By The Financial District
Jun 18, 20211 min
More than 4 million people say they fear being evicted or foreclosed upon in the coming months, just as two studies released Wednesday found that the nation’s housing availability and affordability crisis is expected to worsen significantly following the pandemic, Ken Sweet and Michael Casey reported for the Associated Press (AP).
The studies come as a federal eviction moratorium is set to expire at the end of the month. The moratorium has kept many tenants owing back rent. Making matters worse, the tens of billions of dollars in federal emergency rental assistance that was supposed to solve the problem has not reached most tenants.
The housing crisis, the studies found, risks widening the gap between Black, Latino and white households, as well as putting homeownership out of the reach of lower-income Americans.
The reports were released on the same day as Census Bureau’s biweekly Household Pulse Survey came out. It showed that nearly 4.2 million people nationwide report that it is likely or somewhat likely they will be evicted or foreclosed upon in the next two months.
Many of those tenants are waiting to see what becomes of the Centers for Disease Control and Prevention eviction moratorium, which is set to expire June 30. Housing advocates are pressuring President Joe Biden’s administration to extend it.
They argue extending it would give states the time to distribute more than $45 billion in rental assistance and protect vulnerable communities from COVID-19. The rental assistance has been slow to reach tenants.