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Friday, April 3, 2009

While vacancy rates soar, lack of affordable housing spurs upsurge in squatting


Rising unemployment is forcing people out of their houses and into illegal squats. Squatting—or unlawfully occupying property that belongs to someone else—is a reflection of both a market failure and the absence of an effective government response to enable poor people to find housing. Between 2007 and 2008, the number of families showing up at homeless shelters in New York City increased by 40 percent, while housing vacancy rates are at all-time highs. According to the Census Bureau, 19 million homes were vacant in the last quarter of 2008.

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