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Planet Money

What If No One Pays Rent?

Planet Money

NPR

Business, News

4.629.8K Ratings

🗓️ 9 April 2020

⏱️ 22 minutes

🧾️ Download transcript

Summary

We follow the distress from a laid-off worker, to her landlord, to the multi-trillion-dollar mortgage market. | Subscribe to our weekly newsletter here.

Transcript

Click on a timestamp to play from that location

0:00.0

This is Planet Money from NPR.

0:07.2

The other day we called up Emily Gordon.

0:09.4

She works as a server at a Mexican restaurant called Cafe Inez in Philadelphia.

0:13.7

Or at least she used to work there until last month when she got laid off, like so many

0:18.4

other people who work at restaurants all around the country.

0:21.6

And just like so many other people across the country, she found herself in this position

0:25.6

where her income had totally stopped, but her bills had not.

0:30.4

So today we happen to be talking to you on the first of the month, on April 1st.

0:34.7

Is your rent due today or when is your rent due?

0:38.6

So it is due today.

0:40.1

And you said you had money saved up.

0:41.9

How much money did you have saved up?

0:43.7

I had about 1,500 bucks saved.

0:46.4

Okay.

0:47.4

And what's your rent?

0:48.4

My rent is typically 750 bucks.

0:51.7

Okay.

0:52.7

So that's a lot of your savings.

0:53.7

I mean, obviously if you don't have income.

0:55.7

Yeah, it would be a half, yeah.

0:58.0

Emily decided that without any income and without any way to go back to work as a server

1:02.8

anytime soon, she shouldn't spend half her savings on just this month's rent.

...

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