(C) BoingBoing
This story was originally published by BoingBoing and is unaltered.
. . . . . . . . . .



Evictions soar as landlords hike rents [1]

['Rob Beschizza']

Date: 2023-06-24

Evictions are up 50% after the pandemic, reports the Associated Press, with rents rising sharply and temporary tenants' benefits expiring.

Among the hardest-hit are Houston, where rates were 56% higher in April and 50% higher in May. In Minneapolis/St. Paul, rates rose 106% in March, 55% in April and 63% in May. Nashville was 35% higher and Phoenix 33% higher in May; Rhode Island was up 32% in May. The latest data mirrors trends that started last year, with the Eviction Lab finding nearly 970,000 evictions filed in locations it tracks — a 78.6% increase compared to 2021, when much of the country was following an eviction moratorium. By December, eviction filings were nearly back to pre-pandemic levels.

Inflation, they say. But aren't most homes in the U.S. bought with fixed-rate mortgages taken out before rates went up? Inflation should make repayments on those easier, not harder, for landlords to handle.

[END]
---
[1] Url: https://boingboing.net/2023/06/24/evictions-soar-as-landlords-hike-rents.html

Published and (C) by BoingBoing
Content appears here under this condition or license: Creative Commons BY-NC-SA 3.0.

via Magical.Fish Gopher News Feeds:
gopher://magical.fish/1/feeds/news/boingboing/

You are viewing proxied material from magical.fish. The copyright of proxied material belongs to its original authors. Any comments or complaints in relation to proxied material should be directed to the original authors of the content concerned. Please see the disclaimer for more details.