What Will Obama Do About the Housing Crisis in Central Brooklyn?

                                                                                                 

We need to know soon exactly what Barack Obama will do about the subprime crisis that has led to so many foreclosures of homes.

It seems from quick Internet searches that Hillary ("The Frigidaire") Clinton has been more out front on this issue, offering a plan to freeze interest rates and create a multi-billion dollar pool to help those homeowners hard hit by the crisis.

No single community has been affected by this crisis as much as Central Brooklyn, with Bed Stuy/Crown Heighs topping the national list of zip codes with home foreclosures.

This is a crisis affecting many tens of thousands and it is not getting enough attention.

The accompany map here, prepared by the wonderful Neighborhood Economic Development Advocacy Project (NEDAP), shows so clearly how this terrible and painful problem is affecting Central Brooklyn, Eastern Brooklyn and Southeast Queens.

Appropriately enough, the foreclosure-heavy areas are in blood red.

Comments

[Ron Howell]

The idea came to me again a few nights ago as I was listening to Lou Dobbs, who I often find infuriating, but who raised that issue of what the presidential candidates are doing about foreclosures.

He thought none of them was offering anything significant. But someone on the show pointed out that Clinton was tossing out concrete ideas, and I did recall from the debates that her answers on this question were more memorable.

The thing - sub-prime crisis, predatory lending, the bank mess - is so bad and hurting so many people across the country, and especially in Brooklyn, that it does seem to call for a national response.

Ron

[indigenous afrodescendant]

Why are they putting this problem on Obama to fix?
Ask your present elected officials, What are they doing about the problem.? After all they are in office now!