Source: Amnesty USA
This is usually one of my favorite times of the year – the holidays are approaching, the aromas of cinnamon, orange and cranberry are in the air and it’s time to rest and watch old movies on TV. One of those old movies invariably on at this time of year still resonates today — It’s a Wonderful Life. In this 1946 Jimmy Stewart film, a small town in crisis comes together to prevent George Bailey, the benevolent loan man, from being imprisoned at the behest of the millionaire slum landlord Mr. Potter.
In the last few days, the U.S. government census figures have revealed that 1 in 2 Americans have fallen into poverty or are struggling to live on low incomes. And we know that the financial hardships faced by our neighbors, colleagues, and others in our communities will be all the more acutely felt over the holiday season.
Along with poverty and low incomes, the foreclosure rate has created its own crisis situation as the number of families removed from their homes has skyrocketed.
Since 2007, banks have foreclosed around eight million homes. It is estimated that another eight to ten million homes will be foreclosed before the financial crisis is over. This approach to resolving one part of the financial crisis means many, many families are living without adequate and secure housing. In addition, approximately 3.5 million people in the U.S. are homeless, many of them veterans. It is worth noting that, at the same time, there are 18.5 million vacant homes in the country.
Read More: Housing: It’s a Wonderful Right