Missed Rent Payments May Balloon as Boosted Aid Expires, Holding Potential for Deep Scars in the Rental Market

As 32 million Americans received unemployment benefits in late June, more renters were late on their July payments than any other time during the coronavirus pandemic. Boosted government aid has expired, meaning those numbers are likely to rise even further in coming months. Those missed rent payments could cause a wave of housing insecurity and have the potential for deep impacts not only for renters, but also for rental owners who owe common costs of property ownership and other workers in the industry.