DS News - Bank of America

10 VETERAN HOMELESSNESS REDUCED BY HALF e number of veterans experiencing homelessness in the United States has been cut almost in half since 2010, according to a recent report from e U.S. Department of Housing and Urban Development (HUD), the U.S. Department of Veterans Affairs (VA), and the U.S. Interagency Council on Homelessness (USICH). e report states that there was a 17 percent decrease in veteran homelessness between January 2015 and January 2016 which was quadruple the previous year's annual decline. With this data is was also shown to be a 47 percent decrease since 2010. With HUD's annual Point-in-Time (PIT) estimate of America's homeless population, the report notes that communities across the country reported that less than 40,000 veterans were experiencing homelessness on a given night based off of data from January 2016. is estimate found just over 13,000 unsheltered homeless veterans living on the streets, making it a 56 percent decrease since 2010. "We have an absolute duty to ensure those who've worn our nation's uniform have a place to call home," said HUD Secretary Julián Castro. "While we've made remarkable progress toward ending veteran homelessness, we still have work to do to make certain we answer the call of our veterans just as they answered the call of our nation." is progress is attributed by the report to be a result of the partnership among HUD, the VA, USICH, and other federal, state and local partners. ey share that the partnerships were sparked by the 2010 launch of Opening Doors, a plan to prevent and end homelessness. Additionally, the initiative's success among veterans can also be attributed to the effectiveness of the HUD-VA Supportive Housing (HUD- VASH) Program, which according to the report, combines HUD rental assistance with case management and clinical services provided by the VA. It has been shown that since 2008, more than 85,000 vouchers have been given and more than 114,000 homeless veterans have been served through the HUD-VASH program. "e dramatic decline in veteran homelessness reflects the power of partnerships in solving complex national problems on behalf of those who have served our nation," said VA Secretary Robert A. McDonald. "e men and women who have fought for this nation should not have to fight to keep a roof over their head and I'm pleased that VA is serving more veterans than ever before with heath care, education, job training, and wraparound supportive services. While this is very real progress that means tens of thousands more veterans have a place to call home, we will not rest until every veteran in need is permanently housed." e report says that since 2010, more than 360,000 veterans and their families have been permanently housed, rapidly rehoused or prevented from becoming homeless through programs administered by HUD and the VA. THE NEW "UNDERWATER" HOME In a recent report from Zillow, according to climate scientists, if sea levels rise as much as predicted by the year 2100, almost 300 U.S. cities could potentially lose at least half their homes, as well as 36 U.S. cities could be completely lost. If this situation takes place based on Zillow's calculations, it may turn out that actual water poses almost as much of a problem for the housing market in the future as negative equity has in the past. e report also notes that with these predictions, it's possible that one in eight Florida homes could be underwater which would account for nearly half of the lost housing value nationwide. Zillow says that typically when discussing "underwater homes" it is in reference to homes with negative equity, put it is seemingly possible in their opinion that this term could be used in the future in a more literal sense referring to millions of homes worth hundreds of billions of dollars being inundated. Currently, the median value of a home under risk of being underwater is $296,296 compared to the average home sitting at $187,000. e reports states that, based off of their calculations, it may turn out that actual water poses almost as much of a problem for the housing market in the future as negative equity has in the past. Zillow quantifies the impact of rising sea levels by using maps released by the National Oceanic and Atmospheric Administration (NOAA) to show which parts of costal states will be underwater if sea levels rise by six feet. ey use six feet due to estimates that suggest sea levels will rise to that height by the year 2100 if climate change continues on its projected levels. is data from Zillow used in conjunction with their database of information on homes nationwide, added them in determining which properties were at risk of being submerged to at least their ground floors in the next century along with what they're worth as of now. e report cites almost 1.9 million homes or roughly 2 percent of all U.S. homes worth a combined $882 billion are at risk of being underwater by 2100. e properties potentially affected in Florida are expected to be worth more than $400 billion in current housing value. In comparison to the statistic of 1 in 8 homes being at risk in Florida, it was also found that in Hawaii almost 1 in 10 homes are at risk. Zillow shares that given the risk that Florida and Hawaii face, Miami and Honolulu likewise top the list of large cities with a significant number of properties at risk from rising sea levels. Additionally, more than 1 in 6 Boston homes are at risk, as well as almost 3 percent of homes in New York City if sea levels rise in line with climatologists' predictions. Zillow makes a point to note that the year 2100 is a long way off, and it's certainly possible that communities, take steps to mitigate these risks. Either way, Zillow says that if left unchecked, the threats posed by climate change and rising sea levels have the potential to destroy housing values on an enormous scale.

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