Many pieces of advice for responding to the coronavirus pandemic are notably deaf to the country’s affordable housing crisis. “Stay at home!” is something many people plaster on social media or voice in-person, and while it’s not bad advice, it’s not possible for everyone. If you have a home, then yes, you should stay in it as much as possible until the pandemic passes.
COVID-19 led to a massive rise in debt, especially that of residential tenants. The reasons are fairly apparent. The pandemic externally shocked the economic system, restricting the kinds of economic activities people could safely do. The resultant risks and lockdown measures led to quick drops in production and demand, leading to rising unemployment. The unemployment cut peoples’ income streams, but there was no proportionate relief in expenses.