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11 million US households could be evicted over the next 4 months says new eviction estimation tool


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11 million US households could be evicted over the next four months

https://www.fastcompany.com/90532305/11-million-households-could-be-evicted-over-the-next-four-months

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Every year, about 2.3 million American renter households receive eviction papers at some point. During the COVID-19 pandemic, we might see that many evictions in one month.

Global advisory firm Stout, with input from the National Coalition for a Civil Right to Counsel (NCCRC), used census survey results and income data to develop a new eviction estimation tool that estimates how many households could be at risk of eviction as moratoriums end, courts reopen, and rent relief efforts fall short. More than 16 million renter households are at risk of eviction..

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The tool, which will be updated with census survey data each week, is aimed at policy makers. Users can look at state-by-state or national data on estimated evictions, along with the amount of rent relief needed to possibly stabilize these households—currently, the national estimated rent shortfall totals $22 billion.

You can also filter survey results by ethnicity, which reveals a stark disparity. “This isn’t a small difference between renter confidence for white tenants versus Black and Latinx tenants.

It’s massive,” Pollock says. In the July 22 survey, about 47% of both Black and Latinx tenants said they have little to no confidence they can pay next month’s rent; for white tenants, it was about 20%. “You already have a disease that is decimating Black communities . 

 

Edited by Saving For a Space Ship
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Posted (edited)

I wonder what estimation tools are used for the Uk ?

Looking at the Uk situation ....

Private Renters Handed Eviction Notices During Lockdown Despite Ban

The government has vowed to "protect renters", but landlords have continued to dish out Section 21 notices.

https://www.huffingtonpost.co.uk/entry/private-tenants-section-21-evictions_uk_5f18b399c5b6296fbf3d0fe8?utm_hp_ref=uk-news

230,000 Uk renters may be evicted according to Shelter when Gov covid eviction ban is lifted in August

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They also discovered their landlord has benefited from a mortgage holiday – while at the same time ignoring their pleas for leniency.

 

Edited by Saving For a Space Ship
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Trump - Never Gonna Happen GIF by MikeyMo | Gfycat

It's the same  trite idea as Schrodinger's housing stock.

Their housing stock is both being sold to occupiers and not available to occupiers.

Similarly- tenants are simultaneously unable to pay and able to pay.

 

Tenants are landlords' lifeblood. Sure, they could kick out millions of them, but they will not find replacement tenants and will soon foreclose on the property. 

The tenants can then purchase the places at much lower prices.

Edited by Locke
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  • 419 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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