The LAPD will receive a $120 million increase in funding under Garcetti’s budget, which was adopted by default Monday after the City Council declined to review it by the June 1 deadline. More city money will be dedicated to policing than any other service this budget year. If you added up the budgets for housing, streets, and transportation, then tripled the sum, it still would not match the city’s LAPD budget.
April 17, 2020
WASHINGTON— Rep. Ilhan Omar (D-MN) unveiled the Rent and Mortgage Cancellation Act, a bill to institute a nationwide cancellation of rents and home mortgage payments through the duration of the coronavirus pandemic. The bill would constitute a full payment forgiveness, with no accumulation of debt for renters or homeowners and no negative impact on their credit rating or rental history. The legislation will establish a relief fund for landlords and mortgage holders to cover losses from the cancelled payments and create an optional fund to fully finance the purchase of private rental properties by non-profits, public housing authorities, cooperatives, community land trusts, and states or local governments—in order to increase the availability of affordable housing during this downturn.
Revelatory, I know:
Nearly 4 million people, or just over 7% of mortgage holders, have sought relief on their home loans as of April 30, according to housing data provider Black Knight. That’s up sharply from the beginning of March, when fewer than 150,000 mortgages were in forbearance.
The number is only expected to grow, with May payments due soon and with the nation’s unemployment rate expected to reach 15% to 20%.
The four-and-a-half minute rant has received over 1,600,000 views on YouTube, 158,000 likes on Reddit,
„They told me, yes, you can skip three months‘ payments,“ Gullo says. „But then they told me there was a balloon payment at the end of it.“ He was told that after three months, they’d have to come up with all the money for those skipped payments. So they’d suddenly owe four months of mortgage payments all at once — $14,000.
Full video here: https://cs.pn/2XXiwi5
As Democratic and Republican leadership in Congress spent the last two weeks engaged in fraught negotiations and partisan bickering over an interim emergency relief bill to address the ballooning coronavirus crisis, Congresswoman Alexandria Ocasio-Cortez emerged as the loudest progressive critic of the legislation in Congress. While recognizing that Democrats managed to secure some wins in the nearly $500 billion legislation—which includes funding for hospitals, small businesses, and testing—Ocasio-Cortez has essentially dismissed it as a Band-Aid for a gunshot wound.
The U.S. Federal Reserve has hired asset management giant BlackRock to help it execute the purchase of commercial mortgage-backed securities announced this week as part of the central bank’s aggressive efforts to shore up the U.S. economy.
Progressive lawmakers on Capitol Hill Wednesday, including U.S. Rep. Ayanna Pressley of Massachusetts’s 7th District, declared housing a fundamental human right and called for a new wave of investments in combatting homelessness and expanding affordable housing.
According a public poll commissioned commissioned by the National Low-Income Housing Coalition (NLIHC) last fall, 85 percent of Americans believe that ensuring everyone has a safe, decent, affordable place to live should be a “top national priority,” and 8 in 10 people in America believe that Congress should “take major action” to make housing more affordable for low-income people.
#HousingNOW #HousingIsAHumanRight #EvictTheSpeculators #StandWithTheMoms #HoldThemAccountable