Rent crisis spirals for U.S. landlords awaiting $47 billion in relief
While the government passed sweeping measures last year to prevent mass homelessness, there was no targeted help for mom-and-pop property owners who provide much of America’s affordable housing.
Bloomberg
(Bloomberg)—More than a year since Covid-19 lockdowns put millions of apartment dwellers out of work, almost $47 billion in U.S. government rent relief is hitting the streets. For many landlords, it’s coming much too slowly.
Joaquin Villanueva, an airport janitor who owns a three-unit rental house in East Boston, had to take out a home-equity loan just to pay the bills. One tenant, eight months behind on rent, vanished one night in March. An unemployed restaurant dish washer in another unit owes $5,000.