There are more than five times as many vacant homes in the U.S. as there are homeless people, according to Amnesty International USA. Since 2007, banks have shuttered about 8 million American houses, almost doubling the previous number, while 3.5 million homeless shiver in the cold. Experts expect 8 million to 10 million more foreclosures in the years ahead.
In the last few days, the U.S. government census figures have revealed that 1 in 2 Americans have fallen into poverty or are struggling to live on low incomes. And we know that the financial hardships faced by our neighbors, colleagues, and others in our communities will be all the more acutely felt over the holiday season.
Along with poverty and low incomes, the foreclosure rate has created its own crisis situation as the number of families removed from their homes has skyrocketed.
Since 2007, banks have foreclosed around eight million homes. It is estimated that another eight to ten million homes will be foreclosed before the financial crisis is over. This approach to resolving one part of the financial crisis means many, many families are living without adequate and secure housing. In addition, approximately 3.5 millionpeople in the U.S. are homeless, many of them veterans. It is worth noting that, at the same time, there are 18.5 million vacant homes in the country.