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Similaire à America's Minority Middle Class Stagnant Recovery PP
Similaire à America's Minority Middle Class Stagnant Recovery PP (20)
America's Minority Middle Class Stagnant Recovery PP
- 1. America’s Minority Middle Class Stagnant Recession Recovery NYU LAMI & LANS Presentation Kenyetta M. Lowery July 26, 2014
- 2. Is the Recession Over for Minorities in the Middle Class? • Disproportionate increase in foreclosure homelessness for minorities • Narratives of Foreclosure Homelessness • Foreclosure projections and relief efforts
- 3. Here are the Facts: Report by the Center for Responsible Lending (CRL)
- 4. Foreclosures by Race Ethnicity and Numbers Foreclosures by race/ethnicity and shows the number of foreclosures per 10,000 mortgage loans. Minorities affected twice a much compared to White Americans (2007-2009)
- 5. Peter, S. G. "From Foreclosure to the Car to a Shelter Bed." New York Times 19 Oct. 2009: 2pgs. Print.
- 6. From Helping the Homeless to Being Homeless
- 7. The Mobilization that Foreclosed on the Real Issue
- 8. Occupy Wall Street (OWS) • A protest that mobilized September 2011 receiving global attention and starting the Occupy movement against social and economic inequality worldwide. • “It’s lack of focus on a singular mission…” former Labor Secretary Robert Reich and ex-Lehman vice president Larry McDonald • Pepitone, Julianne. "Why Occupy Wall Street Fizzled." CNN Money. CNN, 17 Sept. 2013
- 9. Foreclosure Relief • Making Home Affordable Program (MHA) is a free program administered by the Obama Administration in 2009 to help families avoid foreclosure and strengthen the housing market recovery. • September 2012 The NAACP/NID-HCA collaborated with the MHA Outreach and Intake Project nationwide to help families struggling with their mortgage payments apply for help from the federal government
- 10. National Association of Real Estate Brokers- Investment Division Inc., Housing Counseling Agency • NID-HCA is a diverse network of advocacy groups, individuals, organizations, housing counselors, real estate professionals, community groups, civic organizations and faith-based organizations committed to ensuring fair housing opportunities for all in urban/minority communities throughout the country.
- 11. Minorities At Greater Risk for Next Recession • The "State of the Dream" report by United for a Fair Economy in 2013 found that, "Black and Latino families came out of the Great Recession in much more debt relative to their net assets than White families.” • Black and Latino families owe 53 % and 58 %. White families owe 17%
- 12. What May Help • Financial Education regarding homeownership • Financial Assistance in the form of a Stimulus • Strict Government regulations in lending practices inside and outside the housing market…car loans, payday loans etc…
- 13. Acknowledgements • Allen, Freddie. "Blacks are Less Prepared for the Next Financial Crisis." The Louisiana Weekly: 11. Apr 2013. • Bocian, Debbie, Wei Li, and Keith Ernst. "Foreclosures by Race and Ethnicity: The Demographics of a Crisis." Center for Responsible Lending (June 2010): 1-25. Web. • Dedrick, Asante Muhammad. "Homeowners Struggling with Mortgage Payments Get Help." The Crisis Fall 2013: 45.
- 14. Acknowledgements cont. • Peter, S. G. "From Foreclosure to the Car to a Shelter Bed." New York Times. Oct 19 2009. • My Mentor. Latty, Yvonne. Director Reporting New York/ The Nation Professor in Journalism Dept. at NYU • My Home Institution Edward Waters College Dr. V. Landrum/ Professor of Psychology
Notes de l'éditeur
- Tell her story of how she bought a home..then bought another home with her husband…making it a small business receiving subsidy from the state. Inflation and Recession…took out an additional loan to compensate…got behind…husband left her….starting sleeping in car…with friends and family…then ended up at a shelter…
- two members of CNN Money's panel, former Labor Secretary Robert Reich and ex-Lehman vice president Larry McDonald, critiques of Occupy's approach: Its lack of focus on a singular mission, its disorganization, its reliance on getting 95% of Occupiers to agree on what the group should do.
- The organization is headquartered in Emeryville, Calif., and has 52 full service branch offices in 22 other states. It also provides online and phone services that can adequately assist clients nationwide.
- Allen, Freddie. "Blacks are Less Prepared for the Next Financial Crisis." The Louisiana Weekly: 11. Apr 2013. Even as Wall Street roars back, reaching record highs in 2013, the last economic crisis has left minorities more vulnerable to next one. The Center for American Progress report on household risk recommended a number of approaches to helping families protect themselves from the economic downturns. United for a Fair Economy- nonprofit organization- led into fact that I have not found current data to sustain predictions made during the time period CRL study was conducted…United State Senate Committee/Banking, Housing, urban Affairs no meeting this year on foreclosures
- Leigh said that policymakers must also address predatory lending practices outside the housing market including car loans, payday loans and the refund anticipation loans that are popular during the tax season. Wilhelmina Leigh, a senior research associate at the Joint Center for Political and Economic Studies, a group that works to improve the socioeconomic status of African Americans and other people of color.