Recently I came across a stunning statistic that I was unaware of earlier. California has approximately 1/4 of all homeless people nationwide. One out of every 4 homeless persons is in California.
Is it the climate, social programs, or something else? Surprisingly, homeless populations are growing in the cities and states that are the most expensive to live in. Rising rents and home prices have displaced thousands of otherwise working people due to unaffordable rents.
Is building more homes the answer? No, this only adds more fuel to the already overpriced markets.
California was recently ranked as the #1 state NOT to buy real estate in. This is obviously a broad overstatement, however, the country now knows what we have known all along.
Why is this happening? No one knows for sure and I am sure everyone has an opinion on this. Let me ask you this though. What else can be done to make home affordability possible? We need shelters, homes, apartments and most of all, we need living wages in these overpriced areas! Want to get rid of homelessness? Find affordable shelters with living wages jobs. Unfortunately this is easier said than done and this homeless crisis is likely to grow and become more of an issue statewide.