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Discussion Paper
Who Has Been Evicted and Why?
More than two million American households are at risk of eviction every year. Evictions have been found to cause prolonged homelessness, worsened health conditions, and lack of credit access. During the COVID-19 outbreak, governments at all levels implemented eviction moratoriums to keep renters in their homes. As these moratoriums and enhanced income supports for unemployed workers come to an end, the possibility of a wave of evictions in the second half of the year is drawing increased attention. Despite the importance of evictions and related policies, very few economic studies have been ...
Discussion Paper
Eviction Expectations in the Post-Pandemic Housing Market
Housing is the single largest element of the typical household’s budget, and data from the SCE Household Spending Survey show that this is especially true for renters. As the housing market heated up in the latter stages of the pandemic, home prices and rents both began to rise sharply. For renters, some protection from these increases was afforded by national, state, and in some cases local eviction moratoria, which greatly reduced the risk of households losing access to stable housing if they couldn’t afford their rent. Yet many of these protections have expired and additional supports ...
Working Paper
Eviction Risk of Rental Housing: Does It Matter How Your Landlord Finances the Property?
We show, using a stylized model, how the financing choice of landlords can impact eviction decisions in rental markets. Since multifamily loans rely on timely cash flows from tenants, strict underwriting factors can increase the chances that landlords are able to weather income shocks. Lender provided relief may create further leeway for landlords to work out a deal with tenants who default on rental payments. Using comprehensive data on nationwide evictions in the U.S. and performance records on multifamily mortgages, we confirm predictions from our model by documenting a negative ...
Journal Article
Eighth District Eviction Filings Climb toward Pre-Pandemic Levels
Eviction filings appear headed back toward pre-pandemic levels as short-term interventions lapse, but certain renter protections could help mitigate this trend.
Discussion Paper
Corporate Landlords, Institutional Investors, and Displacement: Eviction Rates in SingleFamily Rentals
In this research we document the eviction crisis in the city of Atlanta and adjacent suburbs. We place eviction-driven housing instability in the broader context of changing housing markets, examining the relationships between post-foreclosure single-family rentals, large corporate landlords, and eviction rates. The rise of the large corporate landlord in the single-family rental market has the potential to rehabilitate vacant properties and offer affordable housing in desirable neighborhoods, or conversely could perpetuate housing instability and spatial inequality. To understand the ...
COVID-era eviction moratoriums improved financial well-being...while they lasted
This analysis leverages new eviction and credit data from Dallas County, Texas, to explore the impact of the moratoriums and to examine trends that surfaced once the moratoriums ended.