Is the shattered U.S. economy driving people into the streets?

Originally posted on Quora July 11, 2022

Specifically, out of control real estate speculation is driving people away from big metros or into homelessness. Just a $100 or 5% increase in rent YTD is associated with a 9% increase in homelessness.

A 5% rent increase would push 2,000 Angelenos into homelessness

Homelessness: Better HUD Oversight of Data Collection Could Improve Estimates of Homeless Population

Now imagine instead of 5% or $100 a month YTD increase rents rise anywhere from 14% nationwide to 40% in big metros like Miami and Austin and several hundred to over a thousand dollars per month YTD. You don’t have to imagine because that’s our current reality.

Rents Rise 14% in December - Biggest Jump in Over 2 Years

There are two solutions: sprawl or value capture and we’ve been doing the former for the past 250 years with worse results.