The recent stimulus will help millions of renters.
The additional stimulus payments will bring their typical rent burdens from more than 80% of their income to less than half of that percentage, according to a Zillow analysis. But even with this help, millions of people are behind on their rent payments and face an incredible challenge catching up.
At least three million renters who were employed last March lost their jobs and were still out of work in November, according to Zillow. More than a million of those people are in the accommodation and food services industries, which have been devastated by restrictions aimed at limiting the spread of COVID-19
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
