Real Estate

States will soon start giving out $25 billion in rental assistance

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Tenants and housing activists in Brooklyn, New York, protested in a Bushwick park on July 5.

Erik McGregor | Getty Images

A $25 billion federal rental assistance fund will soon be disbursed to states, allowing those struggling amid the Covid pandemic to apply for the money.

By one estimate, 14 million Americans are behind on their rent during the crisis. Advocates say more rental assistance will be needed to stave off an unprecedented wave of evictions. After 10 months of record job losses and business shutdowns, rental arrears in the U.S. may be closer to $70 billion.

President Joe Biden is calling on Congress to allocate another $30 billion in housing aid, and on his first day in office…



Source cnbc.com

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