Bay Area to end homelessness with investment of $11.8 billion

The Bay Area could finally put an end to its homelessness problem with an $11.8 billion investment, stated a report released on Thursday by the Bay Area Council, a business advocacy group.

The report talks about a one-time investment adding to $9.3 billion and $2.5 billion in annual investments. Writers of the report claimed that the money could be collected from local, regional, and state sources, including a voter-approved method that raises $10 billion.

Distressing statistics on homelessness in the region state that 73 percent of the homeless population doesn’t have a shelter, the highest rate in the country.

Also, the increase in homelessness in the area has led to 30 percent of total increase in homelessness in the country since 2017.

Since 2010, the Bay Area’s homeless population has increased four times faster than the area’s population.

Oakland Mayor Libby Schaaf, Vice chair of the Bay Area Council’s Economic Institute, who wrote the report said, “They (homeless people) are our neighbors.”