On-Time Rent Payments Sag amid Massive Spike in Rents | Wolf Street

Turns out, there is a perplexing deterioration of on-time rent payments that started in mid-2019 and has continued through the end of 2021, interrupted only by the months when the big stimulus checks – not the little one – went out that allowed more households to make timely rent payments.

Only 92% of renter households had made their rent payment for December by the end of December, the lowest percentage since April 2019, down from 93.8% in December 2020, and down from 95.9% in December 2019.

What also stands out is that the $600 stimmies that went out at the end of December 2020 and in January 2021 didn’t cut it, in terms of rents. They were likely used to deal with the credit-card hangover from holiday essentials.

On-Time Rent Payments Sag amid Massive Spike in Rents | Wolf Street