Recession and Recovery the Critical Role of Housing

As the nation confronts its greatest economic downturn since the Great Depression, concerns related to housing affordability and stability loom large. An estimated 12–15 million renters are likely to be immediately affected by job or income losses from the COVID-19 pandemic. Although not news to the 20 million renters who have long faced housing insecurity owing to high housing costs, the pandemic and resulting job losses have raised concerns about the lack of housing rental subsidies, particularly for lower-income households.