What is significant?

In terms of houses, like if you're taking out a mortgage, 10% is huge, but if you're renting, which is specifically what Warren talks about in that article, it can be miniscule.

You don’t live in the Bay Area

mortgages only work for middle class buying housing and such, while rent helps everyone who rent

Or on either coast

Like it sounds big yearly, but when you contextualize that you pay monthly or bimonthly, you're unlikely to notice unless you're paying over a thousand dollars in rent, which low to middle income people aren't doing on the regular.

That’s just not accurate

yeah, cities have higher cost than 800

I live in Atlanta

There's not housing for less than 1000 downtown

But like

Nobody doing what I do for work lives downtown.

mamma mia

here we go again

We’re talking about the Bay Area and NYC

We’re talking about the Bay Area and NYC

My rent is $2000

Sure if you live in like San Francisco or NYC, 10% on your rent as a low-to-middle income person is pretty substantial, but outside of areas NYC, San Francisco, LA, and maybe DC, like in the rest of the country, for renters it's negligible

Right, but that’s where the homeless problem is the greatest

Homeless people

have no income

Decreasing rent

won't help them

Or they have an income so low that they can't afford rent, and a 10% reduction won't get them into an apartment building.

Homelessness happen in high rent cities, a 10% reduction helps people not get evicted

Approaching a solution to homelessness through the lens of the marketplace is usually going to be ineffective. Countries which have near non-existent homeless populations employ Housing First and get them in homes without asking for rent.

@3v6en8 Yeah like I said it'll help people dealing with gentrification, but it's not going to do anything if you're homeless

Again that’s not accurate

Alleviating the housing market in the aggregate helps homelessness

More homes = lower cost

What does a 10% reduction to rent do for someone on Skid Row?

GG @fuck12moredeadcops, you just advanced to level 2!

Well, if they were kicked out of their house because they couldn’t afford rent, it lets them move back into their house

So they’re no longer homeless

Okay, if your rent goes up, and you can't afford it, and you decide to stay anyway with no plan to relocate yourself and that caused your homelessness, yeah it'll help you

Honestly for skid row, its needs low income jobs and low income housing

...no

So remember that’s 76% of people

But the market moves as a whole

If someone higher up has a rent reduction, it allows them to upgrade

Making room for someone lower on the chain and so on