New York City Eviction Rates Will Soar Soon

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According to the New York Times, eviction cases are expected to soar in New York City as housing courts reopen and landlords seek to recoup income lost during the pandemic.

Questions:

  1. What is the estimate of how many eviction actions will be filed in New York City’s housing courts in the coming days?
  2. In addition to tentant woes, explain the situation faced by many landlords and what percent may default on their properties.
  3. Before the moratorium, how many evictions took place this year?
  4. About 2.3 million tenants in New York City received relief on their future rent. Explain how this works and who are not affected.

Source:
Haag, M. (2020). A Moratorium on Evictions Ends, Leaving Thousands of Tenants Fearful. The New York Times, June 22 (Retrievable online at https://www.nytimes.com/2020/06/22/nyregion/nyc-evictions-moratorium-coronavirus.html)