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The people who become homeless because their rent went up certainly exist. These people tend to be homeless for a short amount of time because they are able to
by issa 5y ago
The people who become homeless because their rent went up certainly exist. These people tend to be homeless for a short amount of time because they are able to eventually find new housing. Maybe they live in their car for awhile. Maybe they couch surf. But it's a good point that there are people with mental health / drug problems that have issues beyond housing cost. Both can be true at the same time.
- DoreenMichele 5y agoResearch by Zillow Group Inc. last year found that a 5 percent increase in rents in L.A. translates into about 2,000 more homeless people, among the highest correlations in the U.S. The median rent for a one-bedroom in the city was $2,371 in September, up 43 percent from 2010. Similarly, consultant McKinsey & Co. recently concluded that the runup in housing costs was 96 percent correlated with Seattle’s soaring homeless population. Even skeptics have come around to accepting the relationship. “I argued for a long time that the homelessness issue wasn’t due to rents,” says Joel Singer, chief executive officer of the California Association of Realtors. “I can’t argue that anymore.” https://www.bloomberg.com/news/features/2018-11-20/the-homeless-crisis-is-getting-worse-in-america-s-richest-cities https://www.bloomberg.com/news/features/2018-11-20/the-homel...