CBS 2's Marissa Parra reports Gov. JB Pritzker says he will extend the statewide moratorium on evictions for another 30 days. The moratorium was set to expire on Saturday.
BRAD EDWARDS: A big development today buys a little more time for struggling renters in Illinois. The ban on evictions extended 30 more days. CBS2's Marissa Parra working for Chicago joins us live. Marissa, some landlords lose another month now of collecting money.
MARISSA PARRA: Brad, it'll soon be one full year of moratoriums on evictions that just keep getting extended one after another after another. And while this might seem like good news for renters, it could actually be putting Chicago's housing industry at risk. The pandemic has created a unique challenge, keeping the housing market stable while preventing further homelessness for furloughed renters while keeping landlords from going under. Both Lori Quist and Michael Zink are attorneys who represent both housing providers and tenants. Who do you think has it worse?
MICHAEL ZINK: I think they both have quite a challenge, both currently as well as ahead of them.
MARISSA PARRA: CBS News reports that roughly 10 million renters around the country are behind on their payments, adding up to a loss of around $57 billion. According to a survey by Chicago's Neighborhood Building Owners Alliance, 71% of landlords surveyed in September said they had tenants behind on rent. That number rose to 79% just three months later.
MICHAEL ZINK: Many of them are struggling. Many of them will face foreclosure, often dipping into their own savings as well to make sure all their bills are paid.
MARISSA PARRA: And the majority of Chicago's landlords are considered small mom-and-pop operations. Many of them say they're unable to keep up with building maintenance.
LORI QUIST: A lot of desperation from landlords, just trying to figure out how to put food on their table to feed their own families right now.
MARISSA PARRA: She fears without help for landlords, not only will they suffer, but in the long run, renters will still suffer too.
LORI QUIST: They're going to have to recoup that money somehow. That means they're going to, what, double rent? Triple rent?
MARISSA PARRA: Regarding that moratorium extension, Governor Pritzker said today he's going to be looking at how much the state is going to adjust, and that depends on how much federal aid we get. That's currently being debated in Congress. Reporting live along the lakefront, Marissa Parra, CBS2 News.