Blackstocks.com: In the Know

Mortgage Cost Expenses for Black Americans

MORTAGE CRISIS
According to Reuters, for years, political leaders touted rising homeownership rates as a sign the "American Dream" was being fulfilled but more than a million looming foreclosures have called the dream into question.

"We no longer have a problem with loan availability ... but a lot of our homeowners are one crisis away from losing their home," said Hope Wilson, a housing counselor at Working in Neighborhoods, a nonprofit trying to boost homeownership in inner-city Cincinnati.

There is no shortage these days of tragic stories of homeowners caught in America's subprime mortgage meltdown, as risky borrowing, reckless lending and a slump in the housing market drives millions into foreclosure.

But while statistics show poor and minority homeowners are bearing the brunt of the crisis, the belief that every American can or should own their own home remains so pervasive few politicians admit that it just might not be true.

"The more people who own their home, the better off America is," President George W. Bush said in a 2004 speech. "See, we want more people owning something because when somebody owns something, they have a vital stake in the future of the country."

After stagnating at about 65 percent for much of the 1960s, '70s and '80s, the U.S. homeownership rate has risen slowly in the past 15 years to nearly 69 percent -- a point of pride for Democrats and Republicans alike.

But with an estimated 1.5 million homeowners facing foreclosure this year, Congress is now looking at tighter lending standards to protect unwary Americans from taking on loans they cannot afford.

NOT READY

Despite the crisis, Massachusetts Democratic Rep. Barney Frank, who heads the House Financial Services Committee that likely will set new lending rules, is one of the few politicians willing to admit that homeownership is not for everyone.

"Not everyone is ready ever. A lot are not economically ready now," Frank said in an interview with Reuters.

Some Riveting Insight - BlogAnotherVoice.com

Another Voice

What's going on in the world; from politics in Washington, to schools and education in New Orleans - from guns in the schools to bombs in Iraq .. this blog provides another voice. It has some really great commentary on what is going on in America and around the world today.

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Blackstocks.com 10th Anniversary Year

Some of the best information you can find any where on the Internet can be found on Blackstocks.com.

During its 10th anniversary year, www.blackstocks.com is focusing on the following objectives:

1) Increasing members knowledge and access to credit; and

2) Increasing the creative means for African Americans and other people to access capital; and

3) Increasing members knowledge of the impact of the stock market on their lives.

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Why are Black men so homophobic?

Just One Opinion

Over on an African American Opinion Blog a blogger was asking this question, "Why are Black men so homophobic?”

Apparently in response to a situation where actor Isaiah Washington, star of Grey’s Anatomy, called his co-star, T.R. Knight a ‘faggot’ which led to a scuffle or fight with his other co-star Patrick Dempsey.

I started to leave this response to our good people over at www.blogAnotherVoice.com; but I just couldn't help myself.

Here is my response to this question....."Why are Black men so homophobic?”

The same reason why who ever wrote the initial post is a bigot - regardless of the color, race or sex.

Lumping people or a group of people in a certain category because of the action of one person.....is certainly short sighted...and bigoted.

There are millions of Black men...of all colors, hues, and persuasions. Why would someone think that all Black men...think alike? the same reason that some bigot or racist would say..." you know most of them folks...work hard...its just 50% of them that are like this one... lazy."

Seems to me.....that if I can stop lumping people in a group...and avoid words like...most people....all black...this or that......or the politicians' time tested favorite....the American people...feel.. How in the hell would they know how all 200 or so million Americans feel or think.....?

The answer...they don't...and you don't know how all Black men think.....or let me correct that ...

I can't speak for all Black men....I can only speak for one....that's this Black man writing this post....and if you keep on making blanket statements like that ....one day soon...you'll surely be toast.

Now what's your opinion?

AP

 

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