Close to half of all U.S. apartment renters may be evicted in the coming months, now that eviction moratoriums are fading in most places, as the commercial real estate market adjusts to fewer unemployment benefits to pay the bills and political dynamics change nationwide.
As a measure of the pain that landlords will suffer, especially those depending on rent to pay their own expenses, global advisory firm Stout Risius Ross estimates a $21.5B shortfall in rental payments over the same period. More than 40% of U.S. renter households are at risk of eviction, Stout estimates, or about 17.3 million households.
Of that total, it estimates that there will be 11.6 million eviction filings over the last four months of 2020. The federal eviction moratorium has now expired, though the 30-day notice requirement written into the law will hold off most filings until after Aug. 24.
Click here to read the rest of the article written by Dees Stribling over at Bis Now
