Nearly 12 millions homeowners have been foreclosed on since mid-2006 when the housing bubble burst, helping to eliminate 10 million jobs in a ripple effect as consumer spending dropped, while also putting enormous pressure on the rental market, especially for low-income and disabled renters. Californians have been especially hard hit, suffering over 100,000 mortgage foreclosures since the market collapse, 60,000 of them here in Los Angeles County.
“Total losses are estimated in the tens of trillions of dollars worldwide,” says Kwazi Nkrumah, Occupy the Hood activist. “And the metro LA area currently has a foreclosure rate of one household for every 46 residential units.”
While some banks who bet heavily on the subprime market have folded, Wall Street apparently has rebounded quite nicely. But your neighbors down the street fighting foreclosure? Your brother-in-law whose house is a mile underwater? Maybe you? Not so much. Not nearly so much.
Hear how activist groups in the San Gabriel Valley and across Los Angeles are fighting back, battling attempts to throw people out of their homes and collaborating to find housing for former homeowners and others who can no longer find a decent—and afforable—place to rent.
Carlos Marroquin and Cheryl Aichele from Occupy Fights Foreclosure will discuss Occupy Movement efforts to protect homeowners from fraudulent foreclosures.
ACLU Chapter President and affordable housing advocate Michelle White will discuss how renters have been impacted by federal cutbacks, California’s confiscation of redevelopment funds, and proposed solutions.
What: ACLU Pasadena/Foothills Chapter Forum:
When: Tuesday, May 8th, 7 p.m.
Where: Neighborhood Church, 301 North Orange Grove Blvd., Pasadena
The event is free and open to the public.
For more info, see http://www.aclu-sc.org/pasadena, or contact Sharon Kyle or Chamarra Russo, Communications Co-Chairs, ACLU-SC Pasadena/Foothills Chapter,aclupasadena@yahoo.
301 N Orange Grove Blvd
Pasadena, CA 91103
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