Homelessness Is An Economic Issue

During last year’s homeless count, over 11,000 people were found living unsheltered lives in Seattle.

This isn’t a jobs or a mental health issue. It is an affordable housing issue. There are ways to solve the problem, we, as citizens, need to pay attention and support leaders who want to help.

McKinsey and Company just published a whitepaper about Seattle and the economics of homelessness in the city and surrounding King County. Showing how the recent spike in rental prices have a direct correlation with increased homelessness, the article details what led to the crisis. The authors also put forward potential solutions, including more government resources allocated to mitigating the situation.

The authors estimate estimate a budget of $360 million to $410 million would be needed, but this is roughly twice what the system invests today.

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