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【Zillow】Despite New Aid, 3M+ U.S. Renters Facing COVID-19 Unemployment Bear Extreme Housing Cost Burdens

【Zillow】Despite New Aid, 3M+ U.S. Renters Facing COVID-19 Unemployment Bear Extreme Housing Cost Burdens

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  • Zillow estimates more than 3 million renters who were employed last March remained unemployed as of November, largely due to widespread layoffs in high-contact industries like hospitality and restaurants. 
  • Unemployed U.S. renters will typically spend 43% of unemployment insurance income on rent because of $300 weekly payments in the newly passed stimulus package, down from 81.2% with only state unemployment insurance. 
  • While still well above the 30% threshold for being considered rent burdened, the extra payments may help some of the millions of renters behind on their rent reduce the debt owed to their landlords before temporary eviction moratoriums expire.

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