> A recent study in Vancouver found that one of the most significant single causes of homelessness (20%) was people simply running out of money and being evicted. The direct cause of this is high rents. So any city that is building more housing in general, and not demolishing existing affordable rental is going to be doing a better job in this category at reducing homelessness.

Affordability isn’t simply a function of supply in a market but the wealth distribution of market participants. When wealth is concentrated, housing ownership is concentrated in the hands of rentier capital, which is precisely what determines the amount of financial outflows from the poor to the wealthy in the form of housing prices (rent and mortgages).