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Halting evictions could have long term effects on the economy

Many worry they will not be able to pay back rent
Posted at 12:18 AM, Jul 02, 2020
and last updated 2020-07-02 01:04:01-04

Governor DeSantis’ extended the halt on evictions until August 1st.

But may worry they will not be able to afford months worth of back rent when all is back to “normal”.

Fox 4 broke down some of the long term effects the COVID-19 pandemic will have on our economy.

Marissa Stafford lives in Cape Coral and has been unemployed for several months, with little to no financial support.

“I am still waiting on my return and my stimulus, ” said Stafford.

Governor DeSantis’ extension on evictions has given her some room to breathe.

“It will definitely help at least keep us in the house, ” said Marissa Stafford.

She has months of back rent totaling thousands of dollars.

“My total that I am due right now without July is $7300, ” said Stafford.

Fortunately, Marissa was approved for some rent relief through the Cares Act, but she has yet to receive it.

Florida Gulf Coast Professor of FInance Tom Smythe urging landlords to be patient with tenants.

“I would hope landlords would not expect all those payments to come back at once but there would be some type of payment plan,” said Smythe.

He says there are two sides to this issue, as landlords are now left in the dark and need funding for operational costs.

“The longer it goes and the more people build up in terms of back rent the more difficult and the longer it will take for us to get back to an economic normal,” said Tom Smythe.

Marrisa and many others continue to feel the economic impact of COVID-19.

“The government thinks everything is hunky-dory and everything is going to be okay, but it is really not that way, ” said Stafford.

Professor Smythe says the future of our economy lies largely within the hands of this virus.

“All of this is just very different from anything we’ve ever seen and therefore how we come out of it is a little bit unpredictable, ” said Smythe.

Tenants who were evicted during the suspension period can seek legal help at