In San DiegoCounty there are nearly 9,000 homeless. As of 2013 San Diego has one of the highest homeless populations in the nation. There are a lot of reasons for this, most notably the decline of the housing market and the increase in foreclosures during the end of the last decade, the ensuing Great Recession that followed the housing market crash, and others of which everyone in the real estate and employment industry are aware. And then there are other reasons that this number is significant that has nothing to do with the current economic climate and everything to do with the actual climate: tropical temperature resulting in our mild winters and pleasant evenings, longer spring, summer, and autumn seasons which are all ideal to a homeless person. Another large contributor to the homeless population is the number of homeless veterans, some in need of medical and psychological assistance, and the slashing of federal government funds over the nation to adequately address their plight and needs.
In the real estate management business we understand that there is great potential in assisting our local homeless population – and the $127.5 million budget San DiegoCounty devotes to their cause. While they may not represent ideal tenants to most of our clients, they often qualify to receive aid from the nearly all levels of the government; aid including medical, food, housing, and sometimes even a direct cash benefit. Investing in low-income housing and apartments may not seem ideal or the highest net for dollars spent, it does create a constant stream of revenue and return for investors willing to assist and aid them.
But more importantly, tackling the problem head-on is one of the only real ways to address the issue. Homelessness plagues our county and country. Given that a large quantity of veterans are homeless only adds to the shame that the homeless epidemic brings to every citizen and member of our government. Always remember that there is more that we can be doing and that it is always a wise decision to invest not only in our own profits, but also in the health and welfare of our local communities.