Homelessness by law and by economics. I'm David Brancaccio in New York.

Today the US Supreme Court is set to hear oral arguments in a case that could determine

whether cities can break up encampments of homeless people

if alternative housing is not available.

This case, Grants Pass v Johnson, is at the High Court against an economic backdrop making it harder to build and operate low-income

housing. This is especially true in California where 28% of the country's un-housed people are located.

Marketplace's Matt Levin reports.

It's already pretty expensive to build low-income housing in San Francisco.

The nonprofit Mercy Housing has a 220 unit complex in development where construction costs are budgeted at

five hundred and twenty two thousand dollars per apartment. And the feds move to

leave interest rates higher for longer isn't helping says mercy's Ramey dare.

We like many other real estate projects we borrow you know we have a construction loan from a bank

and we still are pretty close to what the prevailing market is.

There says rates have gone up from about 3 to 6% over the past couple years

and at the same time nonprofits who own and manage affordable housing properties

are also getting whacked by skyrocketing insurance costs.

Holly Benson is CEO of Los Angeles-based abode communities.

We saw a premium increase of 350% last year to this year.

Benson says surging insurance costs are particularly acute in California,

where insurance companies are withdrawing from the market. are fell 9 tenths of a percent on Friday closing below 5,000 for the first time since

February. Futures this morning are up six tenths of a percent in the case of

NASDAQ futures. To catch the macro vibe to start the week.

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