The episode starts out with the President giving a speech on chewing and eating, and then on to Milk and Tetsuko watching TV. After the landlord's usual interruption, the President calls. The cardboard houses of the homeless have burned down and now the homeless are without homes (lovely irony). Milk and Tetsuko pick up a machine from Dr. Eyepatch that builds a tower of hollow metal barrels, each of which is inhabited by one homeless person.
After this is Towering Homeless - The Sequel, which is pretty much the same as Towering Homeless, except the details change. The President gives a pervy speech about judging people on their looks, Milk and Tetsuko watch a different TV episode and trick the landlord away with a new method, and the homeless tower they build is a different shape.
After THIS is Towering Homeless are Back, in which the President starts the episode with a speech on African Elephants, and it cuts to a "To Be Continued" screen.