Housing within Corporate Capitalism
sbrownanson - Fri, Apr 23, 2021, 3:06 P
Personal Notes From The Workshop
Hi everyone, I thought I would share the notes I took at this workshop.

Traci Talbert- FCCDC and Bay Path University / Cambridge College
Racial justice community engagement leader for Franklin County
Primary focus is to help business community work on racial justice issues

Capitalism is a system in which policies and laws mainly benefit the owning class. New and old elites use policies within systems to maximize their wealth. This ties into housing as a commodity.

Spent 20 years working in banking industry. Looked into overdraft fees and other banking policies.
Banks made $34 billion in 2017 from overdraft fees (people who literally had no money)
People who lived off of social security, people who lived paycheck to paycheck, people who live in public housing

60% of blacks pay for banking in monthly fees
59% hispanics
22% of white people

Credit scores also important

Average black student has $8k more in student loan debt than average white student

Average black family has zero to negative net worth


NIMBYs say “not happening here”


and Gianpaolo Baiocchi, NYU

If corporate capitalist housing is not good in terms of meeting human needs, what is the alternative?
Failed housing system in the United States - numbers are shocking
Successful system in terms of generating wealth
Public housing was almost designed to fail - underfunded, no middle class in it

Social housing - at least partially decommodified, community controlled, publicly backed

we are at an inflection point in terms of housing policy in this country
we can make a push for another kind of housing policy
1. we are at a generation-defining housing crisis due to number of impending evictions
2. change in the scale of government intervention in the economy
>> intervention in housing needs to be pushed to the left

To explain
2008 housing crisis
banks that made bad deals blamed their decisions on homeowners.
Black homeownership fell a lot, worst since at end of jim crow era

PRIVATE EQUITY buying up houses

2008 now seen as transfer of wealth from poor to the investor class

Eviction moratoria will expire and people will lose housing
20-40 million tenants facing eviction
1 in 4 black and latino families are behind in their rent
also affects landlords

PRIVATE EQUITY will come in and scoop up housing

Proposal: social housing development authority buy “distressed assets” to cut out speculators, rehab them, and then either transfer them to coops, nonprofits, or make it permanently affordable public housing

Municipalities don’t want to be running housing authorities. Ideal would be transferring to some kind of cooperative / collective entity. This will take lots of organizing and education, work to get off the ground.

MJ: Franklin County used to be a leader in cooperative housing. What happened? We should uncover this history, see if we can dust it off and move it along
PV Housing Cooperative
Franklin Community Land Trust