Affordable Housing Essay

If you cannot afford a higher down payment, there are other options. The Federal Housing Administration (FHA) offers loans that require just a 3.5 percent down payment, but you will need a fairly good credit score. Since an FHA loan is insured by the federal government, lenders tend to like them because this reduces the lender's risk

deaths, has nothing to do with racism, and is solely a class dynamic. However, in order to really understand why there was a disproportionate negative impact on the poor, black population, we must acknowledge the unfair treatment administered by the housing and legal institutions of Louisiana. This unfair treatment can be seen through pre-Katrina institutional policies contributing to the residential segregation in New Orleans, which relocated most of the Black population to environmentally vulnerable

programs to help such as the Federal Housing Administration that gives people a second chance with a foreclosure or short sale of a home. Low interest rates and low down payments, it gives people another chance to become a homeowner again. The potential buyer still needs to cleanup their credit to make themselves worthy of another chance. Many of the former owners are renting, but still have desires and hopes of getting back into a home soon. This helps the housing market from the boomerang buyers,

banks, in the early 2000’s many U.S. investors and other large investors from around the world wanted to do what they do best. Find low risk, high reward opportunities to invest their money into. They chose to throw their money into the United States housing market, thinking they would make a greater interest then if they invested in United States

Truslow Adams coined the term “American Dream” in his book The Epic of America. Adams stated the “American Dream” was a land of opportunity for everyone. In this utopia, every man and woman is able to reach their highest potential in employment, housing, and family regardless of birth or position, because they worked hard and earned it (“What is The American Dream?”). Ever since 1937, Americans have had this idea in their head of finally achieving the “American Dream” with their spouse, house, white

The Transformation of Housing Discrimination toward African American One of the American Dreams, home ownership, still inspiriting people to work hard and pursue their dream. In order to achieve a “color blind” society, the government set many policies to ensure everyone received the equal opportunities when they try to buy a house in the U.S. For example, the Fair Housing Act as a tool to prohibit the discrimination from color, race, gender, religion or family status (Wolf, Heath). However, there

hands of structural racism. It affected our access to Housing, the labor market, healthcare, and education. I asked four of my family members about their personal experience with structural racism and I will also include my experience in this paper. To begin, housing discrimination is discrimination based on protected class status, race, ethnicity and so much more in the realm of housing and real estate. It can lead to racial segregation and housing inequality. It began to occur in the United States

Congress enacted “affordable housing” goals for two giant government-sponsored enterprises (GSEs), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp (Freddie Mac).”7 The government sponsored entities, Fannie Mae and Freddie Mac were reporting insufficient and inaccurate data to the government regarding their purchases of the mortgages, thus feeding the growth of the existing housing bubble.8 Low down payment mortgages inflated housing prices because buyers

During the spring of 2008, rumors were circulating that the investment bank Bear Stearns would fail due to their massive investments in subprime mortgages, or “toxic assets.” These rumors were able to decline the companyʻs stock from $171 to $57 dollars a share, and bankruptcy was imminent. Ben Bernanke, the chairman of the Federal Reserve, realized that Bear Stearns could not be allowed to go bankrupt because they were deeply connected to many other firms, which would result in major economic failure

Racial Housing Inequality History It was 1947, eight years before Mississippi lynched Emmett Till. The Great Migration was a mass exodus of six million African Americans out of the South that spanned most of the 20th century. Blacks did not journey north seeking better wages and work. Rather, they were fleeing the acquisitive warlords of the South. They were seeking the protection of the law. From the 1930-60s Blacks across the country had no access to legitimate home mortgages. This happened through