The New Republic, April 22, 2024, The Real Culprit In Our Housing And Homelessness Crisis: Wall Street
Forty-three years into America’s Reaganomics experiment, homelessness has gone from a problem to a crisis. Rarely, though, do you hear that Wall Street—a prime beneficiary of Reagan’s deregulation campaign—is helping cause it. Thirty-two percent seems to be the magic threshold, according to research funded by the real estate listing company Zillow. That is, when neighborhoods hit rent rates in excess of 32 percent of neighborhood income, homelessness explodes.
