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Odeta: Hello, and welcome back to another episode of the REconomy podcast, where we discuss economic issues that impact real estate, housing and affordability. I'm Odeta Kushi, deputy chief economist at First American. And here with me is Mark Fleming, chief economist at First American. Hi, Mark. You know, the housing industry has an important date coming up.

Mark: Hi, Odeta. That's right. At the end of this month, July 31, there's going to be a change with the end of the Federal ban on evictions and foreclosures, unless they push it further out. But, as we stand right now recording this episode, July 31 will be the end of the ban on evictions and foreclosures for those who have federally backed mortgages. But that's most everybody anyway.

Odeta: Absolutely. And in today's episode, we'll focus on what the end of the moratorium means for the likelihood of a foreclosure tsunami. So, we're not going to get into the policy details of the ban on eviction and foreclosure moratoriums. But, if you are interested, there's a lot of information out there. I really want to get into the economics of it all. I recently read that the Center for Budget and Policy Priorities estimates that there's more than 10 million renters that are behind on their payments. That was a figure as of late May, while there were only about 2 million homeowners that were in forbearance plans as of the most recent MBA report, reflecting the end of June. So, that's a pretty big difference between renter and owner distress. What's going on there?

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June 2, 2021

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