http://homes.yahoo.com/news/skyrocketing-rents-hit--crisis--levels-193605175.html
This is the root of a lot of the increase in homelessness.
How do we tackle this problem?
While many Americans are not in a position to buy homes due to the economy and other factors, international buyers have stepped in and created an artificially high and robust housing market. If it were truly robust the interest rates would be rising quickly and they are not. The renters cannot afford and or qualify to buy so they are forced to rent. This has created a booming rental market that speaks very badly for the economy and things in general.
The American dream of owning a home is becoming a distant memory and younger generations do not even aspire to do so. What are all these people who can’t afford to buy homes or rent them going to do? More than likely turn to crime, out of sheer necessity. If they get caught what is the downside? Sure loss of freedom but that may be well worth it for a bed, 3 meals per day and access to services they probably had a hard time getting before they went to prison. Do you know how much it costs the government to incarcerate people? A lot, and I am sure way more than the subsidies and food stamps they were giving out before. I often think the government just doesn’t think about what will happen if they push these people too far.
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
Phone: 561-756-1665
Fax: 561-470-0707
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