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1、TheResolutionFoundationHousingOutlookLindsayJudge
2、CaraPacittiThisisjustthesecondResolutionFoundationHousingOutlook,butitisbeingpublishedinaradicallydifferentworldtothefirstOutlookofJanuary2020.Whilehousingitselfplayedacentralroleinthedownturnof2008,todaytheeconomiccr
3、isisisbeingdrivenbyafalloffinactivityasjobsdisappearorbecomingverydifficulttoundertake.Inthisnoteweanalysewhatthiscoronavirusincomeshockmeansforfamiliesastheyseektomanagetheirhousingcostsinthecomingmonths,andassessthewaystheyarebeinghelpedtoweatherthestorm.Critically
4、,wesuggestthatevenwithmoregeneroushousingcostssupport,significantnumbersofrenterscouldbuilduprentarrears.Furtheractionfromgovernmentaswellasforbearancefromlandlordswilllikelyberequiredifanuptickinhousingstressistobeaverted.Spotlight
5、Housingandthecoronavirusincomeshoc
6、kFormanyfamilies,housingisthelargestsingleexpendituretheymakeeachmonth,andonethatisdifficulttoeasilyadjust(evencomparedtootheressentialssuchasclothingorheating).Atthetimeofwriting,weestimatethatbetweenone-thirdtoone-halfoftheUK’slabourforceisunabletowork,eitherbecaus
7、epeopleareinsectorsseverelyaffectedbythecrisis;theyhaveschoolagechildrenbutarenotkeyworkers;ortheyperformnon-essentialjobsthatcannotbedonefromhome(althoughsomeinthisgroupmaystillbetravellingtowork).Coronavirusmaynotdiscriminateintermsofwhogetsill,butitclearlydoeshave
8、differentialeconomicimpacts.Figure1showshowtheincomeshockiscurrentlybeingexperiencedacrosshousingtenures.FIGURE1:ThecoronavirusincomeshockisexperienceddifferentlyacrosstenuresHousingtenureandabilitytowork,April2020:UK79%80%MortgagedownerPrivaterenterSocialrenter70%60
9、%59%27%33%54%50%50%40%30%17%23%23%20%20%24%20%10%0%ThoseinsectorsdirectlyThoseunlikelytobeabletoThoseunlikelytobeabletoAllatriskaffectedbysocialdistancingworkwithschoolsclosedworkfromhome1NOTES:Economicallyactiveindividualsonly.SOURCE:RFanalysisofONS,LabourForceS
10、urvey.WhiletheGovernmenthasrapidlyputinplaceverywelcomepoliciestosupportincomes(includ-ingitsjobretentionscheme,supportfortheself-e
