"Rising Rent and Record Homelessness: The Unaffordable Housing Crisis in America"

A report from Harvard's Joint Center for Housing Studies reveals that homelessness in the U.S. surged in 2023, with approximately 653,000 people experiencing homelessness, marking the largest single-year increase on record. The rise in homelessness is attributed to soaring rents, which have outpaced worker wage gains, leaving many households spending between 30% and 50% of their income on housing. The expiration of pandemic relief and increasing rental prices have contributed to the spike in housing insecurity, particularly affecting states such as Arizona, Ohio, Tennessee, and Texas.