How Much Will It Cost to Save Americans From Losing Their Homes Amid Coronavirus?

This one is going to sting: The worst case scenario cost to save Americans from losing their homes totals $162 billion, according to the Urban Institute's Housing Finance Policy Center. Even if the worst does not come to pass, the most likely scenario would still cost the country billions, ringing in at $40.5 billion to assist 14.6 million households for three months. For comparison, the worst case scenario is if 29.2 million households need assistance for six months. To analyze the impact, the center took into account the unemployment and the price of housing. And as the stimulus bill includes moratoriums on evictions and foreclosures as well as other tenant protections, these numbers are definitely ones to keep your eyes on.

Some $162 billion.

This is how much it would cost to keep financially strapped Americans in their homes as the coronavirus pandemic continues to roil the nation’s economy, according to the Urban Institute’s Housing Finance Policy Center.

The amount reflects a worst-case scenario in which 40% of renters and 24% of homeowners would request rent or mortgage assistance for six months. If they seek forbearance for only three months, the cost drops in half, to $81 billion.

Read More