Researchers believe a crisis could be on the horizon as many unemployed or laid-off individuals have not been able to make ends meet during the COVID-19 pandemic. Experts say we may see homelessness and evictions that are equivalent if not worse than the 2007 housing crisis.
The Furman Center for Real Estate and Urban Policy at New York University supports that assertion.
“We did an early analysis of who worked in the types of industries that are likely to be affected and shut down by the virus, and disproportionately those workers were workers of color, and disproportionately they rent their homes,” said Ingrid Gould Ellen of the center. “The crisis has particularly devastated renters, both because they’re more likely to work in those vulnerable occupations but also because they’re also less likely to have savings to fall back on than homeowners.”
According to Yahoo News, In Houston, a $15 million rental assistance program filled up in just 90 minutes. Just use your imagination many how many people have been out of work, laid off, and have not been even able to find work.
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Victor J Morrow