Families are trapped in motels. Can real estate free them?
Homeless families in the Hudson Valley, like Valerie Russo and her children, are stuck in motels for years, benefiting real estate developers with long-term contracts.
Valerie Russo, a single mother of three, works two jobs from 7:30 a.m. to 8 p.m. at a shopping center in the Hudson Valley. However, despite her hard work, she and her children have been living in a motel room for the past two years, courtesy of Ulster County.
A recent story by the Albany Times Union shed light on the plight of homeless families in the Hudson Valley who have been stuck in motels for years. Russo's story is just one example of the many families who are trapped in this situation. In fact, Ulster County has contracts with 24 hotels and two shelters to provide "emergency" housing, but families end up staying for an average of over three years.
From a real estate perspective, these contracts are a lucrative source of income for developers. By locking in long-term contracts with the county, they are able to secure a steady stream of revenue without having to deal with the usual challenges of renting out apartments or homes.
While these contracts may be beneficial for developers, they do little to actually help families like Russo's who are stuck in these motels. Unfortunately, the situation is not unique to Ulster County. Homeless families across the country are facing similar challenges and are often at the mercy of real estate developers who are more concerned with their bottom line than providing affordable housing.
As Russo and her children continue to live in a motel room, real estate developers in the Hudson Valley are reaping the benefits of their misfortune. It's a sad reality that highlights the need for more affordable housing options and a fairer system for homeless families.