Dear Obama, How Does A 60% Increase In NYC Homelessness Constitute A Recovery?

Tyler Durden's picture

Last week, we wrote a post entitled "Harvard Crushes The "Obama Recovery" Farce With 9 Simple Charts" in which we reviewed a report from Harvard Business School on the true health of the U.S. economy.  Given the title, it's probably not terribly surprising that Harvard was somewhat "underwhelmed" with the Obama recovery after taking a multi-decade look at various economic metrics like labor force participation rates, new business formation, productivity and real household income. 

Now, courtesy of data from the New York City Department of Homeless Services, we have a couple of additional charts to add to the list like the one below that shows a ~60% increase in the number of NYC families living in homeless shelters over the past five years.  Aside from an increse during the "great recession", the number of New York City families living in homeless shelter remained fairly constant at around 8,000 from July 2008 through July 2011.  That said, over the following 5 years beginning in August 2011 through today, NYC has experienced a nearly 60% increase in the number of families living in homeless shelters to nearly 13,000. 

Ironically, the increase in homelessness experienced during the "great recession" was just a blip on the radar compared to the past five years as residential rental rates in NYC have soared.  

NYC Homeless

 

Alternatively, we offer up the following statistics from Mayor Bill De Blasio's Fiscal 2016 "Mayor's Management Report" highlighting a 42% increase in applications for "Emergency Rent Assistance" from New York City families at risk of losing their housing. 

Rent Assistance

 

If this is what a "recovery" looks like to Obama we would certainly like to better understand how he would define a recession.

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loveyajimbo's picture

Hey, don't give all the cred to Lord Obongo... save some for that asshole DeBlasio.

Shemp 4 Victory's picture

They are all green shoots in the Goldilocks economic recovery.

Disagree and you'll disappear in the night...

knukles's picture

Vast Right Wing Conspiracy

(flu season)
(that or mycibacterium smegmatis)                     

wee-weed up's picture

 

 

The tragedy is that the MSM won't (have never) asked him that.

Hucksters all!

oops's picture

Obama has a disastrous legacy compared to few accomplishments.
https://goo.gl/7vUdsL

cheka's picture

how to be homeless:  check a box on a form (while being coached to)

if you can pull that off you will be showered with max welare from every direction

THAT is your homeless increase in a nutshell

Buster Cherry's picture

I have fantasies about using George Stephanopoulos for midget bowling.

TeamDepends's picture

Your home is Utopia comrade, what for you need four walls and a roof?

VD's picture

let's break this out and touch upon Samantha Power, Cass Sunstein, Soros, Saul Alinsky and the Weather Underground so we can better appreciate the Marxist violence and destruction Obama is perpetuating:

 

https://romanticpoet.wordpress.com/tag/samantha-powers-cass-sunstein-rad...

 

the Obama admin and Hitlery are here to destroy the last vestiges of freedom and fully dismantle the constitution -- they must be stopped.

 

http://canadafreepress.com/article/the-missiles-of-october-2015-edition

 

 

TeamDepends's picture

What gives us hope is that these (struggles for words) losers, these reprobates, these psychopaths, these..........these COMMBIES (there it is!) have utterly failed at disarming us. Sure, Obongodinga is going to sign some UN piece of twaddle document that they will claim gives them the right to go door to door..... Bring it! The time is now. We are the ones we are waiting for.
May Your aim be true
And God with you

GUS100CORRINA's picture

In GOD we TRUST ... everyone else has to bring data.

The data for Obama's recovery narative is very ugly and unbecoming the office of the president. While homelessness is a problem, let's take a look at Americas's other accomplishments under the despot with a reprobate mind who lives in the WH.

1.) Student Loan Debt - 1.3 Trillion heading towards 2 Trillion.

2.) America's debt - UP over 100% in 8 years,

3.) America's unfunded liabilities - 150 Trillion plus and climbing rapidly

4.) Corporate Debt - Up over 100% in 8 years.

5.) Bank Derivative Expsosure - Up over 300% in 8 years.

6.) Crime and Violence - Out of Control (Billions in Lost Property, Lives)

7.) America's foreign policy - America now pays ransom to terrorist states like Iran (1,700,000,000)

8.) State and Municiple Pension Shortfall - 6 Trillion plus

9.) Fed Balance Sheet - At 4.5 Trillion - Up Over 400% in 8 years

10.) US Government Cannot Account for 6.5 Trillion in its books.

 

Well done Mr. Preseident ... Well done!!!

WE ARE ON THE TITANIC AND WE HAVE HIT THE ICEBERG and everyone is more interested in straightening up the deck chairs and amuzing themselves to death!!!

Anyone up for a Sunday football party to celebrate America's accompishments???

If you really want to upset people and cause riots of epic proportions, just tell Americans that football, basketball, etc are suspended permanently until we have a balanced fiscal budget. THE LIST ABOVE AIN'T GOING AWAY ANYTIME SOON AND WILL BECOME AMERICA'S NEMESIS.

 

 

newbie vampire's picture

"THE LIST ABOVE AIN'T GOING AWAY ANYTIME SOON AND WILL BECOME AMERICA'S NEMESIS."

You guys are a hard lot to please.

Thats called GROWTH !!!

I suppose if unemployment keeps rising, you'd still be complaining.

 

Regards from your Exceptional Putang Ina Mo President

 

venturen's picture

but no one from Wall Street or Hillary or Obama's criminal gang have gone to jail... You have that going for you

khakuda's picture

Housing prices and rents in the New York City Metropolitan area have gotten so out of control expensive that I may be homeless soon, too. On top of that, the jobs in financial services companies that supported the local economy are rapidly disappearing as eight years of 0% interest crush their business models.

Thanks a lot Ben Bernanke and Janet Yellen, you pricks. Keep up the good work you jackasses and continue patting yourself on the back for such great work.

uhland62's picture

I'd call it 'they vegetate'. Being alive is not enough. 

They keep telling us here in Autsralia that the US economy has recovered, and why they like to tune into that propaganda, is bizarre.

Doom Porn Star's picture

The banks are accelerating the unwind of their non-performing mortgage portfolio in the NYC metro region.

New York and New Jersey forclosures are rising YOY and homelessness with it.

The dispossessed have no where to go.  

Millions will be displaced as the NYC metro NPLs are finally flushed out.

 

WHY the hell would Zillow lie and publish mind numbing statistics such as highlighting an entire Newark New Jersey zip code with an absolutely disasterous 43% mortgage delinquency rate??!

http://www.zillow.com/visuals/negative-equity/#10/40.7649/-74.0108

 

The whole NE is quietly going through a mass displacement and bankruptcy crisis.

This is a bone fide humanitarian disaster festering and worsening right in the heart of the first world, in the exceptional nation; centered in some of the highest taxed and highest valued collateralized real estate in North America..  And it is being totally ignored by the Obama Administration, Congress, the state and local governments, etc., etc., etc...

Without the EBT cards, welfare, ACA, etc.: it would look like the exodus from war-torn Syria.

Here.  

Right here.

We are in a motherfucking DEPRESSION.

Here.

Right here, right now.

williambanzai7's picture

A Legacy of ass fucking

koan's picture

We have to have someone checking all the dumpsters for FBI "terrorist" bombs.

williambanzai7's picture

You know how many elderly homeowners are subsisting because they can barely afford the fiat inflated property taxes.

uhland62's picture

That happens when you think it's more important to spend your money on regime change in the ME and preparing the fight against Putin.

cherry picker's picture

I think it is a fucking travesty that .gov wants to steal money from a person after they are beyond retirement age.

I owned property in Canada.  I was about $700 in arrears on taxes and it was 12 months past due on acerage including my prinary residence which I later sold for $225 K.

I went to the municipality and told them I would pay them in two weeks and they said it was OK.  The next day I got a notice that it was going to be processed for a tax sale.

A $200+ grand property they were going to steal for $700.

I am going off the grid and out of town.  The government can do what it likes as long as they leave me alone.

Buster Cherry's picture

You should retaliate by fucking up some Canadian government property.

Rock salt and electrical equipment don't mix well, especially when it rains.

Chumly's picture

Dear Obama,

Go fuck yourself.

Sincerely,

Chumly

ebworthen's picture

It dingaly-daginly don't, unless you're peddling fiction!

Ride the rail back to HELL you came in on Obama!

Satan involved here, do you not feel it?

TheRideNeverEnds's picture

No but the 330% rise in the 'market' does.

Unless you had listened to the idiots posting articles here peddling fiction in which case you missed it or went bankrupt shorting it.

onmail1's picture

It is progress ;-)

for AddictHomObamma

because more ppl become addicts & homos

the kind & type he belongs  to

Hah ha

yogibear's picture

Obama just piles the lies deeper.

Big Cox's picture

Higher S&P500 = Everything is awesome!

BabaLooey's picture

Soetero could give a shit.

He NEVER HAS given a shit.

If the fuck had an original thought, it was wiped clean decades ago by the C.I.A.

JailBanksters's picture

In NY isn't homeless just another word for deadbeat, loser, banker, trader that lost

 

 

East Indian's picture

You are peddling fiction. Love for the great outdoor has gone up among the New Yorkers; they want to enjoy the clean air and starry sky that are the result of successful attempts of the Government to eliminate pollution in New York by outsourcing all the jobs to China. Unlike in the past, the New Yorkers now enjoy more hours of leisure as Chinese are toiling in their place. Their love of nature has lured them into abandoning their homes behind. Following the great Himalayan yogis they have given up their earthly possessions too. Following Jesus they want nothing to do with moneylenders too. And you are giving it a nasty political twist. Damn you, and damn your lies.

Dont blame the moneylenders. They are looking after all these abandoned homes.

Buster Cherry's picture

No tears to shed for these Obama voters.

 

papaswamp's picture

Its everywhere. I volunteer with an organization that tries to prevent people from Becoming homeless. Our area is a rather well to do area, so maybe a few cases a year. Last 3 months # of cases is on par with 2 yrs worth of cases. From the outside you would never know the dire straights people are in. Inside, homes a bare, people are going to food banks for food, behind in utilities and of course mortgages or rent. In some cases we are only able to delay the inevitable. Most people have either been forced to take a lower paying jobs or the expnses have risen so dramatically that they simply fall behind. These are mostly the 'near poor/poverty' level folks. Make too much to qualify for most benefits, but not enough to keep head above the water.

monad's picture

Some are good for fighting, others for dying.