Unemployment, Homelessness and Economic Uncertainty to Continue into 2021

As government-mandated rent deferrals and mortgage deferrals expire, tens of millions could face eviction early next year.

While many worry about violence after Election Day, a concern the recent riots in Philadelphia, New York, and Washington have done nothing to calm, there is another time bomb ticking that has nothing to do with the election: Unpaid rent.

While the media has been worrying about COVID-19 cases, they have neglected to talk about the problem affecting far more people: layoffs, furloughs, and unemployment.  The impact losing your job can have on people’s lives is hard to underestimate and in times of high unemployment rates can lead to  homelessness.  In the long run, the crumbling of our economy may do far more harm to the lives of the younger generations than catching the coronavirus, in part because a loss of income often leads to a loss of housing.  And being homeless can become a spiral that is difficult to climb out of.

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