Boston real estate economy is suffering in the top tier due to the coronavirus pandemic, according to an analysis by personal finance publication Bankrate.
To measure the fallout, and also to determine which real estate markets could be most impacted by the pandemic in the coming years, the company determined a Housing Hardship Index based on July mortgage delinquency rates from Black Knight and July unemployment rates from the U.S. Department of Labor.
Massachusetts. Massachusetts had the worst unemployment rate in the nation in July, repeating June’s reading. However, its mortgage delinquency rate was a comparatively low 5.81 percent. The state had reported nearly 9,000 deaths from COVID-19 as of Aug. 25. Unemployment fell to 16.1 percent in July from 17.4 percent in June.
Nevada, New Jersey, Mississippi, and New York joined Massachusetts in the top five.