"Dark Winter" - Millions Of Americans Are Expected To Lose Their Homes

Source: https://www.zerohedge.com/personal-finance/dark-winter-millions-americans-expected-lose-their-homes
Published: Nov 27, 2020
Author: Tyler Durden
Post Date: 2020-11-27 23:46:48 by Horse
Views: 59

A dark covid winter is descending on the working-poor of America as millions of adults face eviction or foreclosure in the next few months. Bloomberg, citing a survey that was conducted on Nov. 9 by the U.S. Census Bureau, shows 5.8 million adults face eviction or foreclosure come Jan. 1. That accounts for 32.5% of the 17.8 million adults currently behind rent or mortgage payments.

Additionally, the expiration of eviction moratorium, mortgage forbearance programs, and suspension of student loan payments could compound the working poors' financial stresses, many of whom, about 21 million of them, are unemployed and receiving benefits from the government.

The survey points out at least half of households in Arkansas, Florida and Nevada are not current on rent and mortgage payments - equating to 750,000 could face an eviction come early 2021.

On a city by city basis, New York City, Houston, and Atlanta had the greatest threat of evictions come early next year.

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