Real Estate

Why the U.S. can’t solve the homelessness crisis

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The Covid pandemic caused a surge in housing costs and a rise in unemployment, leaving nearly 600,000 Americans unhoused in 2020.

“What people don’t typically realize when they walk past a person who’s homeless is that this person is costing taxpayers a lot of money,” said Sam Tsemberis, chief executive officer at Pathways Housing First Institute.

In 2019, New York City spent a record-breaking $3 billion to support its homeless population. California is also expected to break its record, allocating $4.8 billion to the same issue over the next two years.

Despite the rising budget, overall homelessness in the U.S. has improved by only 10% compared with 2007. It’s even worse for certain…



Source cnbc.com

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