It's worse than that.
(Wait, I thought the US was the only modern western country with a homeless problem and that other modern progressive states didn't; was I lied to again?)
It's not just an economic failure. It's a spiritual failure. It's now possible to live what we'd call a middle-class lifestyle in the UK entirely on the dole. But these "artists, performers and poets" aren't even interested in that; they'd rather squat in cities than live a more "boring" existence somewhere else where perhaps they could get actual employment.
And property owners must go to court to evict squatters? Another fine example of the police state existing mainly to protect the criminal.
It's also an example of how a state that cannot protect even basic property rights is worse than useless.
