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?
Terrorism and tweets, hate speech and murder Just days before an election, Britain is coping with a rash of deadly terrorism, and Prime Minister Theresa May is on the defensive. And again today, President Trump has tweeted criticism of the Mayor of London. Later, a double murder in Portland, Oregon has revealed the ugly past of a supposedly “progressive” city. One immediate question: is “hate speech” protected by the First Amendment?
Human Rights in the era of Donald Trump President Trump’s UN Ambassador, Nikki Haley, said today the US might pull out of the United Nations’ Human Rights Council. Serious violators of human rights are members of the Council itself–and a US resignation could make things worse. Later on today’s show, now that he’s into his second term, comedian turned US Senator Al Franken is telling jokes again.