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California has a $5.2bn plan to pay off unpaid rent accrued during the pandemic

The rent forgiveness program would pay landlords all of what they are owed while simultaneously giving tenants a clean slate

The Guardian - California is pursuing an ambitious plan to pay off the entirety of unpaid rent from low-income tenants who fell behind during the pandemic, in what could constitute the largest ever rent relief program in the US.

The state’s governor, Gavin Newsom, is negotiating with legislators and said the $5.2bn plan would pay landlords all of what they are owed while giving renters a clean slate.

If successful, the rent forgiveness plan would amount to an extraordinary form of aid in the largest state in the US, which has suffered from a major housing crisis and severe economic inequality long before Covid-19.

Read the entire article here.

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