FROM John Taylor
Homeownership and the Fading American Dream In the aftermath of the housing market collapse and the sub-prime mortgage scandal, President Obama promised help for millions of homeowners trying to avoid foreclosures. That hasn't happened. We hear what's going wrong and what it could mean for the future.
Homeownership and the Fading American Dream Since the Great Depression, the US government has encouraged home ownership, most conspicuously with the homeowner's tax deduction. In the aftermath of the housing market collapse and the sub-prime mortgage scandal, President Obama promised help for millions of homeowners trying to avoid foreclosures. Now six million Americans are facing foreclosure, but new federal programs may be doing more harm than good. Instead of help with mortgage modification or refinance, desperate homeowners face a blizzard of paperwork and official errors with little or no supervision. Is homeownership all that it's cracked up to be? If not, what are the consequences for the economy and a cornerstone of American culture?
The Dream of Homeownership Becomes a Nightmare One of the main stumbling blocks to economic recovery is the record pace of home foreclosures. The National Association of Realtors says one-quarter of US mortgage holders is "underwater." Those most likely to feel the pain are blacks and Latinos, especially women.
The Dream of Home Ownership Is Becoming a Nightmare Home foreclosures are setting records, with almost one-quarter of mortgage holders owing more than their homes are worth in the current market. Big banks were the main cause of the housing crisis, but they're resisting demands that they re-negotiate loans that are "under water." The hardest hit are racial minorities, especially women. There's evidence that they were targeted for sub-prime loans even when they could afford better deals. What will this mean for the black and Hispanic middle classes? Is there any hope from Obama Administration?
Trump's new look at civil rights and global warming President Trump is reportedly ready to pull the US out of the Paris Agreement on Climate Change. We look at the possible consequences. On the second half of the program, we hear about cuts in Obama-Era civil rights programs called for by the Trump Administration's first budget plan.
Who's to blame for the opioid crisis? Some of the lawyers who took on Big Tobacco are now going after Big Pharma. It’s all about the deadly epidemic of opioid use. Are the drug companies to blame? What about the users? Later, on today’s Talking Point: making sense of Britain’s upset election.
Will the Senate write a healthcare bill in secret? While Democrats and Republicans argue White House relations with Russia, another question is being decided behind closed doors: who gets help buying health insurance and who doesn't? We hear how the pros and cons are being shrouded in secrecy.