But the overall housing crisis could actually worsen as many Americans struggle to pay rent at any cost.
The gridlocked coronavirus economy could upend housing from coast to coast, bursting national apartment rents that have risen by 150 percent over the last decade, experts say.
Housing and homelessness experts continue to argue over the solution, from building more housing to fighting gentrification, but the halted economy could end up being the ultimate down force. "With this pandemic, what is likely to happen is people will lose a significant portion of income, so we're likely to see more doubling up for housing," she said."We're also going to see rent discounting and a lot of rent concessions."
But experts say that the housing bill will come due at some point and that evictions and foreclosures will follow. In Los Angeles County, where sprawling homeless encampments shelter nearly 60,000 people, some advocates are bracing for the situation to worsen. Some Airbnb hosts affected by the freeze on travel and tourism say they're considering opening their units to long-term renters, which could increase supply and, theoretically, depress rents.
"We're seeing rents nationwide down," said John Affleck, CoStar's vice president of market analytics."I don't think anyone's going to be migrating or relocating soon except to a family home."
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