|By PR Newswire||
|January 16, 2014 02:53 PM EST||
In the news release, Zillow, National Urban League to Host HUD Secretary Shaun Donovan In Town Hall Meeting on Minority Access to Housing, issued 16-Jan-2014 by Zillow over PR Newswire, we are advised by the company that the percent values in the last bullet point have been revised. The complete, corrected release follows:
Zillow, National Urban League to Host HUD Secretary Shaun Donovan In Town Hall Meeting on Minority Access to Housing
New Research from Zillow and National Urban League Shows Lack of Equality in Housing Market; Blacks, Hispanics Experience More Mortgage Application Denials, Less Overall Home Value Appreciation
SEATTLE, Jan. 16, 2014 /PRNewswire/ -- Department of Housing and Urban Development Secretary Shaun Donovan will answer questions from mortgage applicants, home buyers and homeowners next Wednesday, Jan. 22, at 10 a.m. PST/1 p.m. EST in a live-streamed event. The town hall meeting, titled Building Equality in Housing, will be broadcast from Zillow Headquarters in Seattle, and will include an introduction from the National Urban League.
Zillow Chief Economist Stan Humphries will moderate the discussion. Questions will come from a live audience, as well as from social media. To submit questions, Tweet to @Zillow using the hashtag #BuildingEquality. More information can be found at www.zillow.com/education/HUD.
In conjunction with the event, Zillow and the National Urban League researched trends on minority access to housing, outlining the different experiences between races when seeking a mortgage, buying a home and during homeownership. The report, available here, discovered a number of instances in which minority access to mortgages and homeownership experiences, particularly among blacks and Hispanics, differs greatly from white experiences.
"It's been more than 50 years since Dr. King fought for equality, yet it is apparent that the American Dream of homeownership is not equally shared by all, even today," Humphries said. "Our research shows that minority homebuyers are encountering difficulties that often aren't shared by white homebuyers, and that even after they achieve the dream, they are less likely to see a similar return on their investment. This is an excellent opportunity to learn from Secretary Donovan what the Obama Administration is doing to address these issues."
"As an organization whose legacy and mission enable communities of color to secure economic power and civil rights, the National Urban League has long promoted homeownership as the key to upward economic mobility and financial security," said Marc H. Morial, president and CEO of the National Urban League. "'Building Equality in Housing' is a wake-up call about the hard work that remains to ensure that all Americans achieve the dream of homeownership and begin to build real and lasting wealth."
Findings from the research report include the following:
- Blacks and Hispanics are less likely to apply for a mortgage. While blacks make up 12.1 percent of the U.S. population, they filed 6 percent of all mortgage purchase applications in 2012. Hispanics make up 17.3 percent of the population, but filed 9.4 percent applications.
- In contrast, whites make up 63 percent of the U.S. population and filed 64.8 percent of purchase applications.
- Blacks and Hispanics are much more likely to apply for an FHA mortgage for a home purchase than a conventional loan – more than half of black applicants (57.4 percent) and 60.3 percent of Hispanic applicants applied for an FHA loan.
- In contrast, less than one-third (30.1 percent) of white applicants apply for an FHA loan.
- Blacks and Hispanics are much more likely than whites to have their mortgage application denied. When applying for a conventional loan, black applicants are 2.4 times and Hispanic applicants are 1.98 times more likely than white applicants to be denied. Much of this difference is attributable to the different resources and qualifications of minority versus white applicants, and the research was not able to examine the extent to which discrimination was at play in lending decisions.
- After homeownership is achieved, neighborhoods with high minority populations have faced more overall depreciation since home values peaked. Since peak, home values fell 23.3 percent in neighborhoods with a high black population and 32.6 percent in neighborhoods with a high Hispanic population. By contrast, home values in neighborhoods with high white populations fell 13.4 percent, and in neighborhoods with high Asian populations fell 0.6 percent.
About Zillow, Inc.
Zillow, Inc. (NASDAQ:Z) operates the leading real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products that help people find vital information about homes, and connect with the best local professionals. Zillow's brands serve the full lifecycle of owning and living in a home: buying, selling, renting, financing, remodeling and more. In addition, Zillow offers a suite of tools and services to help local real estate, mortgage, rental and home improvement professionals manage and market their businesses. Welcoming 64 million unique users during its peak month in 2013, the Zillow, Inc. portfolio includes Zillow.com®, Zillow Mobile, Zillow Mortgage Marketplace, Zillow Rentals, Zillow Digs™, Postlets®, Diverse Solutions®, Agentfolio®, Mortech®, HotPads™ and StreetEasy®. The company is headquartered in Seattle.
Zillow.com, Zillow, Postlets, Mortech, Diverse Solutions, StreetEasy and Agentfolio are registered trademarks of Zillow, Inc.HotPads and Digs are trademarks of Zillow, Inc.
About the National Urban League
The National Urban League is a historic civil rights organization dedicated to economic empowerment in order to elevate the standard of living in historically underserved urban communities. Founded in 1910 and headquartered in New York City, the National Urban League spearheads the efforts of its local affiliates through the development of direct service programs; and through the public policy research and advocacy activities of the National Urban League Policy Institute in Washington, DC. Today, there are nearly 100 local Urban League affiliates in 36 states and the District of Columbia, providing direct services that impact and improve the lives of more than 2 million people nationwide.
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
Aug. 24, 2016 04:45 PM EDT Reads: 1,290
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 24, 2016 04:35 PM EDT Reads: 244
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 24, 2016 04:15 PM EDT Reads: 317
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 24, 2016 04:15 PM EDT Reads: 423
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Aug. 24, 2016 04:15 PM EDT Reads: 2,544
To paraphrase someone famous, "The definition of insanity is to do something the same way over and over again and expect a different result". Humans are creatures of habit and when it comes to storage, old habits die hard. Why do we continue to put our faith in legacy storage providers when they haven't invented anything new in decades. Sure, they re-badge their products every couple of years to make their messaging look modern, but ultimately, it's the same old stuff with a new coat of lipsti...
Aug. 24, 2016 04:10 PM EDT Reads: 250
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 24, 2016 03:15 PM EDT Reads: 376
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Aug. 24, 2016 02:15 PM EDT Reads: 1,431
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 24, 2016 02:00 PM EDT Reads: 450
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Aug. 24, 2016 02:00 PM EDT Reads: 1,826
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Aug. 24, 2016 12:15 PM EDT Reads: 1,792
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 24, 2016 12:00 PM EDT Reads: 3,843
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 24, 2016 11:45 AM EDT Reads: 1,433
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 24, 2016 11:45 AM EDT Reads: 3,351
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Aug. 24, 2016 11:00 AM EDT Reads: 2,088