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Record number of Americans are homeless amid nationwide surge in rent, report finds (www.cbsnews.com)

submitted 9 months ago by [email protected] to c/[email protected]

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A growing number of Americans are ending up homeless as soaring rents in recent years squeeze their budgets.

According to a Jan. 25 report from Harvard's Joint Center for Housing Studies, roughly 653,000 people reported experiencing homelessness in January of 2023, up roughly 12% from the same time a year prior and 48% from 2015. That marks the largest single-year increase in the country's unhoused population on record, Harvard researchers said.

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[–] [email protected] -5 points 9 months ago* (last edited 9 months ago)

You clearly haven't educated yourself on the economic factors at play. The "richest" country in the world is rich in valuation, not monetary wealth.

There's a difference between having a bunch of products (and businesses) that are expensive and of high quality than having a bank full of money. (See fed balance sheet)

If you actually take some time out of your day from being condescending to people that actually educate themselves on these matters and look up the current situation with liquidity (i.e. money) in the banking system, you'll realize that the multiple bank failures in 2023 was a prelude to what's going to be happening in 2024-2025.

This is an issue happening all over the world and people continue to not educate themselves on macroeconomics and then have the audacity to comment on it in the exact same fashion you just did.