A third of U.S. renters expected to miss August payment

CityLab Daily
Bloomberg

Renters in peril: An estimated 27% of adults in the U.S. missed their rent or mortgage payments in July, and the outlook for August is just as bleak: One-third of renters said at the end of July that they had little or no confidence they could make their August payment, according to a Census Bureau survey. With the federal moratorium on evictions and the $600 weekly unemployment payments having ended, that finding paints a stark picture of a nation veering toward financial precarity, Kriston Capps reports. 

The level of uncertainty differs. For example, 31% of Black renters reported being unable to pay last month's rent, compared to 28% of Latino renters and 14% of white renters. Conditions in the South, meanwhile, seem especially perilous: Some 39% of renters in Texas and 43% in Oklahoma said they weren't certain they could make rent in August. The stimulus payments and eviction ban shielded millions from devastation, and these latest findings add urgency to the push to enact new protections. Today on CityLab: One-Third of American Renters Expected to Miss Their August Payment 

-Alex Wittenberg

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What we're reading

  • Covid-19 data reveal that urban density is not the enemy (New York Magazine)
  • The nation is facing a housing crisis. But private equity firms just see dollar signs. (Washington Post)
  • What a NIMBY victory in Plano means for the future of urban planning in Texas (D Magazine)
  • Distrust of the Minneapolis police, and also the effort to defund them (New York Times)
  • A state-by-state look at coronavirus in prisons (The Marshall Project)
 

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