With Congress at loggerheads onan extension of pandemic-related unemployment benefits, analystssaid that housing markets could take a hit if authorization for the$600 per week payments is ended as of July31.
Currently there is a proposal by the Senate to reduce benefitsto $200 per week temporarily until a permanent plan of offering 70%of a person's previous earnings can be implemented. TheHouse of Representatives passed a measure earlier this yearextending the $600 weekly benefit to the end of 2020.
According to anew report from Zillowresearch, 30 million persons could see their pandemic benefits cometo an end if no extension is approved and signed intolaw.
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Michael Riccardi
Michael Riccardi has been a reporter and editor at ALM publications for more than 20 years. A graduate of Villanova University's law school, he lives in Philadelphia. He can be reached at [email protected].
