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Personal Finance

Amid the pandemic, some people can’t afford rent; others became 401(k) and TSP millionaires

More than 7 million households are behind on rent, according to the Census Bureau. Meanwhile, average retirement account balances reached record levels.

Perspective by
Columnist
May 25, 2021 at 5:55 p.m. EDT
(iStock)

Millions lost their jobs because of the pandemic. Tens of millions of Americans needed federal stimulus payments to put food on the table.

Many renters are bracing for possible eviction notices. Of all U.S. adults living in renter households, about 15 percent (almost 1 in 7) said they were behind on rent payments as of the two weeks ending May 10, according to a Census Bureau survey that aims to capture pandemic-era hardship.