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https://www.wsj.com/articles/fraudulent-covid-aid-drove-up-u-s-house-prices-report-says-bfef67fa

Fraudulent Covid Aid Drove Up U.S. House Prices, Report Says

Researchers found that people who defrauded the government for pandemic relief poured money into housing markets, driving inflation in some areas

By Richard Vanderford
Homes in Cook County, Illinois. Researchers who linked pandemic loan fraud to higher real-estate prices said more than 30% of pandemic loans in the county were suspicious. Photo: eileen meslar/Reuters

Fraud against the Paycheck Protection Program was widespread enough to bump up real-estate prices within certain U.S. ZIP Codes, researchers at the University of Texas concluded, blaming the abuse on some of the financial technology companies that provided the loans.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.