Increased Homelessness and Low Rent Housing Vacancy Rates |
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Institution: | Department of Economics, Columbia University, New York, New York, 10027 |
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Abstract: | This article addresses the timely issue of the relationship between rates of homelessness and housing market conditions. Several studies using cross-sectional data have found evidence that tighter housing market conditions contribute to higher rates of homelessness. This study employs both time series and cross-sectional American Housing Survey data to demonstrate that higher rates of homelessness are positively related to tighter lower-end housing market conditions. This finding is consistent with O'Flaherty's economic model of homelessness and contrary to Jencks' American Housing Survey-based conclusion that no such relationship exists. |
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