The California Homeless Housing Needs Assessment estimates that ending homelessness at the current level will cost $8.1 billion per year for 12 years. This computation excludes federal aid. After budgeting $1.2 billion from California’s $303 billion budget, the projection is 2.7%, or $6.9 billion.
Cost breakdown: The report suggests creating 112,527 affordable flats at a cost of $5.7 billion per year for 12 years to subsidize operations and rents for 225,053 apartments at .
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The plan also requires the state to fund interim interventions for 32,235 individuals and families and provide supportive housing for 62,966 Californians with disabilities at a cost of $488 million per year for 12 years, totaling $80.1 billion. Maintenance would cost $4.7 billion per year after that.
According to Bloomberg.com, Debbie Thiele, regional managing director for the Corporation for Supportive Housing, “California has invested record amounts of funding toward homelessness in recent years, which has resulted in more people accessing shelters and decreases in the proportion of unsheltered people.
Only homes end homelessness. The state has never created a clear plan for its investments and homeless shelter.
This may seem like a lot of money, but the ongoing financial and human costs to the state are much higher. Many blame mental illness and drug usage for individuals living on the streets, yet housing costs in big cities like Los Angeles and San Francisco are rising every year, so it’s not a character flaw.
Without action to eradicate homelessness, the problem will simply worsen as rents increase unchecked and jobs with wages to cover housing and other requirements remain scarce.
California has a nation-state economy. The state is the fifth-largest economy in the world and is close to surpassing Germany as the fourth.
While many caricature the state as falling apart, California’s economy is stronger than many other countries and states in the US. Ending homelessness would cost 3% of California’s budget or 0.2% of its economic output.
According to Bloomberg.com, California Assembly Housing Committee Chair Buffy Wicks remarked, “This has metastasized into a disaster of epic dimensions.
It needs similar funding. “Everyone says your budget is your values,” Wicks added. “The California state budget does not fund homelessness.”