Housing Rights and Homelessness

courtesy of Picture the Homeless

The stock market crash of 2008 left many Americans feeling insecure and unsure of their future. It reverberated through jobs, bank accounts and assets, affecting retirement as well as personal savings. Across the U.S., the housing market crashed as well. The subprime mortgage crisis triggered a nationwide banking emergency, resulting in a steep decline in home prices, and leading to mortgage delinquencies, foreclosures and the devaluation of housing-related securities.

The housing crisis disproportionately affected poor, working class and people of color communities, and led to the foreclosure of five million families’ homes.