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Americans Unsure on Making Rent

This is a syndicated repost courtesy of Statista | Infographics. To view original, click here. Reposted with permission.

Eviction moratoriums in several large cities and states began during the beginning of the coronavirus pandemic, with a national moratorium stopping and then restarting through the fall. With a rising wave of COVID-19 sweeping through the country at nearly 200,000 new cases a day, businesses are closing again and tens of millions of workers are still without a job. A new federal survey shows roughly a third of U.S. renters have little or no confidence in being able to afford next month’s rent.

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In the “Household Pulse Survey” conducted by the U.S. government for the first week of November, 30 percent of respondents said they had slight or no confidence in being able to make rent by December. Just 47 percent had a high level of confidence, while 1 percent said they had already deferred next month’s payment.

The weekly survey has been ongoing since the summer, and those having little confidence in affording rent has remained relatively steady throughout the year.

The U.S. is facing an unprecedented eviction crisis if Congress is unable to pass a new stimulus relief bill soon. Many landlords are also hurting for income and won’t hesitate to take legal action against tenants unable to pay rent after the mandated moratorium is lifted. One study from Colorado shows that over 20 million people are at risk of eviction if federal intervention isn’t passed soon.

This chart shows the percentage of U.S. adults who have the following confidence level in their ability to make next month’s rent payment.

american confidence rent payment

Wall Street Examiner Disclosure: Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. No endorsement of such content is either expressed or implied by posting the content. All items published here are matters of information and opinion, and are neither intended as, nor should you construe it as, individual investment advice. Do your own due diligence when considering the offerings of information providers, or considering any investment.

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