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IPFS News Link • Economy - Economics USA

An Enormous Chunk Of The U.S. Population Is Either Homeless, Living In Poverty Or Considered...

•, by Michael

As the U.S. economy slows down, those at the bottom of the economic food chain are being hit the hardest.  Homelessness is surging, the number of Americans living in poverty is rising, and more Americans are considered to be among "the working poor" than ever before.  Unfortunately, we are witnessing a historic economic shift right now, and economic conditions are only going to get even more harsh during the months ahead.  Needless to say, that is really bad news for all of us.

According to a report from Harvard University, approximately 650,000 Americans were homeless at some point last year.  That represented an increase of nearly 50 percent from 2015…

A January 25 report from Harvard's Joint Center for Housing Studies estimated that over 650,000 Americans experienced homelessness in 2023—up almost 50% from 2015. Costs of renting and home ownership have skyrocketed while wages largely stagnate. The Harvard report found that half of U.S. households are "cost-burdened" (meaning that 30-50% of monthly income goes to housing), and 12 million people are "severely cost-burdened." These Americans stand one accident, health setback, or employment disruption away from eviction.

During the past several years, scores of tent cities have sprouted like mushrooms in and around U.S. cities from coast to coast.

One 32-year-old woman named Brandy that is living in a tent city near Winterhaven, Florida says that she has been living there for five years and literally has nowhere else to go

Deep in the woods outside of Winterhaven, Florida, are a cluster of tents and tarps. There are 46 people that live in this homeless encampment, including Brandy C., who has been there for five years.