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This thesis will be exploring the situation of one of the most vulnerable groups during the COVID-19 pandemic, low-income renters. As businesses and whole states were shutdown, jobs and wages were lost and the over 100 million renters in the United States, many of whom spend a significant chunk of

This thesis will be exploring the situation of one of the most vulnerable groups during the COVID-19 pandemic, low-income renters. As businesses and whole states were shutdown, jobs and wages were lost and the over 100 million renters in the United States, many of whom spend a significant chunk of their income on their rent, were forced into a precarious situation. <br/><br/>The Federal Rent Moratorium that is currently in effect bars any evictions for missed rent payments, but these are expenses that if left unpaid, are just continuously accruing. These large sums of rent payments are currently scheduled to be dropped on struggling individuals at the end of the recently extended date of June 30th, 2021. As these renters are unable to pay for their housing, landlords lose the revenue streams from their investment properties, and are in turn unable to cover the debt service on the financing they utilized to acquire the property. In turn, financial institutions can then face widespread defaults on these loans.<br/><br/>The rental property market is massive, as roughly 34% of the American population consist of renters. If left unaddressed, this situation has the potential to cause cataclysmal consequences on the economy, including mass homelessness and foreclosures of rental properties and complexes. Everyone, from the tenants to the bankers and beyond, are stakeholders in this dire situation and this paper will seek to explore the issues, desires, and potential solutions applicable to all parties involved. Beginning with the pre-pandemic outlook of the rental housing market, then examining the impact of the coronavirus and the resulting federal actions, to finally explore solutions that may prevent or mitigate this potential disaster.

ContributorsMorris, Michael H (Author) / Sadusky, Brian (Thesis director) / Licon, Wendell (Committee member) / Historical, Philosophical & Religious Studies (Contributor) / Historical, Philosophical & Religious Studies, Sch (Contributor) / Department of Finance (Contributor) / Barrett, The Honors College (Contributor)
Created2021-05