How the Federal Reserve Helped Cause a Homeless Epidemic

Thursday, August 27, 2015
By Paul Martin

Joshua Krause
The Daily Sheeple
August 26th, 2015

One of the strangest phenomenons of the past decade, is the decreasing rates of homelessness across the United States. Despite the housing bubble crash, the devastating recession that followed, and stagnate wages, the number of people living on the streets in America has fallen in recent years. However, this hasn’t been the case across the board. In some cities and states homelessness is rapidly increasing, and the reasons why don’t bode well for our nation’s financial future.

Take Los Angeles for instance. A recent study found that 13,000 people in LA County fall into homelessness every month, which is a dramatic increase from previous years.

The group’s analysis was based on records for 9 million county residents who received public assistance at any point between 2002 and 2010. The study said many systems, including disability screening, mental health, foster care and criminal justice, fed into the homelessness pipeline. The 2007 to 2010 recession also drove many out of their homes, it said.

Several homeless service providers said most of these factors had been discussed anecdotally for years, but the report is the first to capture the scale of the problem and predicted it could have a strong impact.

“It is going to be a mover and shaker moment,” said Mollie Lowery of Housing Works. “It really brings home, just the sheer numbers. We’re talking about 13,000 a month. Even me who works in the field had no idea those numbers were out there.”

The latest official homeless count found 44,000 people living in county streets in a three-day period in January, a 12% increase in two years. The survey also found a 37% rise in chronically homeless people. But it has long been acknowledged that many more move in and out of homelessness throughout the year.

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