Effect of Housing Crisis on Latino and African American Communities

BRIEFING TO DISCUSS THE CURRENT HOUSING CRISIS ON LATINO AND AFRICAN AMERICAN FAMILIES IN SAN FRANCISCO AND NATIONWIDE

Hosted by: Honorable Supervisors Avalos, Campos and Maxwell, the Mayor’s Office of Housing, CARECEN, Dolores Street Community Services, Bernal Heights Neighborhood Center, Mission Economic Development Agency (MEDA) and other community organizations

WHAT: Briefing and discussion on the impact of the housing crisis on local African American and Latino Families and hear about local solutions and present findings from a resent study by the William C. Velasquez Institute (WCVI) –“The End of the American Dream for Blacks and Latinos: How the Home Mortgage Crisis is Destroying Black and Latino Wealth, Jeopardizing America’s Future Prosperity and How to Fix It”

WHEN: Wednesday, Oct. 28th, 10am, Coffee and Pastries will be offered.

WHERE: San Francisco, City Hall room 278

WHO: Dr. Raul Hinojosa UCLA professor and co-author, local elected officials, city government staff and community leaders

Background: A recently released study by the William C. Velasquez Institute(WCVI) that examined the impact of the current housing crisis on Latinos and Blacks found that it has caused an unprecedented destruction of minority wealth, which threatens America’s economic recovery. The study also documents how after the largest growth in home ownership in history during over the last 15 years, Blacks and Latinos are suffering their largest loss in wealth (over 200 billion dollars during the last three years) in modern history. This historic loss of wealth and opportunity threatens not only their ability to achieve the American Dream, but it also jeopardizes the nation’s economic recovery.

WCVI is a national nonpartisan, nonprofit policy and research organization. Founded in 1985, WCVI is focused on issues relevant to America’s racial and ethnic minority groups. WCVI has offices in San Antonio, Texas and Los Angeles, CA.

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