• Monetary Metals
    05/02/2016 - 01:28
    The price of gold shot up this week, and silver moved proportionally. Headlines are screaming for gold to hit $10,000 or $50,000. Does this alleged new bull market have legs?

New York's Homelessness Worst Since The Great Depression

Tyler Durden's picture


State and local governments nationwide have struggled to accommodate a homeless population that has changed in recent years - now including large numbers of families with young children. As the WSJ reports, more than 21,000 children - an unprecedented 1% of the city's youth - slept each night in a city shelter in January, an increase of 22% in the past year; as homeless families now spend more than a year in a shelter, on average, for the first time since 1987. New York City has seen one of the steepest increases in homeless families in the past decade, advocates said, growing 73% since 2002, and "is facing a homeless crisis worse than any time since the Great Depression."

Homeless advocates said the Obama administration has focused on more visible problems, such as those sleeping on the streets, taking resources away from families. The steep rise has reignited questions about whether New York's economic turnaround of the past two decades has helped the city's poorest residents as they note (despite today's Dow record highs), "the economy is nowhere near where it was."

The blame apparently lies at the cessation of 'entitlements' as the DHS adds, since the end - in Spring 2011 - of a state-funded program that subsidized rent for people leaving shelters; homeless families have gone up 35%; but they also added that the city was working to find employment for the homeless, "a long-term solution." Boston and Washington DC are also seeing homeless numbers surge.




Via WSJ,

An average of more than 50,000 people slept each night in New York City's homeless shelters for the first time in January, a record that underscores an unsettling national trend: a rising number of families without permanent housing.


Families have become a larger share of the nation's homeless population, growing 1.4% from 2011 to 2012, after their numbers fell as the economy emerged from recession.




More than 21,000 children—an unprecedented 1% of the city's youth—slept each night in a city shelter in January, an increase of 22% in the past year, the report said, while homeless families now spend more than a year in a shelter, on average, for the first time since 1987. In January, an average of 11,984 homeless families slept in shelters each night, a rise of 18% from a year earlier.


"New York is facing a homeless crisis worse than any time since the Great Depression," said Mary Brosnahan, president of the Coalition for the Homeless.




New York City has seen one of the steepest increases in homeless families in the past decade, advocates said, growing 73% since 2002.




The steep rise has reignited questions about whether New York's economic turnaround of the past two decades has helped the city's poorest residents.




"The economy is nowhere near where it was," said Seth Diamond, commissioner of the city's Department of Homeless Services. He pointed to the end of a state-funded program that subsidized rent for people leaving shelters, which ended in spring 2011; homeless families have gone up 35% since, according to shelter records.



Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 03/05/2013 - 23:20 | 3303565 TruthInSunshine
TruthInSunshine's picture

From Hoovervilles to Obamavilles/Bloombergvilles.

That Federal Reserve "Bank" has really minimized economic volatility and the boom-bust cycle.

Tue, 03/05/2013 - 23:21 | 3303577 AlaricBalth
AlaricBalth's picture

Just get Mayor Bloomberg to ban homelessness and the problem will be solved.

Tue, 03/05/2013 - 23:24 | 3303587 Temporalist
Temporalist's picture

By banning large drink cups Bloomie halved these people's income.

Tue, 03/05/2013 - 23:31 | 3303605 Pareto
Pareto's picture

Awwww man.  yeah, I know, I'm already going to hell for laughing at that!

Wed, 03/06/2013 - 01:38 | 3303842 WayBehind
WayBehind's picture

Build some shelter using the Zimbabwe (or soon US) dollars. 

Wed, 03/06/2013 - 05:12 | 3304050 Popo
Popo's picture

The crime wave that hits New York over the coming years is going to make all those "up and coming" neighborhoods look not so "up and coming".

I like to remind all those people who think "real estate always goes up", that much of Brooklyn real estate peaked in the 1920's and collapsed until the mid 1990's. 

Think it can't happen again?  Here comes crime, bitches.   First there are a few murders.  Then a few more.  Then a few families with kids move away, leaving older people to stick it out.  Then a couple homes divide into multi-unit dwellings.   Then SRO's.   And then it's over for another 3 generations.  

'Just like last time.

Wed, 03/06/2013 - 06:48 | 3304114 Bicycle Repairman
Bicycle Repairman's picture

Won't "somebody" need to mix in a little heroin?

Wed, 03/06/2013 - 19:35 | 3306683 Half_A_Billion_...
Half_A_Billion_Hollow_Points's picture

After the banks fail New Detroit City will be fucked

Wed, 03/06/2013 - 09:24 | 3304297 smlbizman
smlbizman's picture


i instantly thought bloomberg downed  you. but after considering he would have to get a step stool to put phone books on the chair, than climb the chair and get on top of books just to see the keyboard........

Tue, 03/05/2013 - 23:57 | 3303677 Freewheelin Franklin
Freewheelin Franklin's picture

"Unintended consequences"

Wed, 03/06/2013 - 00:48 | 3303786 Laser Shark
Wed, 03/06/2013 - 01:15 | 3303815 prains
prains's picture

They have homes in NYC ??? I thought everybody had an 8x8 brick box and 600 ft of fire escape

Tue, 03/05/2013 - 23:27 | 3303597 sun tzu
sun tzu's picture

green shoots 3.0

Tue, 03/05/2013 - 23:55 | 3303669 Caviar Emptor
Caviar Emptor's picture

Yup. A green shoots do over

Wed, 03/06/2013 - 06:33 | 3304098 mt paul
mt paul's picture

homeless ate all

the green shoots

Wed, 03/06/2013 - 08:59 | 3304257 _ConanTheLibert...
_ConanTheLibertarian_'s picture

you mean biochemical war?

Wed, 03/06/2013 - 09:10 | 3304275 CheapBastard
CheapBastard's picture

"Homelessness on the rise..." makes sense. After all, they call it the "jobless recovery."

Wed, 03/06/2013 - 00:06 | 3303707 TotalCarp
TotalCarp's picture

Time for FEMA "hope & change" camps?

Wed, 03/06/2013 - 07:19 | 3304136 GlobalCtzn
GlobalCtzn's picture

To be soon followed by the propaganda videos of cherub faced little girls at their Daddy'd side thanking the Government for taking them to the camp where it is warm and has lots of food. Americans will be filled with warm feelings and a sense of doing the 'right' thing. It will almost look like a Norman Rockwell Christmas card........................

Wed, 03/06/2013 - 12:50 | 3305120 ZeroPoint
ZeroPoint's picture

Exactly. The sheeple won't fear the camps. They will busting through the gates to get in.

Wed, 03/06/2013 - 10:45 | 3304571 Richardk888
Richardk888's picture

The homeless should really consider pulling their money out of treasuries and investing in the stock market...thats where the smart money is

Tue, 03/05/2013 - 23:18 | 3303568 Temporalist
Temporalist's picture

This is clearly bullish for housing and rental properties in NY.  DOW should double to 28000 tomorrow.

Tue, 03/05/2013 - 23:19 | 3303571 reader2010
reader2010's picture

The Greater Depression?

Wed, 03/06/2013 - 02:08 | 3303888 WTFUD
WTFUD's picture

The lesser spotted Depression!

Tue, 03/05/2013 - 23:21 | 3303576 TBT or not TBT
TBT or not TBT's picture

You mean the "best" no?     The curve goes up as it goes right, and that's what you want.

Tue, 03/05/2013 - 23:23 | 3303582 azzhatter
azzhatter's picture

all this good news. why is dow only 14000

Wed, 03/06/2013 - 05:55 | 3304069 jeebus
jeebus's picture

Need to print $170 billion a month.

Wed, 03/06/2013 - 06:34 | 3304099 mt paul
mt paul's picture

i spend that much on cigars

and boat ballast ...

Tue, 03/05/2013 - 23:29 | 3303590 Dr. Engali
Dr. Engali's picture

Were the allowed to have salt or big gulps in the shelters?

Tue, 03/05/2013 - 23:31 | 3303606 Temporalist
Temporalist's picture

No salt and most definitely not bagels or soup.  Must strictly control their diets.  Control.  Control...must control... 

Tue, 03/05/2013 - 23:35 | 3303620 fonzannoon
fonzannoon's picture

One of my tech buddies told me the plan is to use the homeless for their energy. He said in a few years I can plug my cell phone into a homeless guy while I grab a coffee and comment on here. I used to think he was kidding.

Tue, 03/05/2013 - 23:42 | 3303643 Dr. Engali
Dr. Engali's picture

Bloody hell.....Is there any escaping the matrix?

Wed, 03/06/2013 - 06:53 | 3304120 Go Tribe
Go Tribe's picture

You can render them harmless by removing their arms and jaws.

Sat, 03/09/2013 - 14:49 | 3315221 1000 splendid suns
1000 splendid suns's picture

Pedal those bike generators you useless eaters!

Tue, 03/05/2013 - 23:26 | 3303592 NoWayJose
NoWayJose's picture

Given the level of taxation in New York City, I am surprised it is not even higher. I also find it difficult to believe that in a liberal bastion like NYC there are not plenty of freebies for anyone who does not choose to be homeless by choice.

Tue, 03/05/2013 - 23:39 | 3303615 A Lunatic
A Lunatic's picture

Hey June, what say you and me, we's just go live on the fucking filthy streets of NYC and free range a bit, kind of like animals. Oh Bill! Really! I thought you'd never ask; I'm just sick to death of the comfort and safety of having a roof over our heads........

Wed, 03/06/2013 - 00:14 | 3303729 NoWayJose
NoWayJose's picture

You must not know of all the NYC programs for emergency assistance, subsidized housing, food stamps, general assistance, welfare, etc, etc, etc - many of which are duplicated and provide little more than salaries for the administrators of all the different overlapping programs. You have to work really hard to NOT collect these.

Wed, 03/06/2013 - 14:18 | 3305384 Panafrican Funk...
Panafrican Funktron Robot's picture

Yet, here they are, with 50K+ homeless, even with administrators practically begging them to join the free shit army.  The thing is, generally the best path to getting maximum liquor/drugs while still having a place to sleep at night (if you feel like it) is to get the homeless freebies staying in a shelter (which is technically considered homeless, even if you go to the same shelter every night for years), and barter/beg for cash for said booze/drugs.  That's the actual fucking problem, and it's no surprise that New York City, which is about as high stress/unnatural a lifestyle as you can get (I would lump most major cities in here, but NYC seems to be a special level of mindfucking personal insecurity), is continuing to binge on recreational drugs.  

Tue, 03/05/2013 - 23:28 | 3303599 Uber Vandal
Uber Vandal's picture

This almost reminds me of Zimbabwe's record setting stock market, yet they had nearly 95% unemployment.



Wed, 03/06/2013 - 00:32 | 3303761 lolmao500
lolmao500's picture

Yep, the zombies don't understand that the stock market is NOMINAL BULLSHIT, not reflecting the TRUE STATE OF THE ECONOMY.

Wed, 03/06/2013 - 03:41 | 3303990 icanhasbailout
icanhasbailout's picture

to me the stock market is more an indicator of the real rate of inflation

Tue, 03/05/2013 - 23:31 | 3303600 LongSoupLine
LongSoupLine's picture

What the fuck... Don't all those fucking NYC homeless know we just fucking broke a fucking Dow record. Can't they fucking feel the hot dick up their ass fucking "wealth effect"?  Just give them all fucking "Dow Record" ball caps to wear with the cock eating fucking pricks on wall street to make them fucking feel better.



fuck you bernanke, you fucking complete fucking asshole.  fucking die painfully you prick.

Tue, 03/05/2013 - 23:56 | 3303674 kliguy38
kliguy38's picture

Maria Bartiroma wants some of the "wealth effect" up her ass after schlepping with that weasle Kiernan all day at CNBS

Tue, 03/05/2013 - 23:59 | 3303679 Caviar Emptor
Caviar Emptor's picture

It's all gonna trickle down Bloomberg's dickle and the homeless will get rich.
Trickle ma nizzle

Tue, 03/05/2013 - 23:30 | 3303604 percolator
percolator's picture

Way to go Bernanke!

Tue, 03/05/2013 - 23:32 | 3303610 GMadScientist
GMadScientist's picture

Sorry...if you can afford tatoos, you don't need my help.

Tue, 03/05/2013 - 23:35 | 3303621 Temporalist
Temporalist's picture

Tattoos are free in jail

Wed, 03/06/2013 - 06:40 | 3304106 enloe creek
enloe creek's picture

no they are not free they are bartered

Wed, 03/06/2013 - 06:29 | 3304093 Bangin7GramRocks
Bangin7GramRocks's picture

What a douche! A person gets a tattoo that lasts a lifetime and then sometime after hits a rough patch of unemoyment that leads to homelessness. Stop being so fucking heartless. Homelessness is horrible and scary. I hope it never happens to you!

Wed, 03/06/2013 - 10:08 | 3304453 GMadScientist
GMadScientist's picture

a) It has happened to me (well, to my parents, but it's not like I got to live indoors while they didn't); my long-haired hippie dad joined the airforce to take care of us.

b) You don't pass street urchins with nose piercings their momma bought em as often as I do.

c) Is giving them $0.63 in change really going to help them with their situation?



Do NOT follow this link or you will be banned from the site!