Federal workers affected by the government shutdown have more than $400 million in mortgage and rent payments due this month, and it could cause chaos for the US housing market
|01/11/2019||Posted by BusinessMediaguide.Com under General World News||
- The ongoing federal government shutdown could start affecting the US housing market soon.
- Federal workers not receiving pay owe $249 million in mortgage payments and $189 million in rent payments this month, according to Zillow.
- Some federal housing programs such as Federal Housing Administration loans, Veterans Affairs loans, and USDA loans are experiencing delays.
- Additionally, the Department of Housing and Urban Development cannot pay rental assistance to landlords who provide roughly 100,000 low-income Americans with affordable housing.
The ongoing government shutdown looks like it may cause a mess for the US housing market.