America’s small landlords as well as their renters are on the verge of a new housing abyss as the last of the nation's safety nets are slated to expire, reports Reuters' Michelle Conlin.
The day after Christmas, the extended unemployment benefits that have kept 12 million people and their families afloat are scheduled to expire. Then, mere days after that cliff, on New Year’s Day, a national ban on renter evictions from the Centers for Disease Control and Prevention is also set to lapse.
Overnight, an unprecedented bill of $70 billion in unpaid back rent and utilities will come due, according to estimates by Moody’s Analytics Chief Economist Mark Zandi. In all, up to 40 million people could be threatened with eviction over the coming months, research from the Aspen Institute says.
