Class-C apartment tenants have been badly hurt by the economic shutdown precipitated by the novel coronavirus, crushing their ability to pay rents, thereby putting strain on those properties’ owners to continue to cover costs and mortgage payments.
More than 22 million Americans have filed for unemployment in recent weeks. Others are working on reduced hours. Large parts of the U.S. economy remain shut down as states have ordered non-essential businesses to keep closed.
Read more...The Outlook for Class-C Apartments Is Muddied by Tenants' Loss of Income via NREI