As COVID-19's economic fallout continues, a new survey has found that 32% of U.S. households have not made their July house payment yet. The survey was conducted by Apartment List, an online rental platform.
This is the fourth month in a row that a serious number of American households have been unable to make their house payment or rental payment in full and on time. 30% reported being unable to pay in full and on time in June...31% reported the same in May, and 26% in April.
The survey's organizers said, “The economic fallout from the pandemic does not appear on track for the quick V-shaped recovery that many had originally hoped for. Additionally, the continued COVID-19 recession has more Americans worried about foreclosures and evictions.
Renters are the most vulnerable. 36% of renters have missed their July housing payment, compared to 30% of homeowners.
As most households spent their one-time stimulus check long ago, and with the extra $600 per week in unemployment insurance runs out at the end of July...even more households will likely miss their rent or mortgage payments in upcoming months. See the survey here.
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