Remember that had the government not stepped in, many of these people would have been evicted as a matter of routine. The fact that there are so many of them being evicted at once is the result of government action.
Facing a staggering amount of back rent, hundreds of thousands of individuals and families may be put out of their homes this year as the eviction moratorium comes to an end, according to research from Goldman Sachs.
Following the Supreme Court’s decision last week to strike down the pandemic-era policy that kept renters in their homes despite being unable to pay, economists at the investment bank said on Monday that about 750,000 US households will ultimately be evicted later this year, barring action by Congress.
Crunching data from the Census Bureau and landlord trade groups, Goldman estimated that roughly 2.5 to 3.5 million American households are behind on rent, with landlords owed as much as $17 billion.
Delinquent renters appeared to be safe from eviction until at least October. However, the high court’s decision to lift the federal ban on evictions indicates that further action may need to be taken from Congress, which the justices cited as having ultimate authority on the matter.