💸💪🏾Moneda Moves (19): The luxury of being home for the holidays🏠
Buen día, mi gente. 🎁Holiday season is in full effect, and during this time of year "home" takes on an especially significant meaning for many. Those who are lucky get to come together with their communities, families or close friends.
(GIPHY, Walter Mercado)
Others who are less fortunate however, may not have a place to greet their loved ones or to call home at all. 🏠In 2017, more than 553,000 Americans were homeless. The leading cities with the highest rates of homelessness? New York City and Los Angeles, where Latinx also make up at least 30% of the population that is homeless.
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Today's Moneda Moves highlights the housing issues and affordability when it comes to basic living expenses in the U.S.
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Con poder✊🏽,
Lyanne
In Puerto Rico, FEMA is spending more than $1 billion on emergency repairs🇵🇷: There's just one glaring issue -- what they're paying for is grossly overpriced. In essence, more than 60% of FEMA's spend on the finance repair program is going into the pockets of contractors who are charging big markups and overhead, per Frances Robles' report for The New York Times. Imagine being a homeowner who was approved for tens of thousands of dollars in aid, only to find that less than half of that amount actually went towards fixing the home. This piece is a must-read.
The fires that destroyed 19,000 homes and businesses💼: In California, insurance claims and the cost of cleanup is expected to surpass the cost of years' past. The insurance industry alone will likely shell out $11.8 billion to fire victims in Northern California. Three wildfires alone have decimated 19,000 businesses and homes. Cleaning up debris will cost $3 billion. Reminder: Latinx make up nearly 40% of the population in California. This one is reported by the Associated Press.
Los Angeles -- where homelessness has shot up almost 50% 🏴: Homelessness in LA has gone from from roughly 36,000 in 2012 to 53,000 in 2018. Of those who are without a home, the majority live on the streets in make-shift encampments. On the streets, they are subject to the city's clean streets initiatives which enables police to search through and confiscate what otherwise would be personal property.
Former HUD Chief Julian Castro announces potential presidential run in 2020🗳: Under President Obama's administration, he was name chief of the U.S. Department of Housing and Urban Development. Now, Julian Castro announced he will be forming an exploratory committee -- usually a formality before a candidate in fact chooses to launch a presidential campaign. Castro will reveal a financial decision on January 12. This particular story comes from Patrick Svitek at the Texas Tribune.
Interested in learning more about where the U.S. stands on homelessness and what areas are at risk for increase in homelessness? Zillow Group put out an interesting research paper I'd recommend check out here.
That's all for this notita. Follow us into the new year for more from our Twitter and Instagram accounts.