Most people remain blissfully ignorant of the economic wounds inflicted on the US economy by the government-imposed economic shutdowns in response to the coronavirus. But every once in a while, the curtain blows back and we catch a glimpse of the damage.
For example, a report released last week by global advisory firm Stout, Risius and Ross estimated that Americans currently owe more than $21.5 billion in past-due rent.
More and more Americans are struggling to pay their rent.
According to a report from the Joint Center for Housing Studies of Harvard University, one in four renters are paying more than half their income on housing. This equates to 10.9 million renters.