The crowdfunding platform GoFundMe revealed a striking four-fold increase in campaigns seeking help for basic necessities like housing in 2023, highlighting the ongoing struggles many face with inflation and living costs.
In its annual giving report released Tuesday, GoFundMe noted an unprecedented rise in users turning to the platform for assistance with fundamental expenses, particularly housing costs. The dramatic uptick points to broader economic pressures affecting households across the nation.
"Help is central to our humanity," said GoFundMe CEO Tim Cardogan, emphasizing how the platform has become a lifeline for many facing financial hardship.
The report highlighted cases like the Martinez family from Los Angeles, who raised over $75,000 after facing eviction from their home of 37 years. Their successful campaign, which exceeded its initial goal, exemplifies the growing housing affordability crisis in many urban areas.
The surge in basic needs fundraising comes amid persistent economic challenges. Recent data shows U.S. prices are now more than 21% higher compared to early 2020 levels. Housing costs alone have risen 4.7% over the past year, while other necessities like groceries and utilities remain expensive.
While inflation has decreased from its 2022 peak, many households continue to struggle with elevated prices across essential categories. The International Monetary Fund attributes these ongoing cost-of-living pressures to multiple factors, including pandemic disruptions, climate change impacts on supply chains, and global geopolitical tensions.
The trend of increasing GoFundMe campaigns for basic necessities reflects deeper societal issues, similar to previous patterns seen with medical debt fundraising. As more Americans turn to crowdfunding for housing support, it underscores the broader challenges of affordability and economic stability facing many communities.