Spotlight shines on foreclosure's ripple effects

Star Tribune.  October 10, 2011


Neighborhoods Organizing for Change kicked off the action Monday, releasing an analysis indicating that foreclosures, spurred by banks that offer subprime loans, have cost Minneapolis Public Schools more than $100 million in lost revenue by forcing families to desert the city in search of housing.

Holding signs that read "Bail Out Schools Not the Banks," and "Failed Homes Fail Our Kids," supporters gathered in front of a foreclosed home on Newton Avenue in north Minneapolis to cite the role of foreclosures in the district's enrollment and funding losses. The home is a block over from Lincoln Middle School, one of several district buildings shuttered because of declining enrollment.

"The practices by big banks in communities of color need to change," said Nick Muhammad, lead organizer of Neighborhoods Organizing for Change. "It affects families, it affects housing, it affects schools. A lot of people are too busy in life to connect the dots and see how this really works."

Read the full story at The Star Tribune.

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  • published this page in News at NOC 2012-01-04 20:09:45 -0600

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