Housing News Roundup: May 27, 2015
Homelessness Costs Silicon Valley $520M a Year
A homeless person living on the streets costs Silicon Valley taxpayers $62,000 but only $20,000 when they’re placed in housing, according to a new analysis which found that homelessness costs Santa Clara County $520 million a year. From 2007 to 2012, $3.1 billion was spent on medical and mental health treatment and jail stays. The study’s authors call it the “largest and most comprehensive body of information that has been assembled in the United States to understand the public costs of homelessness.” There are 7,567 homeless people living in Silicon Valley.
Source: San Jose Inside
Are Place-Based Initiatives the Answer to Poverty?
Place-based initiatives may have proven that they aren’t the answer to lifting people out of poverty and ending racial segregation, according to a recent post by Peter Dreier on the National Housing Institute’s Shelterforce blog. “Community development practitioners seeking to build more affordable housing, provide human services, and incubate small businesses, are fighting on a playing field that is tilted against them,” writes Dreier. “The solution is full employment with decent pay and benefits, and only the federal government has the capacity (and responsibility) to guarantee that everyone who wants to work has a job.”
S.F. Area Home Values Keep Climbing
Metropolitan San Francisco’s home values in March were up 10.3% from the same month in 2014, giving it the highest increase for the 20 U.S. metropolitan areas analyzed in the S&P/Case-Shiller Index. The Bay Area also had the highest month-over-month increase, with 3%. “The frenzy in the market this spring has been every bit as overheated as last year and the year before that, which was somewhat unexpected, since everybody is wondering how long this can continue,” said Patrick Carlisle, chief market analyst for San Francisco-based Paragon Real Estate Group.
Source: San Francisco Examiner