California has around half of the nation’s unsheltered homeless population. The state’s homelessness crisis has become a talking point for Republicans and a warning sign for Democrats in blue cities and states across the country. Last month, the Benioff Homelessness and Housing Initiative at the University of California, San Francisco, released a landmark report about homelessness in the state, drawing from nearly 3,200 questionnaires and 365 in-depth interviews. It is the single deepest study on homelessness in America in decades. And the report is packed with findings that shed new light not only on California’s homelessness problem but also on housing affordability nationwide. Jerusalem Demsas is a staff writer at The Atlantic who has written extensively about the interlocking problems of housing affordability and homelessness in America. So I asked her on the show to walk me through the core findings of the study, what we know about the causes of homelessness, and what solutions exist to address it. We discuss the surprising process by which people end up homeless in the first place, the “scarring” effect that homelessness can have on their future prospects, the importance of thinking of homelessness as a “flow,” not a “stock,” the benefits and limitations of “housing first” approaches to end homelessness, why Republican proposals for being tougher on the homeless can make the problem worse, why neither generous social safety nets nor private equity firms are to blame for homelessness, and more.