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SOMETHING HAS TO HAPPEN before bad mortgage loans take down an economy. You have to convince people that they want homeownership instead of affordable housing. And before that, you have to sell them on the notions of personal responsibility and the free market ... and before that? Convince them to dismantle the welfare system, expand prisons and target immigrants under the pretext that poor people of color are the problem.
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That's the short story of how we got into this mess (aka the economic crisis), in my not-so-humble opinion. So, how do we get out?
We could begin by shifting our focus to affordable housing, reinvesting in services that support our common well-being and taking the lead from the poorest families affected by the crisis.
The families Michelle Chen interviewed for our cover story were already living close to the edge when foreclosures and job losses struck. Some were paying for housing with Section 8 vouchers, watching their pennies and looking for work. One is a single mom and proud of always having been able to provide for her family. They were all renting before they found themselves homeless and before they discovered that the homeless shelter system is not prepared to handle the needs of entire families.
But these women and ...