Chip Somodevilla/Getty Images New research from the Federal Reserve Bank of Philadelphia shows that had every unemployed American received the extra $600 per week in unemployment insurance payments, on top of stimulus, then just 125,000 households would be behind on their rental payments by December. This research comes as millions of Americans could face eviction when the national moratorium implemented by the US Centers for Disease Control and Prevention expires at the end of 2020. Even as stimulus negotiations have continued to stall, House Speaker Nancy Pelosi hasn't completely dismissed the possibility of collaboration between Democrats and the White House. Visit Business Insider's homepage for more stories. Researchers at the Federal Reserve Bank of Philadelphia wrote in a new study that had every unemployed American received the extra $600 per week in unemployment insurance payments from the CARES Act, on top of the Economic Impact Payments that the researchers refer to as stimulus, then just 125,000 households would be behind on their rental payments by December.The study estimates that nearly 1.34 million households, or 4.2% of all renter households, are going to owe $7.2 billion in rent by December.
Comment on America's massive unpaid rent problem could have been avoided if every unemployed person received federal UI benefits and $1,200
esully@businessinsider.com (Evan Sully), Business Insider
Sat, 10/24/2020 - 6:46am
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