California is in the midst of a housing crisis that threatens the health and well-being of millions of people. The crisis is particularly acute in low-income communities, who overwhelmingly pay a large portion of their already-small income on housing, and communities of color, who have faced decades of legal and extra-legal residential segregation, housing discrimination, predatory lending, and exclusionary lending practices, such as redlining. While hundreds of thousands of Californians experience housing instability or have to make the choice between paying rent and buying basic necessities like food and medicine, corporate landlords are profiting from this crisis.
Based on research from MIT graduate Maya Abood and in partnership with Americans for Financial Reform (AFR) and Public Advocates we are excited to announce the release of our new report! The report, “Wall Street Landlords Turns American Dream Into American Nightmare: Wall Street’s big bet on the home rental market, and the bad surprises in store for tenants, communities, and the dream of homeownership”, documents in detail Wall Street’s growing influence, and abuses, in the single family rental (SFR) industry in geographies where it has focused its efforts.
This report shows how aggressive, and often predatory, lending is doing particular harm to the economic (and physical and emotional) well-being of women of color.
The report is the culmination of a survey and story collection project carried out by ACCE Institute and two other statewide community groups, New Jersey Communities United (NJCU) and ISAIAH in Minnesota. This project was funded by the Women’s Equality Center.
In 1992, California became the second state in the nation to pass legislation authorizing the creation of charter schools. Since the law’s passage, which originally authorized 100 charter schools, the number of charter schools in California has grown rapidly. Today, California is home to the largest number of charter schools in the country, with over 1100 schools providing instruction to over half a million students. In the 2013-14 school year, California charter schools received more than $3 billion in public funding.
No matter which way we look at it, 2016 was a big year that marked a turning point for our nation and for ACCE Institute. We spent the year fighting and winning major victories for California’s low wage workers, tenants, homeowners, and undocumented residents.
Reflecting on our 2016 victories and challenges gives us both hope and a renewed fire to fight hatred and divisions that we will carry into our 2017 work. We invite you to reflect with us on our 2016 victories to start building the vision for what is achievable in 2017.