Foreclosure: The Crisis That Hits Home . 2009 Washington State Access to Justice Conference Justice: Hope and Help in Hard Times j ohn a. powell
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Foreclosure: The Crisis That Hits Home
2009 Washington State
Access to Justice Conference
Justice: Hope and Help in Hard Times
john a. powell
Executive Director, The Kirwan Institute for the Study of Race & Ethnicity and Williams Chair in Civil Rights & Civil Liberties, Moritz College of Law
United for a Fair Economy, “Foreclosed: State of the Dream 2008”
From Redlining to Reverse Redlining in Philadelphia
African American homeownership gains were reversed after 2004; they have reverted to 2000 levels.
Austin, Algernon. “Reversal of Fortune.” EPI Briefing Paper #220 18 Sept. 2008.
Capital Market ‘Credit crunch’
Banks, police and courts saddled with foreclosures
Families lose their homes, wealth and safety
SUBPRIME LENDING: We didn’t care about the canary...
Affected neighborhoods are being reduced to ‘ghost towns’
Reduced spending and retail flight
Since the recession began in December 2007:
Bureau of Labor Statistics & http://www.msnbc.msn.com/id/29843053 & Marlow, Ron, and Andrew Sum. “A Job Crisis for Young Black Men.” The Boston Globe 22 Apr 2009.
Austin, Algernon. “What a Recession Means for Black America.” EPI Issue Brief # 241. 18 Jan. 2008.