Yes, the economic news has been grim, and it would seem the pandemic that has confined people to their homes could also threaten the stability of this key segment of the economy. More than twice as many Americans lost their jobs in April than in the two years during the Great Recession. About a third of apartment renters didn’t pay their rent in the first week of April. Consumer spending in March plunged 7.5%, the largest one-month decline since the government started tracking it in 1959. Despite the real threat to our economy, the housing market could end up being more resilient than many homeowners and would-be buyers…
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