Ending homelessness in Los Angeles would cost $20.4 billion over next 10 years: City officials

Los Angeles housing officials estimate that it would cost $20.4 billion over the next 10 years to end homelessness in the city.

According to a report from the Los Angeles Times, "local, state and federal governments" would have to "more than double" their current spending on the problem, a draft budget analysis from the city's housing authority said.

Under the draft proposal, about 36,000 permanent housing units for homeless residents who have chronic health issues would be constructed and 25,000 additional apartments would be subsidized for low-income homeless residents. 

The analysis estimates that homelessness would drop to essentially zero by the end of 2032 if the plan were enacted. 

Currently, about 45,000 people are considered homeless in Los Angeles and of that 45,000, there are roughly 29,000 are unsheltered, according to the latest data.