Experts believe an eviction crisis will hit the housing market as coronavirus protections begin to expire.
Even before the coronavirus pandemic hit, more than 2 million Americans faced eviction each year. The economic hardships caused by the pandemic has hit the rental sector hard.
The moratorium on evictions in federally assisted properties extends through July 25th. Soon following is the expiration of unemployment benefits, which, experts predict, is likely to set off an uptick in nationwide evictions in the months after.
This article talks about the toll that an eviction can have on individuals, families, and communities and the greater risks associated with an eviction in the middle of a global health crisis.
“If you are facing an eviction, Carr suggests contacting a nonprofit tenant organization in your area and your elected officials as soon as you can.
That said, the crisis requires a large-scale government response, according to experts. If state and local governments don’t step in to help soon, there will be a “tsunami of evictions and a spike in homelessness” nationwide, that will “devastate” not just individuals and their communities, but the economy broadly, Diane Yentel, president and CEO of the National Low Income Housing Coalition, says in a statement to CNBC Make It.”