mean you SHOULD borrow that much. A maximum mortgage will leave them running on the edge for the next 30 years.
OTOH, in many areas housing costs are skyrocketing and buyers don't have much choice. Even tiny, old houses are selling for what a big new one sold for a few years ago. Young people these days are getting into serious debt.

Paid 2 off since the 1st of March.

Im with you on that. Im in the industrial and warehousing business and we arent seeing many problems with rents. Retail landlords will be the hardest hit in my opinion. But they will work out deferments or even abatements for tenants as it costs a lot more than a two or three months rent to be vacant and lease out the vacant spaces. With laws in place that keep landlords from evicting and banks from foreclosing people will take advantage. I get 1st ,last and security deposits for my clients so some that miss a month will agree to have that last month apply to a missed month and then make up the last month over some time.

Exactly it amazes me how many people live paycheck-to-paycheck , refinance to stretch their mortgage out as long as possible every few years, never get ahead they have the same balance for 20 years on their mortgage, have no Savings in case something happens like this, go on cruises two times a year , buy a new car every two years, but they don't have spare pennies saved for anything. I paid my mortgage off last year 9 years early saving about $20,000 in intrest. Working on retirement investments now.

Ya I missed my house payment too. Since 1996 that is.

You never own your house. If you think you do stop paying taxes on it and see how long you own it.

We have 2 properties owner financed[same person], she missed April & May but has since caught up 1 of the 4 missed payments and has post dated checks to us making up the other 3 over the next couple of months.

Not house rent, but storage for our camper as we can't keep it here. Talked with the guy who owns the storage place, thinking he might have a ton of issues with people not paying their rent. He said it was unusual, but he had better collections than normal.

Or land, it really sucks but is true

Which begs the question that if politicians feel they can legislate a moratorium on renters and homeowners paying their rent or mortgage, why don't they legislate a moratorium on property tax? Or income tax, or sales tax, etc.?

I don’t necessarily believe the numbers that missed a mortgage payment.
But is see so many people living well beyond their means, fancy new cars, $1000 I phones, eating at high end restaurants,etc. I dont have the least bit of sympathy for them.
But I suspect that those that properly managed their finances, will get stuck with the tab.

Common sense tells me that a percentage of our savings, retirement accounts and investments will be taxed - stolen before 2024. Only those who have a little $aved will be required to bail out the freeloaders and deadbeats. If you're not making the rules your gonna get screwed.

Klaus Schwab, Dan Crenshaws and Telsi Gabbards puppetmaster of Davos and World Economic Forum.

Don't know for sure, but I suspect the now generations has no understanding of a rainy day fund.

Have friends that replace the old with new as soon as the original is paid off.

Had major surgery March 2020. Went 4 months without a paycheck. Salary reduction of 75% when I was able to return to work. Have yet to miss a payment on the farm, or anything else.

Yes, we had a rainy day fund. However, made a conscious choice to sell a bunch of stuff to minimize draw down on the rainy day fund. Vehicle fleet averages 13 years old with 150K miles. But, everything starts, stops and drives. We will survive...

Smart man.

My vehicle has 217K, no AC and has rust.
I figure I can get another yr or two out of it 😂

My niece is in the banking training industry. She is training tons of new bankers/vultures for the upcoming bubble burst in housing.
Naturally default always exists, but this stuff is encouraged for the eventual bust.

most likely fake news

I dont buy it either. Record unemployment? In the middle of a labor shortage? Horse petunias. Someones trying go build a case for more free crap more dependence on gov handout, more control. 30% seems like way too high.

It would probably help if you looked at the dates of a post before you reply.

Lost me at "unless the government intervenes".

You can't buy a boat or UTV cause everyone borrowed and bought them all. People making what I make are buying land and building bigger houses than I'd be willing to heat and cool.

Had a neighbor take out a huge mortgage to demolish a decent house that was given to them, build a huge one, and buy new cars. He lives in a small rental now.

Yeah, I think they're missing payments.

It's gonna get a lot worse.

Thank a COVTARD.

All part of the Democrat's (Obama's) plan.

I have one that has maybe paid 5 months of rent in 9 years . do not rent to my kid. it dos not pay. made the pay off on mortgage last month.

Not to worry. City governments are now building miniature homes for squatters and homeless to live in free...Placing these fine dwellings, inhabited by law abiding citizens in upper middle class neighborhoods, is the new normal. 🤦🏽‍♂️🙄

Neighborhoods are stoked after hearing a village of trash makers will be arriving soon.

#PropertyValuesTank

#Winning


👊🏽🦫

You can’t even buy a trailer and truck and live on the road without paying taxes on it every year. We sure do live in a free country, yes, sir.

How come the homeless did not all die, OP says sheltering in place saves lives...

LLCs are gonna swoop in and buy massive amounts of residential real estate.

Make home ownership a thing of the past and they got a nice big chunk of Americana out of the way.

Thank a COVTARD.

Get your shots.

Everything's fine.

Too damn many of them to thank individually.

😡

Not really. Beathe, Aim, Squeeze. Each gets a very personal and impactful thank you. If we all pitch in and help, I am sure they could all be properly thanked.

The numbers are about 8 million behind on rent, as the the rent moratorium expires in different states there will be a lot of evictions. 1.6 million home owners are behind on payments, those will be forced sells and foreclosures. It takes a while for this stuff to work through the courts, but it will happen in the next few months. Different states have different rules and dates. But there is two years worth of foreclosures and evictions coming. The largest effected area's are large urban liberal chitholes.

Are you fully vaccinated?

That might be your experience, but remember that it's a big country. We rent out our cottage in Hawaii to a nice lady who works as a substitute teacher and cleans houses. With no in person school for much of the pandemic, she didn't get any work there and people were scared to have people in their houses with covid around, particularly since most of the people who hired her were elderly or infirm. As a result she got a bit behind on the rent, but keeps us informed and does her level best to get caught up. She's accessed rental relief programs there to help make ends meet.

Hawaii's economy has taken a huge hit over the last two years. Tourism was way down for most of that time and that's a huge part of the economy there. There's a lot of poverty where our cottage is located (East side of the Big Island) and lots of foreclosures.

A good friend of mine owns and/or manages about 700 properties here in town. Most lower income type stuff. He says the % is the same as it was before covid and is not seeing what is reported by the media.

He says he is noticing a ton of his tenants went out and bought new to them vehicles this past year.

He was running a application on a lady the other day and she made 60k this past year driving for uber.

Not being able to pay or refusing to pay?

Some folks are just banking what they should have paid and building up for a move when finally kicked out.

Others just figure they can buy fun stuff and party til booted.

Both gaming the system.

This^^^^^^^^^^^^especially with certain groups.

MM

I’m not sure it is a large portion of the population, but a non-neglible number of people are wired that way. Get the stimulus, the employment kicker, stop paying rent.

You’d have pretty darn good cash flow for as long as it lasted.....

meanwhile every friggen business has a help wanted sign. instead of sitting home and watching kardashian tv, they need to go down and pull a shift at the 7/11. you could make 3-400 a week just working in the evening. 2 jobs was how i paid the bills when my ass was hanging out. sucks, but it is what it is.

Are the same people calculating the 30% that are counting the rona cases? And the unvaxed percentages of the total? And the nunber of vaxed americans? Dont believe any of it. Go to work pay your bills fork the jab!

There isn't much in the "news" these days that isn't total BS or full blown propaganda.