No, it's the homes. This is pretty obvious because homelessness happens in places with expensive home values, not in Appalachia where they're poor and addicted to meth. But they aren't in New Jersey because it has constitutional affordable housing requirements.
Most homeless people aren't literally on the street either, they're in precarious situations like cars or people's couches.
I'm not an "All-In" podcast fanboy, but they touch on this on the latest episode and I think they actually have it right.