Homeless Initiative

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A new coalition is promising to spend 37 (m) million dollars to create living spaces for tens of thousands of homeless people.

Deutsche Bank, Fannie Mae and several charities hope to create 150-thousand new housing units over the next ten years.

The Partnership to End Long-Term Homelessness estimates that about a-quarter (m) million Americans are chronically homeless.

An official at a group that will get some of the money says it raises hopes that by Thanksgiving 2014 the "poorest, most vulnerable citizens" will have decent homes.

The partnership says it hopes the effort spawns more donations and boosts the interest of public officials.

A report released today says supportive housing can save cities money.

The Lewin Group's report says a day in supportive housing in New
York costs roughly 31 dollars. That's less than a-fifth the cost of a day in jail.