Hewitt Housing/Homelessness Q1
Housing affordability has several factors that contribute to the ratio of cost to income. The laws of supply and demand state that as supply dwindles or demand increases the price of anything goes up. This happens despite short time fixes that local, state and federal agencies implement to make it appear as though action is being taken.
Homelessness has even more factors involved in creating a subset to society. Mental health issues, substance abuse, loss of job and just bad luck can lead to living in a tent or worse. As rents become a larger part of one’s income, choices to spend on other things like food and clothing make living in your car or a shelter the only option. Also, parolees and veterans who are leaving guaranteed “housing” have a more difficult time transitioning into civilian life when an entry level apartment and it’s ancillary costs, (utilities etc.) take up more than half of a low end salary.
As more individuals and families find themselves in the ever growing tent cities in and near our urban centers and new suburban tracts are too expensive to build, our area will become something new to this generation. It is called poverty and it happens every time a government guarantees outcomes instead of staying out of the way of carpenters, plumbers, electricians, roofers and realtors.