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Photo: DeAgostini/Getty Images

Amid the coronavirus pandemic, nearly one-third of apartment renters in the U.S. didn't make their April payments, according to numbers from the National Multifamily Housing Council and a group of real-estate data providers.

By the numbers: 69% of tenants paid some rent between April 1-5, down from 81% in the first week of March and 82% in April 2019.

The data comes from 13.4 million apartments analyzed by several real-estate data firms. People who only paid a portion of their rent were included among those who paid. The data does not count single-family homes, and the apartments tallied exclude public housing and subsidized affordable housing.

Why it matters: The numbers shed new light on the economic hardships the COVID-19 outbreak has brought on Americans. The due dates for most rental payments came the same week as a record 6.6 million people filed for unemployment — a number that eclipsed the 3.3 million who filed the preceding week.

The impact: Some renters will be temporarily protected from eviction for unpaid rent by a collection of federal and local laws.

  • But, but, but: Many real-estate analysts speculate that unpaid rent could snowball to cause commercial mortgage defaults, terminating investments in bonds backed by those mortgages, the Wall Street Journal notes.

Go deeper

Moderna says vaccine appears to protect against new COVID-19 variants

Photo: Justin Tallis/AFP via Getty Images

Moderna's COVID-19 vaccine is effective against new variants of the virus that first appeared in the U.K. and in South Africa, the company announced on Monday.

Yes, but: The vaccine was as effective against the strain from U.K., but saw a six-fold reduction in antibodies against the South Africa variant. Even still, the neutralizing antibodies generated by the vaccine "remain above levels that are expected to be protective," according to the company.

Dave Lawler, author of World
Updated 1 hour ago - World

Xi Jinping warns against "new cold war" in Davos speech

Chinese President Xi Jinping. Photo: Wang Zhao - Pool/Getty Images

Chinese President Xi Jinping warned that a "new cold war" could turn hot, and must be avoided, in a speech on Monday at World Economic Forum’s virtual “Davos Agenda” conference.

Why it matters: Xi didn't refer directly to U.S.-China tensions, but the subtext was clear. These were his first remarks to an international audience since the inauguration of President Biden, whose administration has already concurred with Donald Trump's determination that China is committing "genocide" against Uyghur Muslims, and issued a warning about China's aggression toward Taiwan.

Updated 2 hours ago - Politics & Policy

Dominion files $1.3 billion defamation lawsuit against Rudy Giuliani

Photo: Rey Del Rio/Getty Images

Dominion Voting Systems filed a defamation lawsuit against Rudy Giuliani on Monday seeking $1.3 billion in damages for his "demonstrably false” allegations about the company's voting machines.

Why it matters: Giuliani led former President Trump's efforts to overturn the results of the election and spread the baseless conspiracy theory that Dominion's voting machines flipped votes from Trump to Joe Biden.