Impact of Ending $600 Federal Unemployment Supplement

[Brad Gibson]

With the end of the federal supplemental unemployment benefits ($600 per week) in July, will we see huge increases in missed rent payments in Sept?

While many here have anecdotally reported that they are collecting rents at above 90-95% since April, I wonder if there is a potential problem on the horizon.  There has been no move to extend those benefits to people who have remained unemployed or have just lost their jobs.  In addition, the PPP will be exhausted either at the end of June or in July for most businesses which could mean another round of layoffs.

I'm pretty concerned that with no federal assistance, things might get more ugly.  Any word on an extension?

[Robert S.]

@Brad Gibson

This extra $600 needs to end it was super unfair. I had guys trying to get fired because they would make more sitting at home collecting the unemployment and the extra $600. This whole thing made no sense what’s so ever and it made people lazy and messed up many small businesses because people didn’t wanna come back to work when they were able to.

Imagine all the people that worked the people off got paid more in many circumstances then they still got the $1200. Extra $200-$300 would of been fair to balance out what they normally made and when they were able to go back to work they had to would of been more fair.