For unprotected renters, the threat of eviction is very real – especially for those at the bottom of the economic ladder.
In the meantime, Anderson said she has not been able to collect unemployment insurance because of glitches in South Carolina's system. She has also failed to receive her stimulus check in spite of having applied.
Then came the Great Recession of 2007-2009, when millions of homeowners defaulted on their home loans and moved into rentals. Throw in baby boomers downsizing from homes to apartments and millennials too burdened by student loans to make a purchase, and soon there were too many renters chasing too few rental properties coast to coast.
According to the Eviction Lab, South Carolina has the highest eviction rate in the country. The city of Charleston alone evicts more people from their homes each month than some states. Andrew Rybczynski, managing consultant with Costar Group, a commercial real estate research and analytics firm based in Washington, D.C., thinks there will be a spike in evictions. But he says it might not be that large as some people think because a lot of renters are in good shape due to generous government pandemic aid -- the additional $600 in unemployment benefits and the $1,200 stimulus checks.
One thing that rental property analysts agree on, however, is that people at the lowest end of the economic spectrum – especially people of color – will suffer the most.
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