Monday, January 21, 2008
Wednesday, January 9, 2008
Homelessness and Low-Income Housing
Yesterday I was generously lent an Urban Economics text book by Prof. Malcolm Getz of the Economics department here at Vanderbilt. I found this interesting tidbit about how the availability of low-income rental housing is directly related to the rate of homelessness:
"a 10% increase in rent on low-quality housing increases the homeless rate by 12.5%." (O'Sullivan, 2003, pg 461)
Basically, as the cost of low-income housing goes up, the homelessness population increases at an even faster rate.
Framed another way, this suggests that if we could lower the cost of Nashville's low-income housing by 10% we could reduce homelessness by 12.5%.
"a 10% increase in rent on low-quality housing increases the homeless rate by 12.5%." (O'Sullivan, 2003, pg 461)
Basically, as the cost of low-income housing goes up, the homelessness population increases at an even faster rate.
Framed another way, this suggests that if we could lower the cost of Nashville's low-income housing by 10% we could reduce homelessness by 12.5%.
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