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Missed Rent Payments Could Lead to Next Housing Crisis

Friday, Oct 30 2020
Commercial Lending
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Federal and local eviction bans are set to expire soon, and a large number of renters will struggle to foot the bill for months of missed payments, with potentially calamitous implications. So reports The Wall Street Journal.

Moody’s Analytics projects that 12.8 million Americans would owe an average of $5,400 in missed payments by year-end if there is no further economic stimulus.

By comparison, 3.8 million homeowners suffered foreclosure from 2007 to 2010, amid the most recent housing crisis.

Read the full article from The Wall Street Journal. 

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