The reality of the current real estate renaissance is that the rich
and those on Wall Street are raking in the cash while large segments of
the population—especially historically marginalized communities—remain
stuck in a downward, alternate housing reality.
Generally, housing recoveries are fueled by millions of Americans
with new jobs, higher wages, available credit from banks and overall
confidence that things will get better. But the real economy that most
people live in day-to-day is too weak for all of that. Jobs are in short
supply, wages are at historic lows and credit for middle and working
class Americans is tight. With their economic ladder into homeownership
taken away, many Americans can no longer participate in the housing
market. [Read more]
