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“Homeless Explosion”: Tech Boom, Surging Rents Creating Homeless Crisis On America’s West Coast

“Homeless Explosion”: Tech Boom, Surging Rents Creating Homeless Crisis On America’s West Coast

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zerohedge.com / by Tyler Durden / Nov 6, 2017

America’s liberal left coast states count themselves among the most adamant supporters of controversial pieces of legislation intended to support low-income families.  From their stunningly high income tax rates to their $15 minimum wage mandates, states like California and Washington are leading the charge on implementing Bernie’s socialist agenda.

Of course, some of the biggest advocates of that socialist agenda are the billionaire leaders of Silicon Valley’s largest tech companies…which is precisely why it’s so ironic that it’s the “tech boom” being enjoyed by those billionaires that has resulted in surging housing prices and what SFGate described earlier today as a “homeless explosion pushing West Coast cities to the brink.”
Housing prices are soaring here thanks to the tech industry, but the boom comes with a consequence: A surge in homelessness marked by 400 unauthorized tent camps in parks, under bridges, on freeway medians and along busy sidewalks. The liberal city is trying to figure out what to do.

“I’ve got economically zero unemployment in my city, and I’ve got thousands of homeless people that actually are working and just can’t afford housing,” said Seattle City Councilman Mike O’Brien. “There’s nowhere for these folks to move to.”
READ MORE: http://www.zerohedge.com/news/2017-11-0 ... as-west-co