As coronavirus surges in July so does the number of missed housing payments.
32%, which is approximately ⅓ of households have not made their full July housing payment, which is an increase from both May and June.
July marks the 4th month in a row that a historically high percentage of homeowners and renters weren’t able to fully make their housing payment.
Eviction and foreclosure moratoriums put into effect by the CARES Act will be ending soon unless they are extended again.
“Rent and mortgage payments are typically the largest monthly expense for Americans: One in four tenant families pays more than half of its income for rent, a rate that’s even higher in cities like San Francisco and New York, according to Harvard’s Joint Center for Housing Studies.”