Why do people become homeless?

Because of their attitudes and ways of life.

Either they don't have a large enough income, any reliable family members, or have something mentally wrong with them. There's this homeless guy where I live that I've heard about multiple times. I've been told that he's a millionaire, but he's messed up in the head. That's pretty much all I've heard. Everyone's told me from family members to friends. I always wonder why doesn't someone just tell him to go to the bank, or try to help him at least. Most likely someone would try to scam him out of his money.

Can not afford to own a home or rent an apartment due to escalating cost of living. A run away inflation n under-employment with unsustainable wages make living under a roof an improbable scenario.

There are gazillion reasons why people become homeless. It would vary from one person to another. Reasons that I can think of right now, top of mind are the following: 1. Calamities 2. Living Beyond Their Means 3. Job Loss or Not-So-Good Work Opportunities 4. Health 5. Lack of Affordable Housing