Recent trends in Santa Clara County indicate a worsening housing crisis driven by economic volatility, rising rents, and the end of pandemic-era protections. Over 4,000 households experienced homelessness for the first time in 2024, and the rate of new homelessness has nearly doubled compared to those finding housing. Inflation has increased consumer prices significantly since 2020, exacerbating the situation. Coupled with declining state and federal funding for affordable housing, the region faces a critical need for sustained local support to prevent further economic downturns leading to widespread homelessness.
The stock market's recent volatility and looming recession in Santa Clara County reflect a deepening crisis, threatening to push thousands of families into homelessness.
Inflation has driven up the cost of essentials, increasing consumer prices by 21% since February 2020, making housing less affordable for many.
The end of pandemic-era protections has left vulnerable families exposed, with rising rents and dwindling financial support contributing to a growing housing crisis.
The potential recession could lead to job losses, turning missed paychecks into a gateway to housing insecurity for many families.
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