On Wednesday, November 13, TruthToTell returned to the Minneapolis Urban League for the 9th in its Community Connections series of on-location public forums. In this month’s forum, TTT looks at the ripple effects of still ever-present foreclosures in the Twin Cities Metro and solutions for community stabilization in the wake storm.
While we keep hearing about the “improving” economy, dropping unemployment rates, and a rising Dow Jones average, the rate of home foreclosures is still much higher than we ever saw before the crash in 2007-2008, and these rates remain highest among low-wealth communities and communities of color. Why are banks still throwing so many people out of their houses and on to the streets? Why do banks refuse to re-negotiate mortgages with homeowners based on current market rate rather than demanding exorbitant amounts of money from them to stay in their home, especially when the next step after the home owner can’t pay is usually to auction off that home at a fraction of what the bank was demanding?
As a result of these foreclosures and subsequent evictions, we see an unfortunate correlation between the rise in demand for rental properties and an increase in rental rates, as well as an increase in boarded up vacant houses and rise in homelessness. We’ll talk to our panelists, who are all organizers trying to mitigate the effects of this housing bubble. Please join us this Monday, for the encore presentation of Wednesday evening’s conversation where TTT hosts Andy Driscoll and Michelle Alimoradi talked with the panelists and audience members about policies that have already been passed, policies that are still needed, and other actions that organizers and community members could take to bring stability back to the communities that have been most affected by the housing crisis.
TruthToTell: Community Connections is made possible by a generous grant from the Bush Foundation, which has enabled TruthToTell to partner with KFAI Fresh Air Radio, St. Paul Neighborhood Network (SPNN), and selected community partners to present these discussions and dialogues on important issues like education, the environment, health care, politics and elections, transportation, Native concerns, youth issues and more, into the key communities affected by these respective topics for radio, television and online distribution.
Executive Director, Neighborhoods Organizing for Change
Home-owner facing foreclosure in South Minneapolis, recent mayoral candidate
Executive Director, Jewish Community Action
Director, CURA Housing Forum at the Humphrey School of Public Affairs