Where Will the Eviction Wave Hit? Follow the Big Landlords
Evictions that have been delayed in many parts of the U.S. are likely to proceed, now that the U.S. Supreme Court struck down the federal eviction moratorium on Aug. 26.
The court told the Biden administration, for the second time this summer, that only Congress can authorize a federal ban on evictions. Yet efforts by members of Congress to prevent evictions have also come to naught. Rental assistance has been slow to arrive: Despite a pressure campaign from the White House to get $46.5 billion in emergency rental assistance to tenants, state and local leaders had spent only about $5 billion by the end of July.
Now some 2 million renter households owe more than $15 billion in rent, according to the Federal Reserve Bank of Philadelphia, with other estimates putting the need even higher.
Perhaps the biggest winner amid all these setbacks for tenants? The biggest landlords.
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