In the coming weeks, large banks will be issuing their quarterly reports, which will give us another look at what we already know – the coronavirus pandemic and record unemployment numbers have many families and businesses unable to pay.
TheStreet recently interviewed Lavar Edmonds, research specialist with Eviction Lab at Princeton University, who has been tracking evictions before and during the pandemic.
Shutdowns nationwide have put millions of people out of work and nearly out of their homes, but local, state, and federal efforts have been made to keep people in their current living arrangements with moratoriums on evictions and foreclosures as we navigate the pandemic. Unfortunately, they don’t catch everyone and there are many many people who are struggling.
“Lastly, this also says nothing of those who do manage to keep their housing, but have to make sacrifices elsewhere to maintain rent payments. From Washington D.C. to San Francisco, we’re seeing reports of dramatic increases in food bank need. So, you may still have your housing, but, to sustain that, you may now be starving. Truly, the severity of this crisis is far-reaching.”