San Francisco spends $37,000 on each homeless person per year. So why are they still homeless?

I just came across this news article from the San Francisco affiliate of NBC News:

San Francisco is slated to spend nearly $280 million this year on housing and services for the homeless — a roughly 40 percent increase compared to just five years ago. Over that same span, however, the number of homeless in the city has largely remained the same at about 7,500 people, according to city counts.

In other words, San Francisco spends $37,000 on each homeless person per year.

So why are they still homeless?

My best guess is that it’s because this spending is more about helping the government bureaucrats and social workers than it is about actually helping the homeless.