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Economy
Census Bureau: 3.8 million renters likely to be evicted in next two months – why rental crisis is getting worse
2022-08-30
[RealProperty] Census Bureau: 3.8 million renters likely to be evicted in next two months — why rental crisis is getting worse

For the first time ever, the median rent in the US surpassed $2,000 a month in June — and the increases don’t seem to be stopping.

Those rising rents mean households totaling 8.5 million people were in arrears on their rents at the end of August, according to Census Bureau figures. And 3.8 million of those tenants say they are fairly or very likely to be evicted in the next two months.

The combination of rising inflation, the end of most eviction moratoriums and rent subsidy payments, and an extremely low vacancy rate has pushed rents up — and many tenants are leaving.

Also read: Rents in Toronto are likely to rise another 15% over the next six months, experts say
And per MSM this week, utility bills in arrears are soaring
Posted by:Besoeker

#11  #9, the landlords are affected too. Unlike the universities, which should be - but are not - getting claw back pressure over the debt cancelations.
Posted by: M. Murcek    2022-08-30 18:35  

#10  That will make it interesting for the folks trying to make the US a nation of renters rather than homeowners.
Posted by: ruprecht   2022-08-30 18:25  

#9  The unspoken aspect of this is tha tthe debt for past dues rent will remain once the moratorium is removed. So in addition to eviction, the rent constitutes a personal debt, inducing 4 million bankruptcy filings unless the Democrats create a way to erase that debt as well. Think about the rough numbers, 4 million times 2000/month times 24 months = $192 billion potentially, and perhaps twice that or more overall.
Posted by: NoMoreBS   2022-08-30 13:44  

#8  Yeah, but who's going to pay rent for those illegal aliens. Oh, that's right. We will.
Posted by: Abu Uluque   2022-08-30 13:38  

#7  Supply and demand. Gotta make room for the 5 million illegal aliens imported in the past 18 months.
Posted by: Snash Shairt9621   2022-08-30 13:07  

#6  Census Bureau: 3.8 million renters likely to be evicted in next two months

Hmmm. What happens in a bit over two months that this 'crisis' can be used to collect more supporters for?
Posted by: Mullah Richard   2022-08-30 12:59  

#5  Why should we believe the census bureau?
Posted by: Airandee   2022-08-30 11:54  

#4  Everyone knows shelter from the elements is a basic human right.

Stand in her shadow.

Posted by: Skidmark   2022-08-30 08:03  

#3  I also blame basic greed by many landlords (not all, just many)

Posted by: Seeking Cure For Ignorance   2022-08-30 08:02  

#2  The combination of rising inflation, the end of most eviction moratoriums and rent subsidy payments, and an extremely low vacancy rate has pushed rents up — and many tenants are leaving.

Inflation, moratoriums and subsidies - three factors created by government. Screw with the market and then feign surprise at the consequences.
Posted by: Procopius2k   2022-08-30 07:43  

#1  Federal occupancy standards must be established for single family dwellings. Everyone knows shelter from the elements is a basic human right.
Posted by: Besoeker   2022-08-30 05:42  

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