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