40 MILLION Americans could soon be homeless (TMU)

Experts warn that up to 40 million Americans could spend their final months with a roof over their heads before landlords start serving eviction notices.

Elias Marat

(TMU) - As the United States continues to battle the surge in coronavirus-related infections with varying degrees of local lockdown measures, relief measures from the first stimulus package have dried up while federal and state moratoriums on evictions are quickly suppressed.

And as tens of millions of people remain jobless and continue to stay at home to avoid exposure to COVID-19, experts warn that up to 40 million Americans could spend their final months with a roof over their heads. over their heads before landlords started serving eviction notices.

To make matters worse, the humanitarian catastrophe could have "catastrophic" effects on the entire housing market, with repercussions that would extend far beyond the housing and rental sector throughout the country. economy - leading to a decrease in demand, a collapse in housing values ​​and a general economic crisis that could be unprecedented in the history of the United States.

Emily Benfer is the committee chair of the American Bar Association's Eviction Task Force and co-creator of the COVID-19 Housing Policy Scorecard with the Department of Eviction at Princeton University . Addressing CNBC, she warned that up to 40 million people face the imminent risk of eviction and homelessness in the coming months - around four times as many people as those who have been displaced by the crisis. 2008 seizures.

"The United States is facing the most serious housing crisis in history", said M^me Hell. "Countless lives will be negatively altered solely because they could not endure the extraordinary circumstances of the pandemic and economic recession."

These numbers should terrify all of us. Tea #evictioncrisis has reached every corner of the US threatening all of our livelihood while Congress kicks the can. Americans need a home. Request #rentreliefnow. Senate switchboard: (202) 224-3121 https://t.co/HDIwILoEaS pic.twitter.com/DcXzPolI1X

— Emily A. Benfer (@emilyabenfer) July 31, 2020

The massive scale of the crisis affecting American society defies explanation, as well as easy answer.

This data shows us that all the terms people use to describe what's coming - "cliff", "tsunami", "avalanche", etc. - might actually be an understatement“said John Pollock, eviction expert and housing rights advocate for the National Coalition for a Civil Right to Counsel.

"The only reason we haven't seen two million deportation requests yet is because all of the CARES Act aids are either on the way or gone.“, he added, noting that the end of the extension of unemployment benefits, eviction moratoriums and other protections which are expiring threatens to deepen the disaster.

But renters aren't the only ones at risk of being left behind by the eviction crisis. Landlords are also expected to default on their mortgages if tenants are forced out of their homes in the midst of the crisis.

From Michael Hudson's blog on the elites' plan to buy up the country: https://t.co/oDUHUPeuHq pic.twitter.com/GDoElAzhxh

—Chris Hedges (@ChrisLynnHedges) August 2, 2020

"It could be catastrophic, and it goes beyond the rental industry"said Tendayi Kapfidze, chief economist of LendingTree, to CNBC stated, "This could actually affect the individual housing market and the economy as a whole.."

And because Congress faces a partisan stalemate over extending unemployment insurance to more than 30 million unemployed workers, Americans are seeing their already plummeting incomes drop from 50% to a meager 25% from their pre-level. -pandemic.

Along with the disappearance of jobs, income and government aid, Americans are increasingly forced to skip meals, go to bed hungry or seek food assistance for the first time in their lives. The defenders fear that unless Congress takes urgent action on this front, food insecurity could reach levels not seen in the modern era.

"Since COVID-19, thousands and thousands of people have mobilized, continue to fight, to stand up, to demand change“, tweeted Pollock Monday afternoon. “These heroes and helpers represent the best of America. Unlike members of Congress who want to send 30 to 40 million Americans into precariousness, poverty and hunger."

"Food insecurity for US households...reached its highest reported level since the Census Bureau started tracking the data in May with almost 30 million Americans reporting that they'd not had enough to eat at some point in the seven days through July 21"https://t.co/K3DJ30wj65

—Peter Joseph (@ZeitgeistFilm) August 2, 2020

The cascading crisis threatens to hit other industries as well, perhaps creating a feedback loop that can only deepen economic woes for businesses and households across American society.

"This could lead to lower home values, even in the homeownership market, and in every state and city there is a patchwork of different kinds of laws that people use.“, Mr. Kapfidze said.So, really, it is necessary that we have a federal plan. We need a federal plan to deal with this rent crisis or it will get worse".

source: Themindunleashed.com

Further information :