As the US still faces the coronavirus pandemic and millions are unemployed, the multifamily industry is "cautious on collections" in the upcoming months as only a "minimal" amount of extra unemployment benefits are planned, according to a report from Yardi Matrix.
"Collections have yet to decline a material amount, but if unemployed Americans are left without additional stimulus in the coming months, we could see a different story play out in the fall and winter months," according to the report.
The August report says rents nationally dipped by 0.3 percent in the year-over-year basis, but the document notes that doesn't mean every place across the country is doing equally as bad.
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Ryan Tarinelli
Ryan Tarinelli is a reporter at the New York Law Journal. He is based at the New York State Capitol in Albany, New York. He can be reached through email at [email protected]. Follow him on Twitter: @ryantarinelli.
