The High Cost of Homeownership: The Real Costs, Risks, and Benefits of Low-Income Homeownership

Homeownership is often touted as the most effective opportunity to build wealth over a lifetime. However, working families often find themselves overextended and unable to protect their home in times of job loss, illness, or family strife. In light of the increasing costs of housing, the devastating impact of foreclosures, and the prevalence of predatory lending, are we pushing families too far?

On March 23rd, JOTF, the Baltimore CASH Campaign and the Maryland Asset Building Initiative co-hosted a forum to explore these issues. This forum was the third event in the High Cost of Being Poor Lunchtime Discussion Series. The discussion featured Barbara Aylesworth, Executive Director of Belair-Edison Neighborhoods, Inc. and Lindley R. Higgins, PhD, Applied Research Manager for NeighborWorks® America.

Approximately 40 local non-profit, government, and housing industry workers attended the brown-bag event. The group discussed issues such as preparation for homeownership, foreclosure prevention, and the direction of the sub-prime lending market. The forum took place at the Mid Atlantic District Offices of NeighborWorks® America.

For more information about the event, or about upcoming forums in the series, please contact Andrea Payne at 410-234-8303.

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