–Tenants struggle to pay their rent in New York (© Gryffindor – Wikipedia)–
The health crisis has plunged many Americans into very difficult financial situations. And today, many New York households are struggling to pay their rent.
(BFM Immo) – The health crisis is beginning to weigh heavily on the real estate market in certain large American cities. The rise in unemployment is indeed causing difficulties for many households, who can no longer pay their rent. In New York, where two-thirds of residents are tenants, the largest rental market in the United States is in jeopardy with rising unemployment.
Thus, a quarter of tenants no longer pay their rent since last March in New York, according to figures from a local association of donors (the Community Housing Improvement Program, an association representing more than 4,000 owners for 400,000 housing units in New York) cited by Bloomberg. While some tenants are trying to negotiate an installment payment, others have simply stopped paying.
A figure that may still swell. As aid of an additional $ 600 per week for the unemployed is due to end in the United States at the end of July, new tenants are quickly at risk of not being able to pay their rent.
No eviction
At the same time, a new law in the State of New York currently prohibits the evictions of tenants in financial difficulty. A period that could last until the arrival of a vaccine. Many homeowners therefore find themselves in an embarrassment, being deprived of a source of income when they themselves often have to repay a loan.
This situation also has another consequence for tenants. For those who no longer pay their rent and cannot be evicted, their debt with unpaid rents increases month by month. This could affect their credit rating and their ability to find another homeowner or obtain attractive rates the day they want to buy a property.
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