Voters Blame Banks for Denying American Dream

first_img Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Douglas Schoen Fannie Mae Freddie Mac Housing Policy Investors Uniform 2016-07-15 Brian Honea The Best Markets For Residential Property Investors 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save A little more than half of Americans think it is too difficult to buy a home, especially for non-whites, and they don’t trust banks will help them achieve the American Dream, according to a new poll conducted by New York-based consulting firm Douglas E. Schoen.Schoen’s latest report, which polled 1,000 potential voters for this November’s presidential election, highlights a broad unrest in the perception of the American housing market, where would-be buyers distrust banks and feel like the system is rigged. According to the numbers, 53 percent of Americans surveyed said a home was too difficult to buy. Broken further, 69 percent of “all people of color” said they couldn’t buy a home. The largest single group feeling left out of the picture was Hispanic respondents, 78 percent of whom feel that homeownership is out of the picture for them.Forty-one percent of respondents agreed with the statement, “Banks don’t want to provide mortgages to people like me.” Fifty-one percent blame banks for the lack of access to home ownership, while about 30 percent blame Congress and the GSEs. At the same time, 45 percent of those surveyed said it is up to banks to fix the problem. Less than 35 percent said it should be up to governments or the GSEs.Fannie Mae and Freddie Mac, in fact, were in slight favor for respondents. According to Schoen, 55 percent of those surveyed had a favorable view of Fannie Mae and Freddie Mac, while 37 percent held an unfavorable view. Seventy percent said they would like to see Congress and the federal government do something to make mortgages more widely available. Interestingly enough, reports have surfaced this week that a draft of the Republican platform calls for the elimination of Fannie Mae and Freddie Mac while scaling back the government’s role in the housing market and implementing tougher underwriting standards for mortgage loans.When asked about the net worth sweep of Fannie Mae and Freddie Mac (the federal policy that diverts all GSE profits to the government’s revenue stream) in the Schoen survey, 47 percent of likely voters said the sweep “is a violation of shareholder rights, and takes funds that could be used to increase the availability of mortgages,” Schoen reported. “Further, black voters are the most likely to consider the net worth sweep part of a rigged system.”According to Schoen, 52 of black voters said the sweep is unfair to Fannie Mae’s and Freddie Mac’s shareholders; and 71 percent of black voters support shareholder rights over government interests, the highest of any group, the report stated.Despite the obvious disillusionment in Schoen’s findings, voters still believe that homeownership is both a good investment with financial benefits. In fact, 58 percent of those surveyed said so, while 57 percent said owning a home is still a hefty piece of the emotional promise of owning a home.Click here to view Schoen’s complete survey. Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Douglas Schoen Fannie Mae Freddie Mac Housing Policy Investors Uniform  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News, Secondary Marketcenter_img About Author: Scott Morgan Voters Blame Banks for Denying American Dream Home / Daily Dose / Voters Blame Banks for Denying American Dream July 15, 2016 3,811 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Supreme Court Clarifies the Standard for Actual Fraud Next: A Tale of Two Recoveries: How Will Changes to DASP Effect Homebuyers? Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Update on the latest sports

first_imgPlay-in round team wins draft lottery, shot at LafreniereUNDATED (AP) — Presumptive top selection Alexis Lafreniere will have to wait a little bit longer to find out his NHL destination. Chaos reigned at the NHL draft lottery, with the No. 1 pick still up for grabs in a second lottery drawing. The eight teams that lose in the qualifying round of the playoffs have an equal chance of drafting first. The Kings got the second pick, the Senators the third thanks to 2018 trade with San Jose and the league-worst Red Wings dropped to fourth. Ottawa has the third and fifth picks and is the first team since 2000 with two selections in the top five.As part of the NHL’s 24-team playoff format if it resumes, 16 teams will play each other in best-of-five series to move on — and the losers of those matchups now have a major consolation prize looming: equal 12.5% odds of landing Lafreniere.SPEEDWAY OWNER-ROPE AD June 27, 2020 Two more players withdrew Friday because of the coronavirus, Denny McCarthy for a positive test, and Bud Cauley, who tested negative but decided to pull out after playing alongside McCarthy on Thursday. In all there have been seven COVID-19-related withdrawals from the tournament. In other developments related to the COVID-19 pandemic:— Cleveland Indians president Chris Antonetti said a “couple” of staff members have chosen not to take part in the resumption of training camp due to COVID-19 concerns. Speaking on a Zoom call Friday, Antonetti did not identify the staffers who have opted out or specify their roles in the organization. He added that he’s unaware of any players declining to participate because of health reasons. Antonetti said the club has spoken to “every high-risk individual” about the risks of returning. The Indians are scheduled to reopen camp on July 1 in Cleveland.— Morehouse College has canceled its football and cross-country seasons because of the coronavirus pandemic. President David A. Thomas said scholarships would be honored. The Historically Black College in Atlanta competes at the NCAA Division II in the Southern Intercollegiate Athletic Conference. In a statement on the school’s website, Thomas wrote about the difficulty in safely travelling and hosting games and events while maintaining social distancing. Share This StoryFacebookTwitteremailPrintLinkedinRedditVIRUS OUTBREAK-SPORTSJason Day asks to be testedUNDATED (AP) — Jason Day asked to be tested for COVID-19 just before the third round of the Travelers Championship in Connecticut. Officials decided to have him play as a single Saturday as a precautionary measure. Speedway loses partnerships after ‘Bubba rope’ postPINE HALL, N.C. (AP) — A North Carolina racetrack has lost some partnerships after its owner advertised “Bubba Rope” for sale. The online ad was posted days after a noose was found in the garage stall of Bubba Wallace, the only Black driver in NASCAR’s top series.The racetrack owner’s post on Facebook Marketplace sparked a backlash on social media and condemnation from the North Carolina governor’s office. The Winston-Salem Journal reports that a concrete company and a driver series have ended their partnerships with the half-mile, dirt track 311 Speedway in Stokes County.F1-HAMILTON-ECCLESTONEHamilton saddened and hurt by Ecclestone’s racism comments — French soccer club Paris Saint-Germain says three players from its women’s teams have tested positive for the coronavirus. PSG said in a statement Saturday that one player from the main women’s team and two players from the under-19 side returned positive results. The women’s senior team is set to resume training on Monday. Earlier this week, PSG said three players from the men’s side and one member of staff were infected by the virus during the lockdown when they were not in contact with each other. PSG said they are no longer contagious and can train as normal.NASCAR-TRIPLEHEADERNASCAR set for Truck, Xfinity, Cup tripleheader SundayLONG POND, Pa. (AP) — NASCAR is set for a tripleheader of racing at Pocono Raceway from three national series on Sunday.Rain has washed out the Truck Series race on Saturday in what was already a packed schedule. Pocono is the site of a Cup Series twin bill, with one race on Saturday and one on Sunday. Carlos, US athletes take stand to end Olympic protest ruleDENVER (AP) — John Carlos wants to abolish the rule that bans protests at the Olympics. The renowned Olympic protester has written a letter with an influential group of American athletes, calling on the IOC to put in place a new policy done in collaboration with athletes from across the globe. Carlos and Tommie Smith raised their fists on the medals stand at the 1968 Mexico City Olympics to protest racial inequality in the United States. They were sent home for violating rules that ban such protests. Those rules remain in place today, though in the wake of global demonstrations against racial injustice, the IOC has recently expressed willingness to rethink them. Referring to the actions of Carlos and Smith, the letter says “It is time for the Olympic and Paralympic movement to honor their bravery rather than denounce their actions.”Carlos joined the leadership of the U.S. Olympic and Paralympic Committee’s athlete advisory council in sending the open letter to the International Olympic and Paralympic committees on Saturday. The letter said the AAC had discussed the issue with the IOC’s athlete commission. WOMEN’S SOCCER-ANTHEM PROTESTNWSL players kneel during the national anthemHERRIMAN, Utah (AP) — Players for the Portland Thorns and the North Carolina Courage knelt during the national anthem Saturday as the National Women’s Soccer League opened the Challenge Cup tournament in Utah. The players wore Black Lives Matter T-shirts in warmups before the game, which was nationally televised on CBS. In addition to the anthem, the players knelt for a moment of silence before kickoff. The teams issued a joint statement saying they wanted to protest racial injustice, police brutality and systemic racism. The NWSL is the first professional team sport in the United States to return amid the coronavirus outbreak. The monthlong Challenge Cup opened Saturday with a pair of games at Zions Bank Stadium in Herriman, Utah. center_img PARIS (AP) — Formula One champion Lewis Hamilton has criticized what he called “ignorant and uneducated” comments by former F1 boss Bernie Ecclestone.Hamilton, a six-time world champion and the only Black driver in F1, was dismayed by Ecclestone’s claim during an interview with broadcaster CNN on Friday that “in lots of cases, Black people are more racist” than white people.On Instagram, Hamilton called the comments “sad and disappointing” and said they “show us how far we as a society need to go before real equality can happen.”Ecclestone made his assertion when he was asked his opinion on Hamilton setting up a commission to increase diversity in motorsport.OLYMPIC PROTESTS-CARLOS LETTER Update on the latest sports Associated Press The Truck Series was scheduled for Saturday and the second-tier Xfinity Series was scheduled for Sunday. The rainout forced the Truck Series to run at 9:30 a.m. Sunday, followed by 225 miles of Xfinity racing and a 350-mile Cup race.NASCAR says it’s the first time three NASCAR National Series races will be raced on the same day at the same track. It will be the fifth time three NASCAR National Series races will be run on the same day but those were at different tracks. The Cup Series race scheduled for Saturday is still on with a green flag start time of 3:54 p.m. Eastern.Sunday’s Cup race comes with a twist. The field will be set by inverting the lead-lap finishers from race No. 1.NHL-DRAFT LOTTERY MLB-DODGERS-TOLES ARRESTEDDodgers’ Andrew Toles jailed in Florida on trespass chargeKEY WEST, Fla. (AP) — Los Angeles Dodgers outfielder Andrew Toles was in jail Saturday, charged with trespassing.The 28-year-old player was detained this week at the airport in Key West, Florida, by a Monroe County sheriff deputy. The Miami Herald reported he was found sleeping behind a Federal Express building at the airport and refused to move.Jail records show Toles appeared to be homeless when arrested Monday on the misdemeanor charge. His bond was set at $500 but he remained jailed and is scheduled for arraignment Thursday. Toles rose from the low minors to the majors in just months and became a postseason star for the Dodgers in 2016. He was the starting left fielder in the second half of 2016 and early in 2017. In May of that year, he tore a knee ligament and spent most of 2018 at Triple-A Oklahoma City. The team said Toles never reported to spring training camp in 2019 because of a personal matter. He did not play that year.Toles struggled with anxiety issues even before the Dodgers signed him to a minor league contract. He was Tampa Bay’s minor league player of the year in 2013 but was released in 2015. He was working the early-morning shift in the frozen-food section of a grocery store before the Dodgers recruited him.last_img read more