Housing advocates protest on the eviction moratorium in New York in August. | Brittainy Newman/AP Photo
08/30/2021 12:22 PM EDT
Updated: 08/30/2021 05:22 PM EDT
About 750,000 renter households will likely lose their homes this year after the Supreme Court blocked the federal eviction moratorium, according to Goldman Sachs economists.
Analysts at the investment bank estimate that tenants owe between $12 billion and $17 billion to landlords as Covid-19 cases surge, with about 2.5 million to 3.5 million households behind on rent.
The findings that Goldman released late Sunday mark one of the first comprehensive estimates of what could happen in the absence of the eviction moratorium, which was stopped as state and local governments continued to experience bottlenecks in the delivery of $46.5 billion in federal rental assistance.
Given the slow pace of rental aid disbursement, Goldman's analysts expect that between 1 million and 2 million households will remain without support and at risk of eviction when the remaining state and local eviction bans expire at the end of September. The economists based their findings on rent delinquency data from real estate companies, the National Multifamily Housing Council and the U.S. Census Bureau.
“The strength of the housing and rental market suggests landlords will try to evict tenants who are delinquent on rent unless they obtain federal assistance,” the Goldman analysts said. “And evictions could be particularly...
Read Full Story: https://www.politico.com/news/2021/08/30/evictions-to-hit-750-000-households-goldman-says-507575
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