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A report from GOBankingRates explored how U.S. renters and homeowners fared during the COVID-19 pandemic as the one-year mark approaches. The report found that nearly half of all Americans missed rent or mortgage payments during the pandemic.
Americans all across the country have had to deal with numerous financial pressures brought upon by the pandemic. These common issues include losing a job, sacrificing careers for childcare, covering health expenses, pivoting businesses to stay afloat and much more, according to the report. Maintaining daily and monthly expenses like rent or mortgage payments have even become an intense struggle. GOBankingRates' survey has found that 46% of Americans missed one or more rent/mortgage payments and that 25% have missed more than one.
The report also revealed that 48% of men missed one payment compared to 45% of women. GOBankingRates attributes these missed payments to the 22% of Americans who lost their jobs during the pandemic and are still unemployed.
"Those who are in the entry-level jobs at most companies are usually seen as the most dispensable, so the logic follows that if they were let go at the beginning of the pandemic, they would also in most cases be the last to be rehired," said GOBankingRates associate researcher Julia O'Brien.
Click here to read more from the report.