Bridging the Gap in Black Homeownership

February 18, 2019 2,517 Views The Best Markets For Residential Property Investors 2 days ago Bridging the Gap in Black Homeownership Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: African-American Homeownership The Urban Institute A recent report by the Urban Institute entitled “A five-point Strategy for Reducing the Black Homeownership Gap,’ pointed out that the black homeownership rate has seen the most dramatic drop of any racial or ethnic group since 2011—declining 5 percent compared to a mere 1 percent drop in white families, and with increases for Hispanic families. Data also found that the homeownership rate of black millennials stands at 13 percent today compared with 37 percent for white millennials. In the past 15 years, black homeownership rates have declined to levels not seen since the 1960s, when private race-based discrimination was legal, the report indicated. Though homeownership is the primary mode of wealth creation and more beneficial than renting from a financial perspective, there is an increasing loss of access to this wealth-building for African- Americans. Reducing the GapBased on housing industry leaders’ plans to explore areas ripe for policy intervention at both the national and local level during a planning grant from the National Association of Realtors and the National Association of Real Estate Brokers, the Urban Institute suggested five strategies to help address the issue. Firstly, it advocates understanding forces at the local level. The report stated that most metropolitan areas experienced a drop in black homeownership in the past decade. Only 4 of the largest 31 metropolitan areas with more than 100,000 black households seeing a marginal increase in the black homeownership rate. Digging deeper into the causes of the decline as well as the environment in cities where black homeownership rates have increased, is an important step.  The report also encourages examining specific market-based approaches, including removing local-level barriers related to affordability and help more renters get on a pathway to becoming homeowners.Secondly, the report emphasized how pivotal addressing housing supply and finance challenges are to bridging this gap. “We need to understand how the housing shortage and tight credit affect people and communities of color. And we need to quantify how preservation, rehabilitation, and construction of affordable housing, as well as access to small-dollar mortgages, could improve the black homeownership rate in local markets,” the report reads.Thirdly, the report highlighted how efforts to enable renters to become homebuyers will increase black homeownership through analyzing how income is calculated in mortgage underwriting, stabilizing and broadening the reach of down payment assistance and low–down payment lending programs. Fourthly, the report calls for the strengthening of government mortgage programs and bringing about needed reforms and improvements. It also cited the Federal Housing Administration and the US Department of Veterans Affairs, as two government mortgage insurance programs that play an outsized role in supporting black homeownership.Finally, sustaining homeownership through all economic cycles and keeping people in their homes after purchase is the key to building housing wealth. According to Urban Institute, there is a need to better understand how homeowners can use tools and programs to navigate all economic cycles, including taking a closer look at mortgage servicing and safe home equity lending products.The report also pointed out that “changing the course of such an enormous and entrenched problem will require intention, a renewed knowledge base, and the partnership of many stakeholders in the housing ecosystem.” African-American Homeownership The Urban Institute 2019-02-18 Donna Joseph  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Bridging the Gap in Black Homeownership Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Previous: Potestivo Selected for Prestigious Award Next: Golden State Records Drop in Home Sales The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Donna Joseph in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago read more

Sleet and Snow in Ocean City Forecast for Wednesday

first_imgThe latest National Weather Service snowfall forecast calls for 2 to 3 inches of snow in Ocean City.A messy mix of rain, sleet and snow is in the forecast for Wednesday in Ocean City. But the storm is not expected to bring any major accumulation or tidal flooding.The latest National Weather Service forecast calls for precipitation to begin Wednesday late morning or early afternoon as the air temperature reaches a high of 38 degrees. Rain is expected to turn to sleet and snow as temperature drops on Wednesday.In a snowfall forecast released Tuesday evening, the NWS predicts 2 to 3 inches of accumulation in Ocean City and the coastal region of Cape May County — though it acknowledges that the forecast is still uncertain.Temperatures are expected to fall into the 20s on Wednesday night but return to a high of 38 degrees on a partly sunny Thursday.Northeast winds of 12 to 17 mph will accompany the storm. High tides (on the bay side of Ocean City) are at 8:31 a.m. and 8:57 p.m. on Wednesday.Long-range forecasts suggest Ocean City could see more precipitation from coastal storms on Saturday and Monday — with the second holding the greater potential for cold air and snow.last_img read more

What channel is the hot dog eating contest on today? Time, TV schedule for Nathan’s 2019

first_imgWhen is the Nathan’s Hot Dog Eating Contest?The annual event occupies its traditional July 4 spot on the calendar this year. The women’s competition will begin at 10:45 a.m. ET, with the men  following at noon ET.How to watch the Nathan’s Hot Dog Eating ContestThere’s no need to fear missing the contest. ESPN’s family of channels will air the event seven times in a 15-hour window. Live coverage of the women’s contest begins at 10:45 a.m. ET on ESPN3. Coverage of the men’s contest coverage follows on ESPN2 at noon ET. The men’s competition will also re-air on ESPN2 at 3 p.m., 4 p.m. and 1 a.m. ET., and at 7 p.m. and midnight ET on ESPNEWS. You can also stream the action online at WatchESPN.com and on the WatchESPN app.Nathan’s Hot Dog Eating Contest winners Along with a fancy championship belt and a full stomach, winners of the contest also receive a $10,000 prize. The timing of the contest has varied over the years, with 10 minutes being the official duration since 2008.YearWinnerHot dogs eatenTime2018 men’sJoey Chestnut7410 mins.2018 women’sMiki Sudo372017 men’sJoey Chestnut7210 mins.2017 women’sMiki Sudo412016 men’sJoey Chestnut7010 mins.2016 women’sMiki Sudo38.52015 men’sMatt Stonie6210 mins.2015 women’sMiki Sudo382014 men’sJoey Chestnut6110 mins.2014 women’sMiki Sudo342013 men’sJoey Chestnut6910 mins.2013 women’sSonya Thomas36.752012 men’sJoey Chestnut6810 mins.2012 women’sSonya Thomas452011 men’sJoey Chestnut6210 mins.2011 women’sSonya Thomas402010Joey Chestnut5410 mins.2009Joey Chestnut6810 mins.2008Joey Chestnut5910 mins.2007Joey Chestnut6612 mins.2006Takeru Kobayashi53.7512 mins.2005Takeru Kobayashi4912 mins.2004Takeru Kobayashi53.512 mins.2003Takeru Kobayashi44.512 mins.2002Takeru Kobayashi50.512 mins.2001Takeru Kobayashi5012 mins2000Kazutoyo Arai2512 mins.1999Steve Keiner21.512 mins.1998Hirofumi Nakajima1912 mins.1997Hirofumi Nakajima24.512 mins. One of America’s greatest tradition returns on the Fourth of July as the 2019 Nathan’s Hot Dog Eating Contest returns to Coney Island. Joey Chesnut looks to defend his title after eating a record 74 hot dogs and buns in the 2018 competition. Chestnut already holds the most titles in the contest with 11, and he’ll look to make it 12 later today. Miki Sudo is back to defend her Pepto-Bismol-sponsored pink belt after eating 37 hot dogs and buns to win the women’s division, her fifth victory. Her personal best was set at the 2017 edition where she downed 41 hot dogs.Below is all the information you need on how to watch the 2019 Nathan’s Hot Dog Eating Contest, including past winners.last_img read more

Rangers’ catcher-turned-reliever might have thrown the worst pitch in MLB history

first_imgThe pitch was so bad it didn’t register on the radar gun. It was so bad the pitcher who threw it looked back at the ball flying over the fence with the same facial expression one would use to react to a lame dad joke. Not mad, just disappointed.Rangers backup catcher Tim Federowicz, in to pitch the ninth inning of a blowout, might have thrown the worst pitch in baseball history. His lob to the plate was smacked out of the park by Diamondbacks catcher Carson Kelly, the final blow of a 19-4 drubbing. Federowicz actually managed to retire three of the next five4 hitters without surrendering another run. Here’s the thing: Federowicz hit 77.4 mph with the last pitch of the inning, according to Statcast, which means he had it in him to throw at a semi-respectable speed. Either he was wasn’t fully warmed up when he came in (probable), he was rusty on the mound (if he’d ever been there in his life) or he simply didn’t care very much about the inning’s outcome.Was it the worst ever attempt, though? Hard to say given the lack of video on the 1900 Boston Beaneaters and similar teams lost to history.But it was certainly one of the easiest pitches to hit we can recall, even in an era of position players pitching more frequently. But that didn’t save him from the meatball of all meatballs he put on a platter for Kelly.A real MLB pitch.pic.twitter.com/lkjLhCQvNf— Sporting News MLB (@sn_mlb) July 18, 2019MORE: Watch ‘ChangeUp,’ a new MLB live whiparound show on DAZNlast_img read more