Ask Prof Wolff: Affordable Housing and Homelessness

A Patron of Economic Update asks: "Hi Professor, I was wondering if you could comment on an item popping up in numerous cities. The use of outdoor spaces where the city sanctions tent living and calling it a solution to the homeless issues in this country. I’m curious about your thoughts on these solutions and the underlying issue."

This is Professor Richard Wolff's video response.

_________________________________________________________________________

“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”

_________________________________________________________________________
Follow Wolff ONLINE:

[mitragenius]

I’m living in my van in LA and I haven’t slept at a single spot yet where I’m not surrounded by others doing the same in cars, trucks, rvs, etc. It’s insane.

[patriciaanndemello]

50% of the homeless are the disabled and seniors on social security with an average of $800 a month. Where the hell are people suppose to find housing with that anount of income? We should be ashamed of ourselves as a society that we let the least of us suffer on our streets.

[automaton]

The federal government can spend fiat currency into existence. They don’t rely on taxes to fund things. They also don’t need to turn a profit in the production of something like housing. They could just build houses and sell them at a loss as a public service, creating jobs in the process.

[stuartsmith]

Dear Professor Wolff. You certainly have a challenging task. You are very focused in your message. You are similar to Sen. Bernard Sanders in that you can maintain the focus of your message as you endlessly repeat it ad nauseum. You’re like a broadway actor in that you keep it fresh and exciting every time you deliver this, what would seem to be, tired message. Different than Mr. Sanders you have many different avenues to follow to arrive at a central theme. It seems to me that you’ve spent years telling students, contemporaries, and ultimately the YouTube community that all roads lead to Rome and that Rome is where your resources are being held.
I commend you for your consistency, tenacity, and fortitude. Dr. West was correct in listing your accolades. I don’t wish to diminish Dr. West’s gravity in the field of social equity and his powerful effect on positive change for the soul of humanity, but this means little for your own journey that may run parallel to his but certainly Carrie’s its own weight for equity and justice for all humans. Those have-nots who have humility in droves can certainly lend some to the haves in exchange for increased opportunity to express dignity in their day to day lives.
I mean to say that I acknowledge how difficult it must be to see clear answers at the same time you maintain patience for your community.

[fixitbrewbaycustom]

First they need to start dealing with over population issues globally with Dr Fouci!

[TC-eoeb]

Joe Biden, Bernie Sander and Prof Wolff all sing the same song, tax big corporations. Lesson 101: Big corporations have a CEO, a board of directors, share holders and employees. A fortune 500 CEO earns a multi million dollar annual salary. The board of directors all receive a wage. Share holders of the company all earn a profit and obviously the employees earn a wage. The CEO is the last guy who is going to take a pay cut. The board of directors are certainly not going to take a pay cut. Share holders are not going to take a cut in profit and the employees certainly don't want a pay cut. So lets say Joe Biden and his gang slap a big new income tax on that big corporation "that doesn't pay their share of taxes". Where is the money going to come from to pay the new income tax? The CEO isn't going to take a pay cut, the board of directors aren't taking a pay cut, the share holders aren't going to take a cut in profit or they will move their money somewhere else. So, the CEO and the board of directors who answer to the share holders make a decision. Either cut the pay and benefits of the low level employees or pass the cost of their overhead onto the customer. The employees and the customers are the people who ultimately pay the new income tax. What is so difficult to understand about that scenario? Big businesses do not pay taxes, you the consumer will pay the tax with higher prices.

[carlospulpo]

For young people, it's like joining a game of Monopoly when its near the end of the game. The part where one player is dominating the board with hotels on every property...but the others press on in the hope they may luck into some pittenace .

Some a seeing the fact the game was "won" long ago and choose to step away and do something else.

[hud]

I've built houses over the years, the land and the developers account for about 75% of most housing cost. Land that was free 150 years ago, now takes most people their lifetime to pay for. Out here in California, great grand children are selling their grandparents free land for over $100k an acre in some places. Must be nice to never work and just sell land you got for free to get by. The boomer generation did that well, took things that their parents worked hard for and sold out.

[DonaldAJr]

I wish I had enough funds to help support this organization. I live paycheck to paycheck though and the worst part about it is I became paralyzed on the job. So for 23 years I have not had a paycheck increase with inflation or anything. The same exact amount of money I made then is the same amount of money I make today. Go figure.

[bjornbaron]

Soviets built apartments for its people that were free. There were no homeless in Soviet Union post WWII.

[denisekelley]

Finland is eradicating homelessness. These people are given a place to live, a job, and if they have substance abuse issues they are given rehabilitation. In the U.S. we could do the same. We could also remake sections 8 and 9 and charge people 20% of their income for an apartment. In Austria this is what is done, the affordable housing buildings are gorgeous apartment complexes with gyms and pools. Developers make so much money, I don't think it would hurt them to go into a few large projects in conjunction with local, state, federal governments to provide affordable housing.

[gertrudewest]

I have 6 years of college, two degree and am homeless. No mental illness. No health problems. No addictions whatsoever. I don’t drink, eat healthy, served my country, exercise daily and work a full time job and a part time job. My crime? I am a single child free working class female who was thrown out of work as a response to covid. The middle classes buy up homes and then want to rent them as vacation homes. This has hurt the rental market tremendously in my town, Tucson. Housing has gone through the roof and I don’t even qualify for a modest one bedroom apartment. So I am forced to camp out since my middle class friends want to rent out their spare homes on AirBNB. Sad

[KARW]

It also has to do with the U.S. militaristic stance and policies. That’s where the funds go, not to addressing societal or economic issues. This country’s taxpayers are still paying to defend Europe, militarily, since WWII. Look at it and see where the money trail leads.

[robertr.villagomez]

our political leadership are cowards. big ups mr. wolff for spreading this awareness. we all must do our part to push for progress and not let any of our siblings behind. power to the people

[bradypustridactylus]

The brutality of the prisons, the squalor imposed on the lower class, and the intentional blindness shown to the suffering of the homeless are there for a reason. Immiseration has its uses.

[suebrown]

🙏🏼TY for addressing this 😉....they can do something but won’t 🌻

[chamberofprogress]

The US could take a lesson from Finland 🇫🇮 and their Housing First program.

[linzierogers]

Professor Wolff is addressing an every man for himself, rugged individualism, pull yourself up by your bootstraps, Darwinian society. It is geared towards the individual and not the group. Many of those who suffer its injustices defend it, feeling they too can one day become wealthy. Sad to say it is what it is.

[itzenormous]

The most recent figure that I saw reported that there are, currently, 16 million empty houses in the United States.
16 million homes, sitting there, vacant ... with no one living in them.
Yet, we are being told that there is a housing shortage in this country?
We are told that in a 'market economy, ' when the supply excedes the demand, then prices are supposed to drop. Yet, housing prices are currently through the roof.
Meanwhile, housing developers, banks, real estate brokers and such are telling us that they need to build more housing in order to meet an increased demand.
But, we have 16 million vacant houses in this country already?
Contradictions!! Capitalism is riddle with contradictions!!

[emiebex]

We need Legislation that keeps Billionaires from buying up all these empty homes only to Price Gouge the rent, & create more Homeless people.