Analysts from Goldman Sachs predict a wave of evictions as eviction moratoriums end with millions of households still behind on rent.
An analysis from Goldman Sachs Group Inc. predicts roughly 750,000 evictions as eviction bans around the country come to an end, reports Patrick Clark. "Currently, as many as 3.5 million households are behind on rent, with landlords owed as much as $17 billion, the analysts estimated in an Aug. 29 note."
While Congress has authorized close to $47 billion in rental assistance, funds have been slow to reach tenants or landlords. "Meanwhile, shortages of for-sale and rental housing are freeing landlords to rapidly increase rents as properties become vacant."
While "[a] surge in evictions would create new inventory of available rental housing, partially offsetting rapidly rising housing costs," it could "also slow job growth and household consumption." Meanwhile, "the implications for public health and Covid-19 infections are probably more severe, the analysts wrote."
Read the full story: Goldman Sees 750,000 Evictions in U.S. as Bans Come to an End
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