Posted on 07/13/2024 8:36:43 AM PDT by SeekAndFind
According to a Pew Charitable Trusts study, rising rental prices are directly linked to an increase in homelessness in the United States.
As Statista's Ann Fleck reports, the U.S. Department of Housing and Urban Development’s homelessness data and Apartment List rent data from 2017 and 2022 shows that of the six metro areas where homelessness increased the most, rents had also risen faster than the national average.
These were Sacramento, Fresno, Raleigh, Phoenix, Austin and Tucson.
You will find more infographics at Statista
Meanwhile, four areas that saw declines in homelessness also saw below-average increases in their median rents.
The writers of the report explain:
“There are still places in the U.S. where levels of homelessness are low, either because those places have low-cost housing readily available - such as Mississippi, where homelessness is 10 times lower than California - or because they have rapidly added housing and made a concerted effort to reduce the ranks of residents without homes. In Houston, the rate of homelessness is 19 times lower than it is in San Francisco, even though Houston’s population has grown more than San Francisco’s in the past decade. Looking at these markets helps to show how population growth generally does not explain growth in homelessness, except in instances where there is not a sufficient increase in the housing supply.”
The analysts further note that while homelessness often has several contributing factors - such as substance use disorder, mental health, weather, the strength of the social safety net, poverty, or economic conditions - none are as impactful as the role of high housing costs.
Master of the OBVIOUS!
Adam Smith dismissed this idiocy long ago. Rents are high because demand is high. Demand is high because the government prints money to provide free housing to illegal invaders. That hardworking citizens and veterasn are rendered homeless as a result is because they are priced out of the market by government driven demand.
Regular congestion of organisms will ultimately result in regular defections.
As in, how much is the rent....not, how much is the rents.
When dope gets cheaper, homelessness rises, cause street people can’t get stoned in a homeless shelter.
Wow. Who knew? Did you know? What a revelation.
The homeless people have figured out that comfortable year round climates like CA coastal cities are a lot better places to be homeless than the frozen north.
Homeless people react to incentives—just like everyone else.
For instance, a place that I was looking into last year rented a two bedroom, one car garage, meant exclusively for seniors, for $800 a month. Not too bad. This year that same place now rents those same units starting at $1200 and up. $800 I could afford, $1200, no way. That's in Indiana. I have been looking everywhere, and outside HUD/Section 8 housing, rent is simply too high to afford, and those places are jacking up the rates, stealing 1/3 of your income/retirement.
I'm lucky that management where I currently reside keeps my rent low because I've been here for several years (12 year). But now that I am retired I want to relocate and can't do so, and I've been looking everywhere across the USA. Rates everywhere are through the roof.
Part of the problem is that government has upset the balance between landlord and tenant. Good luck these days removing a destructive tenant, or one who refuses to pay rent. It now takes months.
Maybe a huge corporation can absorb these losses. But a small landlord cannot.
People in construction say the government is bringing in people so fast there is no way they can keep up with demand.
Economics is largely about effects not seen and events that do not happen.
I could afford to invest in building rental real estate but refuse to do so for a bunch of reasons discussed in great detail around here. The risk/reward factor is out of whack—too risky for the potential rewards.
That non-event of what I do not do—multiplied by hundreds of thousands of potential investors—means a shortage of rental units and therefore much higher rents.
Homelessness is often a poor lifestyle decision affected not at all by rising rents.
Gee. I wonder what all these cities have in common???
What are the rents paid by the government to 1000 landlords for 100000 undocumented invaders? The gubmint is not paying one rent it is paying rents to lots of different members of the scamming off the tax payer elites in this country. It’s the mother of all rent seeking behavior, literaly scamming for the payment of rent above what would have been a much lower market value.
The continual real estate scam that is the US economy is why the weight of California is going to capsize the US.
Lets don’t leave out the rise of the flophouse which is the New scourge of metro Atlanta. We now have one next door. The county will do nothing. 15-16 people in a house 10-12 cars in the driveway. They’re in every neighborhood.
AND Property taxes & property INSURANCE are going up exponentially.
Friend lives in average house in Foothills of the Sierra Nevada—west side.
HER house insurance has gone up to OVER $10,000.
She can no longer afford to Retire in Calif
Pretty obvious that inflation destroys the standard of living.
Inflation is a transfer of wealth to the Government and the rich who own real assets.
Economics 101.
And what causes rents to rise?
“When Rents Rise, So Does Homelessness”
And then those same rental properties become illegal alien living quarters at even higher monthly rent thanks to the government, I mean taxpayers, footing the bills.
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