The purpose of this article is to deepen the understanding of the impact of the social and economic crisis on homeless people in Spain. To this end we present the results of research carried out prior to the crisis and later updated in the midst of the economic recession, underscoring the main results obtained in both periods and tracing their evolution. The number of homeless people in Spain has risen as a result of the crisis. Moreover, while some characteristics of this group remain the same, others have changed. Hence, difficulties in access to the labour market and cuts in certain economic benefits are resulting in an increase in the duration of social inclusion processes. This results in a worsening of the personal situation of the homeless, especially in relation to mental illness and substance abuse. The immigrant population is the group most affected by these impacts. The situation clearly demonstrates the need to reflect on how to deal with the problem of homelessness in Spain, and to rethink the way professionals intervene, especially during periods of economic recession.