Renters & Buyers Face Drastically Different Covid 19 Financial Conditions

Posted By Gracen Tilton @ Sep 3rd 2020 1:35pm In: Charleston SC Real Estate

As eviction moratoriums expire at the federal and local levels, millions of U.S. renters could be at risk of eviction over the next several months, according to a report compiled by a series of housing researchers. Nearly half of renters were already cost-burdened before the pandemic, according to the Joint Center for Housing Studies, and roughly one third of U.S. renter households were unable to make a full August payment in the first week of the month, according to ApartmentList.

However, economic and legal conditions provide homeowners or potential buyers with far more protections – and even benefits. Because mortgage rates have hit a series of record lows, home buyers are rushing to lock in low rates and current homeowners are refinancing their mortgages.

Gracen Tilton | Marshall Walker Real Estate | 582 Rutledge Avenue | | 803-549-6318

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