The History and Current State of Minnesota's Homeownership Gap
"Homeownership rates remain at historic lows, falling to 63% for the eighth consecutive year of decline and contributing to crowding and rising...
1 min read
Twin Cities Habitat for Humanity : 5:22 PM on July 9, 2012
Historians and journalists say Americans are facing the second worst economic time in recent history (the years of the Great Depression being the worst). It has touched every state and every community in some way— friends losing jobs, neighbors losing homes, and equity in our homes lost. Recovery is slow. Recently, The Minnesota Homeownership Centers’ 2011 report on foreclosures showed the number of foreclosures has dropped when compared to the last four years of sheriff’s sales data, but it is still three times higher when compared to 2005 data. This is a sign we are on the mend, even though we are still feeling the pinch of this economic recession.
I believe that through Twin Cities Habitat’s campaign, A World of Hope: It Starts at Home, we are doing our part to make our community a healthier place. We are playing a role to help in this recovery. With the help of volunteers, donors and community partners, Twin Cities Habitat is leveraging resources to increase the production of homes repaired, preserved and built, as well increasing the number of families reached through mortgage foreclosure counseling and educational programs by 20 percent. Recently, the Twin Cities Habitat Board of Directors decided that after the campaign’s end in 2013, we will serve even more families annually through 2015 because of the insistent need.
With the collapse of the housing market and high unemployment, we are living through economically rough times; this is historical. I wonder what my son, nieces and nephews who are all under the age of nine will learn in school about this recession. When we discuss this, I am glad to have a positive story about Twin Cities Habitat for Humanity’s volunteers, donors and community partners coming together to bring hope to families and to aid neighborhoods seeking to rebuild. When the younger generation asks about this recession, what will your story be?
Thank you to everyone who has stepped up. If you haven’t yet, consider getting involved as a volunteer, donor or advocate. Your support is critical to families and our communities’ health, especially right now.
Your gift unlocks bright futures! Donate now to create, preserve, and promote affordable homeownership in the Twin Cities.
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