Evictions soar as landlords hike rents

Evictions are up 50% after the pandemic, reports the Associated Press, with rents rising sharply and temporary tenants' benefits expiring.

Among the hardest-hit are Houston, where rates were 56% higher in April and 50% higher in May. In Minneapolis/St. Paul, rates rose 106% in March, 55% in April and 63% in May. Nashville was 35% higher and Phoenix 33% higher in May; Rhode Island was up 32% in May.

The latest data mirrors trends that started last year, with the Eviction Lab finding nearly 970,000 evictions filed in locations it tracks — a 78.6% increase compared to 2021, when much of the country was following an eviction moratorium. By December, eviction filings were nearly back to pre-pandemic levels.

Inflation, they say. But aren't most homes in the U.S. bought with fixed-rate mortgages taken out before rates went up? Inflation should make repayments on those easier, not harder, for landlords to handle.