Did you know? Data from the National Association of Home Builders/Wells Fargo Housing Opportunity Index has found that the median home price has risen 30% over the past decade, doubling the average rise in American income nationwide. This, coupled with rising inflation, is wreaking havoc in communities, raising one’s chance of experiencing homelessness in Raleigh, NC.
With this in mind, we want to call on the community to take the first step in finding a solution to homelessness: Beginning and continuing the conversation surrounding this crisis. Here’s what you need to know about housing price mismatch, a major contributing factor to homelessness in Chapel Hill, NC (and surrounding areas).
Census data indicates that income has increased just 15% in the last 50 years.
We know that this doesn’t sound like a lot, and that’s because it isn’t. Calculating the tremendous rises in inflation, subsequent pricing, and one’s cost of living combined with unexpected “life” expenses can feel insurmountable.
Understanding this mismatch is one of the first steps to creating a more empathetic and equitable environment.
The incoming generation may need help to secure a home.
Millennial and Generation Z members might experience hardship when it comes to purchasing their first (or next) homes. The incoming generations only own approximately 75 cents of every $1 earned by Generation X members when they were that age indicating a paradigm shift in lifestyles, inflation, and daily living.
Education may play a role in wealth, property ownership, and success.
The Federal Reserve Bank of St. Louis has found that families with a high school diploma or less likely hold 10-24 cents of value for every $1 held by families that are educated through their bachelor’s degree.
While this is a striking inequity, it calls attention to the role that societal experiences and imperatives can play in one’s ability to own a home and protect their family’s interests. Working to find a solution to homelessness is in everyone’s interest and should be conducted by people from all walks of life for the fairest and most equitable solution.
CASA — Finding A Solution To Homelessness in Chapel Hill, NC
Collaboration makes us stronger. At CASA, we’re proud to facilitate community support for those experiencing homelessness in Raleigh, NC, and the surrounding areas. Join us as we work to find a solution to homelessness that can impact our local communities, state, and nation as a whole. Connect with us today to learn more.