Rent debt could reach $70B by year’s end: Moody’s

Thousands of renters could be evicted from their homes in the next few months, leading to a housing crisis that could have major ripple effects on the economy. A recent study by the Federal Reserve Bank of Philadelphia, which surveyed unemployed Americans, found that outstanding rent debt would climb to $7.2 billion before the end of 2020, the Wall Street Journal reported. Meanwhile, Moody’s Analytics projects that the rent debt could reach close to $70

source https://therealdeal.com/2020/10/27/rent-debt-could-reach-70b-by-years-end-moodys/