GUY ON HOMELESS SPACE - 1

AND THE BUBBLE BURSTS

Home foreclosure right now is a wave sweeping the country and globe. And like a wave curling over and crashing on the beach in great slow-motion, the nose-diving economy and resulting wave of foreclosures is encircling the space of the American home-space and smashing it into millions of small floating bubbles of wandering, homeless space.

What forms does this homeless space take? When we think of the homeless, mostly we think of people living on the street, or in the park, or in the wild. But the national or global phenomenon of mass foreclosure today reminds us that, like after Hurricane Katrina, people can be homeless who are actually living in a home. In relatives’, friends’, or foster homes, or even government-supplied temporary homes, they can be said to be living in varying degrees of homelessness.

At least at first. People are made homeless by an event, like foreclosure, that takes them out of the warm, comforting, well-worn space they call their home, without them having a new home-space to move into. You can imagine this being the first degree of homelessness: Moving into a family member’s house after foreclosure. There could be further degrees, like government housing or homeless shelters, leading eventually to the final level of homelessness—where a person actually is on the street.

But we build our homes around us. They don’t require physical walls, fireplaces, stoves, or washing machines. They require no more than warmth, comfort, and familiarity. And this can be found, in time, by the lowliest beggar poorly clothed and wandering.

Time is the key. For eventually, it is human nature to find familiarity in one’s surroundings: even if you wander from town to town aimlessly, this constant change in your surroundings becomes, in time, familiar. And with familiarity comes comfort, and with comfort, warmth.

Economist have a measure called the “velocity” of money. It is roughly a measure of how frequently the same money changes hands, allowing more people to benefit from it. What foreclosure does is increase the velocity of space in one dimension, by moving people’s home-space into homeless space—the wave crashing down. But that is not the end of the story. Eventually, even those totally bereft find home-space wherever they are.

And in that sense, home-space and homeless space are one.