California could eliminate homelessness by 2035 — if it’s willing to spend $8.1 billion a year for the next dozen years, according to a first-of-its kind report that highlights the yawning gap between what the state is contributing to the crisis and what it needs.
At the rate they are going now, the state and federal governments are expected to spend an average of $1.2 billion a year — leaving a hole of $6.9 billion, according to the new report by the Corporation for Supportive Housing and the California Housing Partnership.
While that seems like a daunting number, it’s just 2.5% of the state’s annual budget.