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Reproduced from National Multifamily Housing Council; Chart: Axios Visuals

While headlines caution that 6 million people fell behind on their rent or mortgages last month, that number includes many who are supported by government forbearance programs, meaning they face no penalty for missing payments.

Zoom in: The Mortgage Bankers Association found that 3.4 million mortgage payments were missed in September, but the group's own data also show 3.4 million homeowners were enrolled in federal forbearance programs that month.

  • Data from the National Multifamily Housing Council show that 94.6% of Americans paid their rent by month-end in September, nearly identical to the 95.5% who did so in September 2019, and October rent payments are tracking at similar levels to 2019 as well.
  • Data on lower-income rental units show lower payment rates, but at numbers that are broadly in line with 2019, MBA's Fratantoni tells Axios.

"It’s surprising to the extent that six months ago I would’ve expected to see much more distress, particularly on the rental side," Fratantoni says.

Go deeper: Why the stimulus delay isn't a crisis (yet)

Go deeper

Unemployment plunges as the pandemic continues

Data: BLS; Chart: Axios Visuals

Here's the good news for workers: The unemployment rate fell by a full percentage point to 6.9% last month — in the face of rising coronavirus cases, continued pressure on businesses, and no economic relief in sight from the government.

The bad news: That rapid snapback in employment after initial economic lockdowns eased is over. Job growth has slowed every month since June.

3 mins ago - Health

U.S. exceeds 100,000 COVID-related hospitalizations for the first time

People wait outside the Emergency room of the Garfield Medical Center in Monterey Park, California on Dec 1. Photo: Frederic J. Brown/Getty Images

More than 100,200 Americans were hospitalized as of Wednesday due to the coronavirus for the first time since the outbreak began in early 2020, per the COVID Tracking Project.

The big picture: The milestone comes as health officials anticipated cases to surge due to holiday travel and gatherings. The impact of the holiday remains notable, as many states across the country are only reporting partial data.

4 hours ago - Science

The "war on nature"

A resident stands on his roof as the Blue Ridge Fire burned back in October in Chino Hills, Calif. Photo: Jae C. Hong/AP

Apocalyptic weather is the new normal because humans are "waging war on nature," the UN declared on Wednesday.

What they're saying: "The state of the planet is broken," said UN Secretary-General António Guterres, reports AP. “This is suicidal.”