I can only speak about the US, but sadly, the unhoused die of hunger, preventable disease, and exposure all the time here. And unemployment does not cover a 1 bedroom apartment in major cities, nor does it qualify you for the outrageous requirements of most leases. You may be right about the status of the poor in the EU though.
I mostly agree with you, but economics is at best a heaping tablespoon of math and a sack of human behavioral psychology. Those guys really only know what’s going on 6 months after it happened.