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Report
Household Rental Debt During COVID-19: UPDATE FOR AUGUST 2021
This research update provides new estimates of rental debt that households have accrued because of job loss or involuntary part-time work during the COVID-19 pandemic. The purpose of this update is to provide national and state stakeholders with updated estimates of pandemic-related rental debt as we approach the end of the national eviction moratorium implemented by the Centers for Disease Control and Prevention (CDC).1 These estimates should be interpreted as the amount of rental debt existing prior to the distribution of emergency rental assistance.
Report
Household Rental Debt during COVID-19
This report estimates the number of households with rental debt — and the amount of debt owed — resulting from employment losses attributable to COVID-19.
Discussion Paper
HOUSEHOLD RENTAL DEBT DURING COVID-19
COVID-19 and associated economic shutdowns have led to unprecedented job losses, with up to 20 million households and 24 million individuals experiencing an unemployment spell between March 2020 and August 2020.1 The scale of these losses, their disproportionate impact on lower-income workers, and the uncertain timeline of economic recovery have raised concerns about the ability of households to maintain rent payments while out of work.
Working Paper
The Effects of Gentrification on the Well-Being and Opportunity of Original Resident Adults and Children
We use new longitudinal census microdata to provide the first causal evidence of how gentrification affects a broad set of outcomes for original resident adults and children. Gentrification modestly increases out-migration, though movers are not made observably worse off and neighborhood change is driven primarily by changes to in-migration. At the same time, many original resident adults stay and benefit from declining poverty exposure and rising house values. Children benefit from increased exposure to higher-opportunity neighborhoods, and some are more likely to attend and complete ...
Working Paper
Supply Shock Versus Demand Shock: The Local Effects of New Housing in Low-Income Areas
We study the local effects of new market-rate housing in low-income areas using microdata on large apartment buildings, rents, and migration. New buildings decrease nearby rents by 5 to 7 percent relative to locations slightly farther away or developed later, and they increase in-migration from low-income areas. Results are driven by a large supply effect—we show that new buildings absorb many high-income households—that overwhelms any offsetting endogenous amenity effect. The latter may be small because most new buildings go into already-changing areas. Contrary to common concerns, new ...
Report
Renters’ Experiences During COVID-19
This brief provides a summary of renters’ experiences during the COVID-19 pandemic with rental debt, landlords, eviction worries, rental assistance programs, and spending adjustments. It is based on the renter portion of the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI) COVID-19 Survey of Consumers – Wave 7, which was conducted in January 2021
Report
Renters’ Experiences During COVID-19
his brief provides a summary of renters’ experiences during the COVID-19 pandemic with rental debt, landlords, eviction worries, rental assistance programs, and spending adjustments. It is based on the renter portion of the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute (CFI) COVID-19 Survey of Consumers – Wave 7, which was conducted in January 2021
Working Paper
Eviction and Poverty in American Cities
More than two million U.S. households have an eviction case filed against them each year. Policymakers at the federal, state, and local levels are increasingly pursuing policies to reduce the number of evictions, citing harm to tenants and high public expenditures related to home lessness. We study the consequences of eviction for tenants, using newly linked administrative data from Cook County (which includes Chicago) and New York City. We document that prior to housing court, tenants experience declines in earnings and employment and increases in financial distress and hospital visits. ...