An ‘Avalanche of Evictions’ Could Be Bearing Down on America’s Renters according to the article below. The economic downturn is shaping up to be particularly devastating for renters, according to the New York Times.
Nearly a quarter of respondents to a poll said they missed their last rent or mortgage payment or were not sure that they could pay on time next month. Without rental income, a property that once had positive cash flow becomes one that has negative cash flow, and becomes a burden to its owner.
The article acknowledges that many landlords say they are working with their tenants. This is often by force, due to state government requirements forbidding evictions and requiring landlords to waive late fees.
The following article also acknowledges that landlords have bills to pay too. When times are tough for landlords, that puts downward pressure on demand for real estate. Thus, some predict that real estate may head down in value after evictions and foreclosures are permitted again, at least for real estate that is not positive cash flow.