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One-Third of American Renters Expected to Miss Their August Payment

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Renters across America are wading into unknown territory. With the lapse of the federal moratorium on evictions that expired July 31 and the end of the $600 per week boost to unemployment benefits, a recent survey reveals the breadth of financial uncertainty now plaguing Americans.


An estimated 27% of adults in the U.S. missed their rent or mortgage payment for July, according to a nationwide survey conducted by the U.S. Census Bureau weekly over the last three months. Among renters alone, just over one-third (34%) said during the waning days of July that they had little to no confidence that they could make their August rent payment, a stark measure of the ongoing economic devastation for households stretched to the brink by coronavirus pandemic.


The survey registers the deepest uncertainty across the South, where in some states, more than one-third of renters and homeowners said they missed their last rent or mortgage payment and would struggle to meet their obligations for August. In Texas, for example, 39% of renters said they weren’t certain they could pay their rent 


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Let's not forget 52 million suddenly unemployed.

And no health care in the middle of a pandemic. 

So... about 10 million houses are going to be handed back to the banks. 

And yet somehow, this tidal wave of losses and bankruptcies is not going to make any american banks insolvent? 


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Trump executive orders: when does $400 unemployment boost start?


"Issued on Saturday, Trump’s executive order on unemployment benefits seeks to give those out of work an extra $400 a week on top of their basic benefits, replacing the $600 weekly boost that was distributed as part of the CARES Act.

Known as the Federal Pandemic Unemployment Compensation scheme, this initiative expired at the end of July."

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