Op-Ed
Beyond the Rhetoric: Dream of Homeownership a Nightmare for Blacks
By Harry C. Alford
NNPA Columnist
Without argument the sub-prime mortgage crisis was the most devastating economic attack against Black America in history. We saw it coming, but did nothing about it. Mainstream banks such as Wells Fargo showed no shame in fleecing Black communities. Fannie Mae and Freddie Mac (two government sponsored enterprises) strayed way off their charters and soaked up severe amounts of risk. It began to crumble in 2008 and within two years, Black America lost more than 35 percent of its collective net worth. The saddest thing is that this fiscal slide has yet to stop for us.
The Dodd-Frank Act, which was supposed to stop the bleeding, has made things worse. Credit requirements and mountains of paperwork are prohibiting much of the Black population from capital access. Mortgages in our communities are still becoming less and less available. The U.S. Department of Housing and Urban Development (HUD) seems to have no focus on this matter. It is sidetracked with looking at housing discrimination. After six years of being under the administration of a Black president, we are worse than ever before.
According to The Joint Center for Housing Studies of Harvard University’s annual “State of the Nation’s Housing, “Overall, home ownership, the cornerstone of the American Dream, is down to 63 percent, a far cry from the 69 percent registered in 2004. Those figures, however, are much worse for minorities, especially Blacks. The homeownership rate for minorities continues to lag: It peaked at 51.3 percent in 2004, and has now fallen to 47.2 percent. Of all minority groups, African Americans have the lowest rate of homeownership, just 43.8 percent.”
It is getting worse. The key to American homeownership were our two Government Sponsored Enterprises (GSE) – Fannie Mae and Freddie Mac. After World War II and the beginning of the mortgage component within the GI Bill of Rights, our nation went into a housing boom and created a viable middle class with home equity being the biggest part of a family’s net worth. This gave Americans a big advantage over people in other nations who had no GSE programs. So now guess what the Obama administration is trying to do? They want to kill Fannie Mae and Freddie Mac. Instead of policing the programs and allowing them to grow back to their former greatness of allowing home mortgages throughout our nation, they want to put a bullet through their heads. This is very serious and it is going through the courts.
It is so serious that the National Black Chamber of Commerce is jumping into the fray. We have filed an amicus, called friend of the court, brief in the federal court of appeals. Here is an overview that we formally submitted:
“Amicus curiae the National Black Chamber of Commerce (“NBCC”) is a nonprofit, nonpartisan organization dedicated to the economic empowerment of African-American communities through entrepreneurship. Incorporated in 1993, the NBCC represents nearly 100,000 African-American owned businesses and advocates on behalf of the 2.1 million Black-owned businesses in the United States. The NBCC has more than 190 affiliated chapters located throughout the nation, as well as international affiliates in, among others, the Bahamas, Brazil, Colombia, Ghana and Jamaica.”
“Because the NBCC is dedicated to creating economically-thriving African-American communities, it is extremely concerned about the prospect that the Federal Housing Finance Agency (“FHFA”) will effectively eliminate Fannie Mae and Freddie Mac. The NBCC believes that without those corporations providing for affordable credit, African-Americans will be disproportionately unable to obtain conventional mortgages. Thus, if the FHFA is allowed to complete its attempted liquidation of Fannie Mae and Freddie Mac, affordable credit may well dissipate for minorities (who already have a very difficult time obtaining loans). The NBCC therefore asks this Court to consider these interests in the course of its deliberations on this case.”
The above is our Statement of Interest portion of the Amicus Brief, which is 18 pages long. We must make all of Black America aware of this. Does the Congressional Black Caucus have a concern? What about all of those Civil Rights organizations that have been around since the beginning of the 20th Century? What is their position on home ownership? How about the National Black Caucus of State Legislators? I don’t find the outrage anywhere.
If the federal government has its way, the future of mortgages will be up in the air. Our subdivisions will turn to blankets of rentals and their values will sink much further than they have already done. That’s why we are fighting this. Our financial future is on the line and it could have a negative impact on the quality of life for our children, grandchildren and their children. We have no choice but to fight.
Harry Alford is the co-founder, President/CEO of the National Black Chamber of Commerce®. Website:www.nationalbcc.org Email: halford@nationalbcc.org.
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Activism
Actor, Philanthropist Blair Underwood Visits Bay Area, Kicks Off Literacy Program in ‘New Oakland’ Initiative
These community activations were coordinated with the San Francisco-based non-profit program “Room to Read.” Ray said he is also donating his time to read and take pictures with students to encourage their engagement and to inspire them to read more. The inspirational book “Clifford Ray Saves the Day” highlights Clifford Ray’s true story of saving a dolphin.

By Paul Cobb
New Oakland Series
Opinion Part 3
The Post mentioned three weeks ago that a number of our local luminaries were coming together to support the “New Oakland” movement. As this current national administration continues to eliminate our “legacy” institutional policies and programs left and right, most communities find themselves beyond “frozen” in fear.
Well, esteemed actor, long-time Bay Area supporter, and philanthropist Blair Underwood returned to Oakland this week to speak with city leaders, community trust agents, students, the Oakland Post, and local celebrities alike to continue his “New Oakland” initiative.
This week, he kicked off his “Guess Who’s Coming to Read” literacy program in some of Oakland’s middle schools. Clifford Ray, who played the center position of the 1975 World Champion Golden State Warriors, donated close to 1,000 books. Ray’s fellow teammate Charles “The Hopper” Dudley also gave Converse sneakers to students.
These community activations were coordinated with the San Francisco-based non-profit program “Room to Read.” Ray said he is also donating his time to read and take pictures with students to encourage their engagement and to inspire them to read more. The inspirational book “Clifford Ray Saves the Day” highlights Clifford Ray’s true story of saving a dolphin.
Underwood also spent quality time with the Oakland Ballers ownership group and visited the amazing Raimondi Park West Oakland community revitalization site. In the 1996 TV film Soul of the Game, Underwood played the role of the legendary first Black Major League Baseball player Jackie Robinson and commended the Ballers owners.
“This group of sports enthusiasts/ philanthropists needs to be applauded for their human capital investment and their financial capital investment,” Underwood said. “Truly putting their money and passion to work,” Underwood said.
Underwood was also inspired by mayoral candidate Barbara Lee’s open-minded invitation to bring public-private partnership opportunities to Oakland.
Underwood said he wants to “reinforce the importance of ‘collaborative activism’ among those most marginalized by non-empathic leadership. We must ‘act out’ our discomfort with passionate intentions to create healthy change.”
Activism
Councilmembers Ramachandran, Kaplan, Unger Identify Funds to Save Oakland Fire Stations
Our budget crisis – one of the worst in Oakland’s history – is compounded by the fact that people do not feel safe coming to Oakland due to our public safety crisis. By investing in our fundamental public safety resources today, we can send a signal to the world that Oakland is open for business. We have such a rich and vibrant culture, arts, and food scene that is worth celebrating – but we can only showcase this if we are able to keep our neighborhoods safe. Having fully functioning fire stations are absolutely essential to these efforts.

By Janani Ramachandran
There is no greater concern to the people of Oakland today than public safety. Fire stations are the bread and butter of essential city services – and every day that we have stations shuttered, we imperil the lives of our community members. In response to widespread outcry over the current and planned closure of stations, myself, along with Councilmembers Kaplan and Unger, have painstakingly worked to identify millions of dollars of new funding to save our stations. The legislation we introduced on Thursday, February 13th, will amend our budget to prevent the closure of four fire stations that are currently on the chopping block due to our budget crisis and will re-open two closed stations that have already been closed – Station 25 and 28 – in the near future. The resolution that will provide the funding to keep our stations open will go before the full City Council for a vote at our meeting on Tuesday, March 4th at 3:30 PM – and we invite you to join us at City Hall to share your perspective on the topic.
Our budget crisis – one of the worst in Oakland’s history – is compounded by the fact that people do not feel safe coming to Oakland due to our public safety crisis. By investing in our fundamental public safety resources today, we can send a signal to the world that Oakland is open for business. We have such a rich and vibrant culture, arts, and food scene that is worth celebrating – but we can only showcase this if we are able to keep our neighborhoods safe. Having fully functioning fire stations are absolutely essential to these efforts.
With the devastating Los Angeles fire at the top of people’s minds, terrible memories of Oakland’s own wildfires are re-surfacing from the 1991 Oakland Hills Firestorm to the Keller fire just a few months ago – and how essential fire stations are to mitigating these catastrophes. But in Oakland, our fire stations don’t just fight wildfires – they also provide emergency medical services to our most vulnerable constituents, put out structural fires and encampment fires, and much more.
We recognize that there are a number of competing interests and important initiatives fighting for sparse City resources. But from my perspective, core safety services are the most pivotal functions that a City must spend its resources on – especially given the outcry we have heard around fire stations.
The fight to save our stations is not over. The resolution we introduced is a critical first step, and there are hurdles to overcome. If you support keeping our fire stations open, we invite you to be a part of the solution by making your voice heard at the March 4th City Council meeting at 3:30 pm.
Activism
NNPA Launches National Public Education and Selective Buying Campaign
“We are the trusted voice of Black America, and we will not be silent or nonresponsive to the rapid rise of renewed Jim Crow racist policies in corporate America,” stated NNPA Chairman Bobby R. Henry Sr. “The Black Press of America continues to remain on the frontline keeping our families and communities informed and engaged on all the issues that impact our quality of life.”
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Washington, DC: The National Newspaper Publishers Association (NNPA), representing the Black Press of America, has announced the planning and implementation of a national public education and selective buying campaign across the nation in direct response to those corporate entities that have dismantled their respective Diversity, Equity and Inclusion (DEI) commitments, programs and staffing. NNPA Chairman Emeritus Danny Bakewell Sr. explained, “Now is the time for the Black Press of America once again to emphatically speak and publish truth to power.”
“We are the trusted voice of Black America, and we will not be silent or nonresponsive to the rapid rise of renewed Jim Crow racist policies in corporate America,” stated NNPA Chairman Bobby R. Henry Sr. “The Black Press of America continues to remain on the frontline keeping our families and communities informed and engaged on all the issues that impact our quality of life.”
At a recent convening of NNPA member publishers and editors, a united resolve was reached that each member publication of the NNPA will begin a national public education campaign coupled with the release of research data on those American companies that are engaging in efforts to sanction racial injustice, inequitable polices, divisive leadership, and economic apartheid in America.
“We note forthrightly that Black Americans spend $2 trillion dollars annually as consumers of products and services throughout the United States,” NNPA President and CEO Dr. Benjamin F. Chavis Jr. emphasized. “We now must evaluate and realign to question why we continue to spend our money with companies that do not respect us,” Chavis continued. “This now must come to an end. These contradictions will not go unchallenged by 50 million Black Americans who have struggled for centuries to ensure equality, fairness and inclusion in our nation’s democracy.”
A selective buying campaign involves exercising the right to select what we spend our money on and who we spend our money with. We are starting with targeting TARGET.
The following are some of the major American companies that have publicly retreated from Diversity, Equity and Inclusion:
- TARGET
- Lowe’s
- John Deer
- Walmart
- Meta
- Tractor Supply
- Amazon
- McDonald’s
- Ford
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