Is a massive eviction wave imminent?

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via Zerohedge:

The Federal Housing Administration (FHA) was able to stop evictions of renters during the coronavirus pandemic. The Coronavirus Aid, Relief, and Economic Security Act (CARES) also made it unlawful for landlords to evict tenants in federally subsidized or federally backed housing. However, those protections are set to expire today (Friday, July 24).

Washington D.C.-based think tank Urban Institute estimates the eviction moratorium, expiring today, could put more than 12.3 million renters at risk of losing their home.

This protection can help stabilize renters during an economically precarious time, but it doesn’t cover everyone. We estimate that eviction moratoria covering federally financed properties will apply to roughly 12.3 million (28 percent) of the 43.8 million US rental units. – Urban Institute wrote

 

What this means is that landlords will begin filing eviction paperwork for tenants who haven’t paid rent for 30 days, and or, as we’ve noted, some folks haven’t paid rent in months. While it’s customary renters get 30 days’ notice, an eviction wave is ahead.

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