The foreclosure crisis has wreaked havoc on neighborhoods throughout the country, threatening access to affordable and stable housing choices for many AAs & NHPIs. With the subsequent recession and slow pace of the economic recovery leading to significant job losses and declining wealth and assets in our communities, many AAs & NHPIs have been stripped of their financial security and means for upward mobility.
Furthermore, AAs & NHPIs who become unemployed remain in this position longer than any other ethnic group. These economic hardships continue to severely impact the most vulnerable in our communities, and only exacerbate our nation’s wealth disparities and racial economic inequalities. The following recommendations are a few of the many policy solutions that should be put in place in order to advance and preserve economic justice.
Support housing and neighborhood revitalization programs that increase the supply of affordable housing, promote housing stability, preserve access to affordable homeownership and rental opportunities, and revitalize neighborhoods for low-income and low-wealth communities
Support federal funding and programs that promote access to capital, capacity building and small business development and ensure the stability and revitalization of our neighborhoods in rural and urban areas
Support efforts to eliminate current gender wage gaps and support family supportive policies such as paid sick days.
Support workforce investment and development programs that create jobs, provide job training opportunities, enhance protections in the workplace, eliminate gender wage gaps, and ensure family supportive policies such as paid sick days.
Support culturally-appropriate asset building programs that assist individuals and families to make informed financial decisions, increase savings and develop assets, improve access to credit, and provide strong consumer protections in the financial marketplace