The PIN Magazine March 2020 by The Power Is Now Media Inc.

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FROMtHEEDITOR

elcome to Spring! I am glad Spring is here. Maybe the warmer weather will kill the Coronavirus virus and calm everybody down. Right now, we need to summon the spirit of FDR who said, “The Onl y Thing We Have to Fear Is Fear Itself”. Granted he wasn’t dealing with a Pandemic, but the Great Depression was an economic pandemic if there is such a thing. Aren’t you tired of hearing about the Coronavirus Virus in the news? If you are infected with the Virus, then I can understand why you would be paying attention. There literally is no cure for the disease officially but there are new drugs that may be able to stop the disease from spreading. We will see.. At first, I thought it was just an aggressive form of the flu. The President called it Flu on Steroids. Now we are hearing that it is much more serious than a Flu on Steroids and that many people have died and are dying. So, no kissing, hugging, touching, or breathing. Ok, you can breathe but be careful where you are breathing. Wearing a mask doesn’t work unless you are sick with the virus already. The Coronavirus has even affected my editor’s note. Did I begin with Welcome to Spring? Spring is here folks! Despite all the fear and drama in the world, work, home, and the nightly news. I used to like Lester Holt, David Muir, and Norah O’Donnell. Norah is new to the group but now I am done with them all. Every night the lead story is COVID 19. I think I have a sore throat just from watching the news. I hope it is not the virus. Seriously, the news is messing with our minds. Did I say Welcome to Spring? I love seeing the flowers and trees bloom. People are out in their yards planting flowers and trees and getting ready for the summer. Life is good in the spring until it is not. I didn’t expect the Coronavirus Virus to turn the world upside down. The Virus has dominated the news and fear is spreading like a wildfire all over the world. Countries and Cities are shutting down. Have you heard what has happened to Italy? It’s a ghost country. Everyone is staying inside. China will soon be under Marshal law. But will that be a big change in life when you live in a communist country lead by a totalitarian regime? Probably not. China 4

THE POWER IS NOW MAGAZINE | MARCH 2020

and the people of China are on lockdown. Travel is being restricted to many places in the world by businesses and now by the Government. Businesses are closing. How do we work? Are we in trouble? Is this a pandemic yet? Should we run for the hills or barricade ourselves in our bunkers (those of us who have bunkers). Is this it? I hope not. I don’t even have an updated first aid kit or enough bottled water in the house. I stop buying water bottles after watching a YouTube video about all the plastic in the ocean. I am working on my emergency plan this weekend, but I am not sure where I am going to find toilet paper. You see! I can’t even stop writing about it. This Editor’s Note is now fully infected by the virus. Stop reading now and move on to the articles in the magazine. March is named after Bruno Mars, lead singer with the band the Hooligans. Just kidding. It’s named after Mars in both the Julian and Gregorian calendars. It is the second of seven months to have a length of 31 days. You must be very cool to be born in any month that has 31 days. I am certain that it means something great in the universe to be born in a month with 31 days. We need to get all the 31-day babies together and find out. I am sure there is a longitudinal research study funded by Bill Gates somewhere in the world that is looking into out how special these people are. March is also the start of buying and selling season. So, get ready to buy your first home, investment property or just move up because you can. Owning your home is not enough. It is just the beginning. Build wealth with Real Estate and leave it for the grandkids. They may not be able to afford to buy a home 10 to 30 years from now. Look at the price of real estate today. I can’t imagine even 10 from now. COVID 19 will slow things down for a few months. The stock market has reacted to the Virus and continues to behave like a roller coaster by reacting to every news story and death toll reported every day. If you are day trader or have money to burn it is time to buy because this too will pass and the markets will normalize. The Federal Reserve has gotten into the act and has lowered the discount rate. This may help if the banks can keep their employees on the job safe from the virus and be able to lend money. I am working from home these

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days. Some Bank Branches are shutting down because an employee has contracted the virus. The President and Congress are getting into the act and approving many measures to keep money flowing and businesses going while we all hunker down. Billions will be spent fighting this virus and this is going to show up in the congressional budget with both political and economic consequences. The next shoe to drop will be real estate prices and interest rates. Expect the media to hype this up as well and add more worry and concerns that consumers already have about the virus impact on the real estate market. Consumers will slow down or stop altogether until they see how this all pans out. With a decrease in demand for homes, prices will fall but lower interest rates may also increase demand. It’s about time we have a buyer market if prices drop, but I don’t think anyone wanted it to happen this way. With the market retreating bond yields may fall sharply and this will cause interest rates to fall sharply. Expect to see 0 to 200-point movements daily in mortgage back securities making it impossible to predict how low or high rates are going to go. My recommendation is that you lock your rate if the payments work for you. Don’t get greedy. Oh yes. I almost forgot that it’s Woman Month. You see what the virus is doing! March, with all its beauty, is dedicated to all women. March is International Women’s month, celebrated on 8th and mothering Sunday on the 22nd. 2020 marks exactly 102 years of women’s suffrage. We thought it fitting to devote this issue to inspirational mothers, sisters, grandmothers, aunts, nieces, daughters and all incredible women in our lives. To all the women in the world, forget for a moment about COVID 19, this one for you. Speaking of inspirational women, Hillary Clinton urges all women to “never doubt that you are valuable and powerful, and deserving of every chance and opportunity in the world to pursue and achieve your own dreams.” In keeping with the month’s theme, we have been busy profiling women who have made a difference in our country in the ranks of politicians, mayors and chiefs of police especially women of African American descent. Grab a warm cup of coffee or tea, and put your feet up and read. In this issue, we are not addressing any more of the COVID 19 drama because we frankly do not know what is really happening or what is going to happen. The lack of transparency about the real numbers of people affected and the global impact the Virus is having on the world economy will have repercussions for years to come. We will eventually find out, but until then my editor’s note will have to be the final word. Enjoy the issue and thanks for sharing our magazine.

ERIC L. FRAZIER MBA President and CEO The Power Is Now Media, Inc.

THE POWER IS NOW MAGAZINE | MARCH 2020

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TABLE OF

CONTENTS

the power is now

magazine

10. This is how California is winning in environmental sustainability and innovation 14. Budgeting for your homeownership 18. New Trump rule could eliminate food stamps for almost 200K Californians 22. Jeanne Radsick, 2020 C.A.R. President 28. California voters could sanction cities for not housing the homeless 32. GDP may slow down in 2020 due to effects of COVID-19 38. He was/is big on housing, had a brilliant plan, but it failed! What does he do now? 42. Homebuying season started early this year 48. Homebuying goes mobile. Tips to help you hunt for your house using mobile 50. Let’s explore in detail the 1619 project 58. How safe is Vallejo housing market 62. 60 apartments with rents as low as $400 coming to Fontana 66. The impact of completion of $73 million interchange improvement project on Real Estate developments in Corona 70. Los Angeles county mortgages are 8

“seriously” underwater 74. Bay area housing crisis. We now have a rich people and poor people zone 78. Riverside county homebuying jumps 18 as prices rise 6.9 80. About Corona 84. Moms for housing might have inspired a shift in Oakland’s Real Estate 88. Coronavirus, everything you need to know and more 94. Millennials want to buy but they can’t trust lenders or the housing market 98. The State Department of Justice to review LAPD for an alleged misuse of CALGANG database THE POWER IS NOW MAGAZINE | MARCH 2020

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This Is How California is Winning in Environmental Sustainability and Innovation

even years ago, California drafted an action plan that would pave way for a new generation of homes and last month, we covered these homes in detail, what they are and their impact on socioeconomic balance to the people of California. Well, the efforts to make sure that California is sustainable and energy sufficient are just getting started. Governor Gavin Newsomâ&#x20AC;&#x2122;s (D) 2020 10

budget proposes to include a $1 billion, four-year program that encourages new approaches to protecting the environment. The plan involves providing low- or no-interest loans to small businesses, this will make capital more accessible to companies, nonprofits, and communities that have innovative climate change combat ideas, but have no funds or financial muscles to pursue them. The proposal is meant to

THE POWER IS NOW MAGAZINE | MARCH 2020

encourage small players with smart ideas to fight the climate crisis. The Climate Catalyst Revolving Fund would provide seed money for the small players with novel ideas on; environmental infrastructure, climate-positive land use, and low-carbon transportation. Supposing the program spurs an environmental innovation and makes California more carbon-neutral, it could be replicated elsewhere which is a good thing because right now, the world needs saving. “California is the world capital of innovation,” Newsom said in a statement. “But as we grow, we must demand that the benefits of this growth be widely shared by workers and small businesses — not just those with access to huge amounts of capital. This fund aims to level the playing field as we build a greener, cleaner economy.”

“We’re a leader state on many issues,” Kathryn Phillips told WhoWhatWhy. “If we can make a loan fund with substantial money from the state work in a way that gets a real reduction in climate pollution, then that is a model that can be used in other places.” “This is a pretty clear demonstration that Newsom is very committed to finding solutions that will help us accelerate climate-pollution reductions,” said Phillips. What I love about this plan is that the loan will use a “revol ving plan” structure. This simply means that the earnings from successful loans will be used to fund new projects, creating an expansion room for the fund to increase in future investment opportunities. The loan will be financed through the California Infrastural and Economic Development Bank. Over the next 5 years, the total investment in environmental projects will be 12.5 billion, including $66 million to protect fish and wildlife, $35 million to clean up Tijuana river and millions more for other environmental-related projects, like smart climate agriculture, outdoor education, state parks, groundwater management planning, fish hatcheries,

This is an ambitious goal for the state which has aimed to be carbon-neutral by 2045. Such a boost would help cultivate new technologies to reduce the release of carbon dioxide and other emissions, as well as find new ways to capture greenhouse gases so that the state achieves a zero net release. WWW.THEPINMAGAZINE.COM

pollution-capture devices, and disaster relief services. “As a responsible member of the global community, the state must reduce climate risk, especially in the most climate-vulnerable communities,” the budget states. In efforts to arrest climate change, California is already a global leader. However, this new proposal by the governor fills in a different

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role according to Kirsten Snow Spalding, the director of the investor network for Ceres. While she agrees that the cap and trade dollars have helped pay for significant projects in some targeted communities, this new funding could actually bring up infrastructure projects, for instance far enough along for other investors to feel the need to step in. “For institutional investors, there’s some risk in investing in climate solutions,” Spalding said. “Having the revolving loan fund will help incentivize private money to flow into infrastructure and projects.” Even though the state has made some remarkable progress, the efforts fall short because the beneficiaries are limited to only a few sectors, such as the large-scale generation of solar power for wealthy households. This is where this proposal is different because it focuses primarily on making innovative climate solutions accessible to everyone and to increase involvement by the private sectors. “We need to do this as a whole world, but the good news is that California hasn’t waited for the whole world to take action,” said Phillips. “We’ve been a leader and created our own path.”

Sources & Work Cited https://whowhatwhy.org/2020/01/11/california-budgetproposal-includes-1-billion-green-loan-fund/ https://www.kqed.org/science/1955578/california-climatebudget-to-include-1-billion-green-loan-fund

THE POWER IS NOW MAGAZINE | MARCH 2020

Budgeting for your Homeownership

hy is homeownership considered one of the biggest risks a person could ever make?

Homeownership has its many advantages, and before you get your keys to your brand new home, the process is painful and tiresome. First, homeownership comes with a lot of new expenses you didnâ&#x20AC;&#x2122;t know about as a renter. Therefore, it is important to learn how to create your budget, in the end, it will be worth it. While renting, you may be carefree with your finances and avoid budgeting, you donâ&#x20AC;&#x2122;t have to worry about paying any property taxes or insurance. Owning a home will change that completely. As a homeowner, one thing you will notice is that your spending habits will change. Your monthly spending starts with a check to pay for the mortgage. In a month, your mortgage payment 14

typically may be your biggest expense and is considered by many to be the most important payment after all who would want to lose a roof over their head? To be able to manage your finance frugally, you have to know how to budget which ultimately ensures that all of the expenses of homeownership are catered for. Purchasing a house will take a toll on your bank account both on the day you decide to close the transaction and every month that follows with recurring home expenses. Many first time homebuyers have this notion that once they settle the downpayment on their home, the only thing left to worry about is the mortgage payment, which they think is a regular cost. There are THE POWER IS NOW MAGAZINE | MARCH 2020

so many other expenses that makeup homeownership. Even while in the budgeting stage, there is a rule you are not supposed to ignore, never budget or purchase a house that you cannot afford. However, the term â&#x20AC;&#x153;affordableâ&#x20AC;? will differ from one buyer to another. Some buyers will buy on the high end of the list price and some others will buy on the lower end. Figuring out your affordability will require more than getting a preapproval letter from your mortgage lender. I have worked with a lot of first-time homebuyers and one thing I have noted common to them all is that they tend to shop on the amount a lender is willing to advance them, not considering other expenses, which eventually sets them on a financial hardship, even a potential foreclosure when they fail to afford a monthly payment to service their mortgage.

Follow a rule One of the easiest rules that have always worked is the 25% rule. It is easiest to calculate your homebuying

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budget. Basically, it dictates that your mortgage shouldnâ&#x20AC;&#x2122;t be more than 25% of your gross income each month. Others will suggest the 50/30/20 rule. 50% of your household income goes to your needs, 30% to your wants and 20% to debt repayment and savings. The FHA is known to be generous, allowing their consumers to spend up to 29% of their gross income on a mortgage. However, that should not blind you to forget that you have some other debts, you have to consider them and add them to your mortgage payment which will help you determine what you can truly afford.

Homeownership is not just about mortgage The expenses for homeownership goes beyond the mortgage. You should always remember that. You may have already been covering other household expenses, for instance, the utility bills, with homeownership, be prepared for many other homeownership costs. Getting preapproved for a loan is one of the most important steps in homeownership, but it is not the only consideration. Some of the expenses you should be prepared for are; real estate taxes and homeowners insurance; homeowners association; and home maintenance and upkeep. All of these costs and other outlays have to be considered when

determining how much home you can afford. These expenses can add greatly to the monthly outlays, making a rather affordable home pricier.

Consider your Downpayment You should know that downpayment should lay out terms of the purchase. In most cases, the lenders are looking for a person who can be able to provide 20% of the purchase price in cash. However, with The Power Is Now VIP agents, you don’t have to have a down payment. Our VIP agents will work with you even if you don’t have the downpayment. Find out more here. For most other lenders, people having low downpayments often must also shoulder the extra expenses of private mortgage insurance (PMI). PMI means that the monthly mortgage payment will go up by anywhere from 0.3% to 1.2% of the loan. To determine your PMI, a lot has to be taken into account, from your credit score, the size of the home and the potential of the property to appreciate among many other factors. The more you can swing on your downpayment, the lesser the interest rate you’ll pay over the life of the loan, the opposite is true.

The amount you put up for your downpayment should also influence the house you buy. If you have enough to meet the 20% downpayment on the home but 10% on another, then go for the cheaper one.

Choose a Property you’re Comfortable With When considering the affordability of a house, you have to consider the state of the house and the size of the property. Remember that large isn’t always good. Factor everything especially the utility bills for the property you’re considering and have a construction expert estimate the fixing costs if any needed. While homeownership is part of the American dream, it can quickly turn into a nightmare if you do not budget properly.

Resources https://thepowerisnow.com/vipagentsservices/ Sources; https://www.investopedia.com/personal-finance/how-setbudget-your-first-home/ https://www.landmarkhw.com/resources/buying-sellinghouse/budgeting-for-homeownership/7/99 https://www.nerdwallet.com/blog/finance/budgeting-fornew-homeowners/

THE POWER IS NOW MAGAZINE | MARCH 2020

[POWER ECONOMICS]

NEW TRUMP RULE COULD ELIMINATE FOOD STAMPS

FOR ALMOST 200K CALIFORNIANS

n December last year, the Trump Administration finalized a new rule that could potentially cut off food stamps to roughly 688,000 American Adults. The new rule requires the states to enforce work requirements. Currently, states can grant the Supplemental Nutrition Assistance Program (SNAP), or food stamps benefits to adults who do not have steady jobs. The Agriculture Department said that the move will save

about $5.5 billion over a 5-year course. The rule will take effect starting in April 2020. “This is about restoring the original intent of food stamps,” said Agriculture Secretary Sonny Perdue on a call to reporters. “Moving more ablebodied Americans to selfsufficiency.” According to Urban Institute estimates, in California, about 200,000 people stand to lose their assistance and benefits in

Currently, there are about six California Counties; Alameda, Contra Costa, Marin, San Francisco, Santa Clara and San Mateo that have received waivers through August 31, 2020. Fresno County has waived the limits for the past two decades. This new rule makes it harder for the counties and states to drop the requirement. This means that a city or a county will need an unemployment rate if 6% or more, as well as the approval from the governor to qualify for a year’s exemption. Since Fresno’s unemployment rate was 5.8 percent in October, the county qualified the year-long exemption. “It will require almost every county to enforce the harsh time limit on providing nutrition assistance for adults who are working less than 20 hours each week, no matter how hard they are looking for a job, have irregular schedules, or are employed but unable to document their hours,”

buying food. The law states that ablebodied adults without children or people depending on them, working less than 80 hours a month or in certain training or volunteering activities qualify for three months of food stamps every three years. The states and counties are at liberty of abdicating the period limits, for instance, when unemployment rates are high.

said Jessica Bartholow, policy advocate at the Western Center on Law and Poverty.

California Joins 13 Other States to Stop The Rule In January, fourteen states including California filed a suit against the rule. “No one should have to choose between a hot meal and paying their rent,” California Attorney General Xavier Becerra said in a statement. “Yet again, the Trump Administration has failed to offer any legitimate evidence to justify decisions that have real consequences for the health and well-being of our residents.” In their suit, the states are claiming that the Trump administration failed to follow the steps required to enact such a rule. The rule is the

THE POWER IS NOW MAGAZINE | MARCH 2020

latest in a record of 65 lawsuits that Bacerra has brought against the Trump administration. The Social Services agency and county welfare department have been preparing people for a contingency in case they lose their monthly grocery money form the Federal SNAP. In California, it is known as CalFresh. Meanwhile, the state lawmakers have been floating possible workarounds.

It is Cruel and Illegal The U.S Agriculture Secretary Sonny Perdue said that the rule will restore the original intent of the food stamps; “self-sufficiency.” “We need to encourage people by giving them a helping hand but not allowing it to become an indefinitely giving hand,” Perdue said in a statement. However, the anti-poverty advocates in the state rejected the claim that limiting the food stamps will encourage people to work more. In fact, they went on to cite evidence that food stamps work requirements have

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failed elsewhere. The initial proposal sparked a debate with more than 140,000 public comments, many calling the move outdated and cruel. The Attorney generals agree that the rule violates the Administrative Procedure Act which lays out the steps, including notification of the public and comment periods required to make the rules. With this rule, the government did not adequately assess the impact of the rule, or how to mitigate its effects. The states also argue that the rule defies a policy that has been there for quite some time and the original intent of the work requirement law by eliminating the states’ ability to decide whether childless adults must work given the local labor market conditions. “The Rule unequivocally runs afoul of Congress’s intent to ensure food security for low-income individuals and to permit States, who have a better understanding of their labor markets and economic conditions, to apply for waivers and use exemptions where local or individual circumstances warrant relief,” the lawsuit states.

Who Would Be Most Affected In its first year after effect, more than 55,000 Californians are expected to lose the benefit which amounts to more than $100 million in lost benefits. According to the lawsuit, women and the people of color will be mostly affected as they are more vulnerable and face higher barriers to unemployment. The National Underemployment Data reveal that Black adults are nearly twice as likely as their white counterparts to be out of a job or working part-time even though they’d prefer full-time schedules. Hispanics, people without a high school degree and adults under 24 also face a higher rate of underemployment. This rule would not leave them out. Other people who might also be affected are the homeless, veterans, people recently out of jail or prison and former foster youth. For some people, having to prove working 20 hours per week may be hard.

“They will have to go through a lot of hurdles to verify eligibility,” Bartholow said. “A lot of people don’t work in places that regularly provide a printed time-sheet.”

Sources and Works Cited https://calmatters.org/california-divide/2020/01/californiasues-trump-food-stamp-cuts-abawd/ https://calmatters.org/california-divide/2019/12/newtrump-rule-could-cut-food-stamps-for-almost-200000californians/ https://abc7.com/5734839/

THE POWER IS NOW MAGAZINE | MARCH 2020

C OV E R S T O RY

Jeanne Radsick 2020 C.A.R President

eanne Radsick is the 2020 C.A.R President. She has 30 years in real estate veteran with century 21 Jordan-Link & Company in Bakersfield, California. Jeanne has also served at the local, state and national levels of organized real estate. She resides in Bakersfield, California with her husband, Michael of 43 years. Together, they have raised seven beautiful children and 11 grandchildren. Jeanne has always had a career outside her home and has been very successful in her business since entering the real estate industry in 1987.

2020 C.A.R President-elect Radsick has been in C.A.R as a director since 1996, serving on such committees as Membership, Local Government Relations, IMPAC Trustees, MLS Policy, and Federal Issues and served as Vice-chair of Land Use and Environmental and Legislative committees. She has also served several terms on the Strategic Planning and Finance Committee, including one term as vice-chair. California Association of Realtors is a statewide trade association dedicated to the advancement of professionalism in real estate. C.A.R develops and promotes programs and services that enhance the membersâ&#x20AC;&#x2122; freedom and ability to conduct their individual businesses successfully with integrity and competency and through collective action promotes the preservation or real property rights. The 2020 team was installed in November 2019 and serving alongside Radsick are president-elect Dave Walsh, Treasurer Jennifer Branchini and Chief Executive Officer Joel Singer.

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At the national level, Radsick has served on the National Association of Realtors Board of Directors since 2003. She served on NAR’s Land Use and Environmental and Conventional Finance committees and chaired the MLS Policy and Technology and Emerging Issues committees. Radsick also served on a Mergers and Acquisitions Task Force relating to the MLS. At the local level, Radsick has been involved in many aspects of the Bakersfield Association of REALTORS®, having served as its president in 2000. She is currently a trustee of the local association’s Charitable Foundation, a member of the Local Candidate Recommendation Committee and recently completed an extended-term on the Strategic Planning and Finance Committee.

Issues Jeanne Is Passionate About Jeanne’s Advocacy and Education Efforts During her time as a REALTOR®, Jeanne was deeply involved in advocacy and education, greatly as a result of her father’s influence. She has never been one to be afraid to roll up her sleeves and take on hard issues. She is always optimistic and willing to do the work that needs to be done. Service and volunteerism are important cornerstones of her life. Jeanne has served at the local, state, and National levels of organized real estate and has also demonstrated her leadership by giving back to her community in many ways. Her long service record and leadership roles speak for themselves. Jeanne knows that if we want our industry to continue to grow and thrive, we must be vigilant about recognizing the dangers and threats to the industry and stay on the forefront of advocacy, education, and ethics. The real estate industry will continue to have challenges as we move forward, and organized real estate must be willing to transform as necessary to keep up with the outside competition. Jeanne is a proven leader that possesses the

skills, experience and work ethic to lead the California Association of REALTORS®. If given the opportunity, she will undoubtedly lead by example and inspire others by demonstrating thought leadership, professionalism, resolve, and courage.

Leadership Jeanne has been the director for the National, State and Local Associations including the National Association of Realtors, California Association of Realtors. She has served in the director forum for both C.A.R and NAR. In 2016, Jeanne was appointed in the California Association of Realtors affordable housing taskforce. The task force was formed in August 2015 to examine existing policies in California designed to expand the availability of affordable housing and to make recommendations to increase the availability of affordable workforce housing in California. Apart from her role in affordable housing taskforce, Jeanne has served in the C.A.R federal political coordinator to congressman Kevin McCarthy and also served in the C.A.R strategic planning and Finance. Radsick has also been a director for zipLogix™.

THE POWER IS NOW MAGAZINE | MARCH 2020

premiums or outright refusing to renew policies in fire-prone areas. C.A.R. has prepared materials to keep your clients informed about how to protect their homes, keep their current insurance coverage and find new coverage if necessary.”

What about the Housing Crisis in California?

zipLogix™ is a software application that helps store and organize documents for real estate professionals. Today, zipLogix™ has a large family of digital products that are recognized by industry standards for electronic real estate forms and transaction management.

Her Take on C.A.R Jeanne truly believes that the California Association of REALTORS® and its members are one of the most forceful and respected groups within the real estate industry because of the passion from every corner of our organization. REALTORS® are natural leaders who seek to do what is right for the future of homeownership, our communities, and the clients we serve. Jeanne will bring an unparalleled passion for the business, undergirded by a corresponding vision.

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Moving Forward “Our industry has some clear challenges ahead of it including a shifting market, an unpredictable state legislature and an affordability crisis that won’t abate. But as long as REALTORS® show up, participate and learn, I’m confident we can succeed. I’ll be joined by a very talented 2020 Leadership Team comprised of President-elect Dave Walsh, Treasurer Jennifer Branchini, and C.A.R. Chief Executive Officer Joel Singer. I plan to work with this team to ensure that C.A.R. is focused, relevant, and ready to execute. I’m looking forward to serving you with this incredible team.” Jeanne says that as the 2020 C.A.R president, fire insurance will be at the top of her agenda “our state has recently suffered another outbreak of wildfires throughout the state. I’m sure you know that insurance companies are raising

“As I mentioned earlier, there’s no immediate end to the state’s housing affordability crisis, so C.A.R. is continuing to fight for the only real solution to the crisis — increasing supply. REALTORS® plays an essential role in this fight. It’s imperative that legislators, our clients, and the public hear from us so that the Legislature and the governor take decisive action to build more housing. Please join us in this important fight by adding your name to our “Let’s Get Serious” on supply petition so that lawmakers know that it’s critical to take action IMMEDIATELY. Our state’s future depends on it.”

Sources & Works Cited http://www.jeanneradsick.com/bio. html https://www.car.org/aboutus/ carleadership http://www.tahoemls.com/a-messagefrom-c-a-r-president-jeanne-radsick/ https://www.car.org/aboutus/ carleadership https://www.car.org/en/aboutus/ mission

CALIFORNIA VOTERS COULD SANCTION CITIES

FOR NOT HOUSING THE HOMELESS

oters will no have to decide if California cities will be punished for not reducing the growing rate of homelessness. The public and political pressure on housing and homelessness have been increasing over the recent past, and to counter the challenges, Gov. Gavin Newsom appointed a task force recommending that the local government face tough new legal sanctions for failing to make

progress, especially on homelessness. The 13-member Council of Regional Homeless Advisors led by Sacramento Mayor Darrell Steinberg and L.A. County Supervisor Mark Ridley-Thomas wants the legislators to amend the California Constitution to make the policy legal and enforceable. They want to present it to the voters as a statewide ballot measure in November.

they do not get people off the streets, including a possible loss of local control. “We’ve tried moral persuasion. We’ve tried economic incentives,” Steinberg said. “But all of it’s optional. Why should this be optional? It shouldn’t be. It mustn’t be. Thousands of people are dying on the streets, and people are telling us this is a priority.”

If the legislature is approved by the voters, the mandate would be to allow the state to sue the cities and counties, even itself, if the number of homeless people doesn’t

decline. The council argues that the state needs to carry a big stick to convince the local governments that they will face consequences in case

The members of the task force are yet to disclose exactly what the sanctions would be or would look like, however, we speculate that the cities could lose control over how they spend state funds locally. The Gov agrees with the recommendations but

THE POWER IS NOW MAGAZINE | MARCH 2020

he says he would like to see it tested in a pilot program first. “It is a tectonic shift in the way we’ve done things. I’ve learned — and you’ve probably heard me say this — there is an old wonderful African proverb that says ‘if you want to go fast, go alone if you want to go far, go together,” Gov. Newsom

homelessness and affordable housing initiatives. California leads the homeless count. From 2018 to 2019, the percentage of homeless people jumped by more than 16 percent to about 151,000 people according to the Department of Housing and Urban Development.

This proposal is certain to stir controversy both at the capitol and with the local governments across the state. However, Steinberg maintains that the mandate is necessary because of the overlapping and convoluted systems of care that at times have differing goals and approaches. The money meant to care for the homeless people is split between elected officials in cities and counties and the administrator of “continuums of care” - the local and regional agencies created to handle funding and organize the distribution of services for the homeless people. This proposal comes after the governor proposed a 1.4 billion in new funding in his 2020-21 budget in a bid to fight homelessness. Within the next couple of months, another 640 billion from last year’s budget is expected to flow into the county governments to support

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Sources & Works Cited https://blackvoicenews.com/2020/01/24/california-voterscould-sanction-cities-for-not-housing-the-homeless/ https://www.latimes.com/california/story/2020-01-13/ homeless-housing-task-force-california-constitutionalamendment

[POWER ECONOMICS]

GDP MAY SLOW DOWN IN 2020 DUE TO EFFECTS OF COVID-19

he first quarter of 2019 was marked by considerable strength, but ever since, the pace of the real gross domestic product has seen some modest slow down rate. While the labor market remains healthy, as the number of job openings continues to outpace the number of unemployed people the same cannot be said of inflation in the country. By contrast, inflation (measured by the all-items personal consumption expenditure price index (PCEPI) has remained relatively low. All through September of 2019, the inflation rate was 0.5 percent below the 2% inflation target of the Federal Open Market Committee (FOMC).

Although the economy is exhibiting some trend-like growth, many businesses in the country continue to face brisk headwinds related to the trade tensions with China and slowing global growth. The FOMC in response to this situation reduced the federal fundâ&#x20AC;&#x2122;s target range by about 75 basis points in 2019. But still, at the time, the general consensus of professional forecasters is that the GDP would dip below 2% in 2020 and that the inflation would modestly move closer to the Fedâ&#x20AC;&#x2122;s targeted rate. Leave alone the tussle between China and the U.S, what the Fed did not count on is the Corona Virus! Back in 2018, the GDP slowed to a three year low in the fourth quarter, and everyone started talking about the possibility of a recession. Well, this year, a remix of the same could be happening sooner. The GDP growth in the first quarter of 2020 will probably slow down to 1.5% from 2.1% in the last quarter of 2019. This will be the weakest pace since 1.1% at the

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end of 2018. For the rest of 2020, GDPs growth will most likely average at or above 2% if the Coronavirus does take an unexpected turn. “The risks just keep on coming,” the report said. “The emergence of a novel coronavirus out of China introduces new uncertainty.” The feds are expecting an economic slowdown, characterized by a contraction of two consecutive quarters of GDP. I don’t think this will still be enough to prompt the FOMC to cut the lending rate that’s used as a benchmark for the investors in bonds including the mortgagebacked securities. But, this is the Fed we are talking about, anything can happen. “The virus’ emergence and lengths being taken to curb its spread increase the chance the Fed will need to become more supportive in the coming months,” the forecast said, referring to the partial shutdown of the Chinese economy ordered by authorities trying to contain the spread of the coronavirus. “If the virus is not contained, we would expect the FOMC to cut rates again.” “With the virus occurring around the time of the Chinese Lunar New Year, a time of the year when travel to and from China is elevated and consumer spending is most prevalent, concerns over the impact on the Chinese economy have grown,” the Wells Fargo economists said. “Factory closures have been extended beyond the Lunar New Year holiday, generating disruptions to global supply chains, while travel within and from China has been curtailed.” Remember the SAR outbreak in 2003? Well, it chilled out the global economy and some similar effects might be experienced if the situation gets out of hand. China accounted for about 4% of the world’s GDP, today, China’s economy has expanded to about 17%. But, if the contraction in China’s economy happens, it might help the U.S economy in a way- improvement in the U.S. prices for Gasoline. When people save their expenditure on gasoline, they tend to spend that money on other things that account for about 70% of the U.S. GDP.

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“Real consumer spending in the first quarter should get a lift from lower gas prices as China’s weaker growth outlook has sent oil prices to the lowest level in over a year,” the economists said. So far, economists are seeing an impact of Covid-19 on travel, there isn’t a huge impact on economic growth from Corona Virus which has infected, at the time of publishing this article, about 77,925 people. Though it is too early to tell, it may some impact, but it is still difficult to quantify its impact. “We’ve got the hit from Boeing coming and the uncertainty is how much of a blow will the coronavirus have on manufacturing. How much of a direct impact will it have on demand in China and the spillover effect for the rest of the world? It looks like we’ll get less than 2% growth in the first quarter.,” said Diane Swonk, chief economist at Grant Thornton. “The problem is how much below 2% is in the mostly unknown parts of the equation.” She said clearly the virus will have some impact on the service sector in the U.S., since airlines are already cutting back on flights and people are curtailing travel.

Sources and Works Cited https://www.cnbc.com/2020/01/30/economic-growth-lookseven-weaker-this-quarter-with-virus-now-a-wild-card.html https://www.housingwire.com/articles/gdp-may-slow-to-15-in-2020s-first-quarter/ https://www.stlouisfed.org/publications/regionaleconomist/fourth-quarter-2019/forecasters-see-lower-gdpgrowth-2020

SAVE THE DATE Innovative Strategies to Create and Promote Affordable Housing Honoring 2020 National Fair Housing Month

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FIONA MA

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FAIR HOUSING ATTORNEY

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FAIR HOUSING COUNCIL OF RIVERSIDE COUNTY, INC 4165 BROCKTON, AVE, RIVERSIDE, CA 92501 Website: www.fairhousing.net - Email: fhcrc@fairhousing.net - Phone: 951-682-6581

Innovative Strategies to Create and Promote Affordable Housing

NAME: __________________________________________________________________________________ COMPANY/AGENCY:____________________________________________________________________ ADDRESS: ______________________________________________________________________________ PHONE: ____________________________________ EMAIL:____________________________________ AMOUNT ENCLOSED: ____________________________________ Payments are due by March 7, 2020- Make Checks Payable to: Fair Housing Council of Riverside County, Inc. Mail to: P.O. Box 1068 - Riverside, CA 92502 Tax ID: 33-0533809 Ads and videos are provided by sponsors and are due by March 7, 2020. Email logo/ads Camera ready GIF/JPEG file For Further information , call (951) 682-6581 or email: mlopez@fairhousing.net THANK YOU FOR YOUR SUPPORT

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[POWER LENDING]

HE WAS/IS BIG ON HOUSING, HAD A BRILLIANT PLAN,

BUT IT FAILED!

WHAT DOES HE DO NOW?

ne of his many promises a few years ago was a bold action to confront the issue he called California’s greatest challenge: making housing affordable again, or at least, returning the golden state to a world where residents won’t have to pay $900 grand in housing. For an ordinary person, this guy seemed serious, and he looked like the savior California has been waiting for, for almost a decade. His predecessors cannot match this man, because he is ambitious, outspoken and always has an agenda and one year in office, his administration was marked by a sense of urgency, an insistence that the times demanded a leader who would multi-task in the way his predecessors could not.

The rhetoric was lofty, a “marshall plan for affordable housing” he said, unprecedented state action on homelessness, and 3.5 million new housing units by 2025, by all means, Gov. Gavin Newsom indeed looked like the savior we’d hoped for. Has he delivered? “If we want a California for all, we have to build housing for all,” Newsom said during his first State of the State address, a reference to his campaign slogan. “People’s lives, freedom, security, the water we drink, the air we breathe — they all hang in the balance,” Newsom said in his inauguration speech last January. “The country is watching us. The world is waiting on us. The future depends on us. And we will seize this moment.” Its been already one year

since the Governor took to office. The 52-year old Democrat can surely point to a string of high-profile victories in service of his progressive agenda and fortifying California’s political independence and resistance to President Trump. Yes, the progress is promising, but what most people don’t know is that the governor has struggled with an undisciplined and impatient governing style, something that might disrupt his ability to fix the state’s most pressing issues; homelessness, access to affordable healthcare among others. Speaking of homelessness, the governor has had a

THE POWER IS NOW MAGAZINE | MARCH 2020

tough battle since one of his contingency just failed. This was a high-profile proposal meant to address California’s housing crisis by compelling cities to build homes, but it failed miserably to pass the state senate in January, however, there is a grim chance of the bill recovering since the lawmakers left one

chance to the author. “SB50 was a bold solution to address our state’s housing, transportation, and climate change crises,” wrote Nicholas Josefowitz, SPUR Director of Policy. “It was supported by a broad coalition and provided local communities with local flexibility. It had strong

protections against housing being built in dangerous areas, like those prone to wildfires. Our state needs bold solutions right now. Doing nothing in the search for perfection is not a viable option. I hope California’s Legislative leaders continue to fight for a set of solutions this year that delivers on SB50’s promise.”

This is how the vote went

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It is also worth noting that this is the third time SB50 failed to pass the state senate. Much of the opposition came from the lawmakers hailing from the LA area. Several senators opted not to vote at all. As it stands, NIMBY is to blame for the bill’s defeat. This group has on several occasions vocally argued against the top-down control imposed by the bill and an unpleasant intrusion of their neighborhoods. But the struggle of the bill goes beyond that. A number of housing justice groups claimed that the bill would further exacerbate the displacement of low-income residents. Also coming up quite often is the bill that didn’t go enough to protect these low-income residents. About a month ago, a coalition of social justice organization that advocates for transportation, housing, and zoning wrote a letter opposing the bill unless it was amended further to the bill’s author, Sen. Scot Weiner and Gov. Gavin Newsom. “We continue to have concerns with a number of the bill’s provisions, and the last two 40

rounds of amendments have raised new questions and concerns,” the letter stated. “Our concerns reflect the input we have gathered from dozens of tenant organizing groups, non-profit developers, legal service organizations, local, state, and national equity organizations, and other community-based institutions.” The organizations listed three key areas where the bill fell short. First, the legislation did not generate affordable house at a level that would rationalize the subsidies it offered; second, the bill does not protect communities that are at risk of displacement; and lastly, the bill failed to fully protect the local affordable housing policies and stronger local plans. Each year the senator reintroduced the bill back into the conversation, he would make the changes intended to address the concerns raised in the previous attempt. But despite his efforts to appease all sides and move to allow the local governments to get a chance to develop their own set of standards similar to the bill, the proposal failed.

This time, Sen. Weiner promised to dust himself off and start afresh on a campaign to build 3.5 million homes in California. “We are in a world of hurt in California,” he said. “The suffering, the pain, people living in their cars, young people not being able to envision a future in their communities… this did not just happen. It’s because of deliberate policy choices, and one of those is the adoption throughout California of restrictive zoning.” “California’s housing status quo is badly broken. Today’s vote perpetuates that dysfunction,” he said in a statement about the bill’s defeat. “We will not give up until we have put California on a positive and sustainable path to a better housing future. I will soon be announcing new housing production legislation.” Meanwhile, with the legislature not voting on SB50, some supporters are urging the governor to get more involved in promoting a solution to the housing problem. But how can he, SB 50 was one of his favorite bills, and it failed.

Sources and Works Cited https://sf.streetsblog.org/2020/01/30/ transit-housing-bill-sb50-fails-forsecond-time-in-two-days/ https://www.davisenterprise.com/ local-news/state-government/sb-50failed-now-what/ https://www.motherjones.com/ politics/2020/01/california-housingbill-sb50-failed-nimby-housingjustice-advocates/ https://archpaper.com/2020/02/ senate-bill-50-california-fails/

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[POWER LENDING]

HOMEBUYING

SEASON STARTED EARLY THIS YEAR

he months of April through July are considered the prime months for the real estate industry as they account for more than 40% of a year’s housing transactions. This is the time people think about whether to keep renting or to move out. The prime real estate season generally varies, but over the years, it has been starting at the end of March (early spring) and lasts through the summer and in some cases early fall. There are varied reasons why this period sees an uptick in sales activities, but generally, good weather is a big factor. It is easy for people to move when the weather is warm, enticing homebuyers to trek to an open house which is difficult in cold snowy weather.

In addition, many homeowners don’t want to sell their home during the cold months, or during the holidays. With Christmas, new years and all the stress that goes in planning for the festivities, accommodating real estate selling can be a hassle for many sellers. Remember, it is also during this time when most home repairs are done, which ties into home inspections. Inclement weather and a snow-packed roof make it harder for inspectors to give accurate reports to prospective buyers. All these are some reasons why early spring through summer makes a good time to buy a home. But the norm over the years has been changing and homebuyers are seemingly getting an earlier start

especially this year, perhaps driven by the low mortgage rates. A report by Realtor.com listing data from 2015 to 2019 shows the spring seasons now starts in January for many of the nation’s largest markets. Back in 2015, the peak month for average views per listing on realtor.com was April, January lagged behind with a 16 percent. And while it lagged significantly, January saw a surge, ranking as the top month in 20 of the 00 largest metro areas including New York, Los Angeles,

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2020, as applications increased for the third straight week,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. “Rates also rose, but still remained close to their lowest levels since October 2016,” The MBA report also shows that buyers aren’t just moving to buy the houses, they are also continuing to refinance at record rates. MBA data shows that the Refinance Index climbed 5% to its highest level since June 2013. Compared with a year earlier, it was a whopping 207% higher this year. The share of refinance mortgage activity has been increasing over the recent past to a record of 65.5% of all the mortgage applications.

Chicago, Houston, Seattle, San Francisco, Atlanta, San Jose, California, and Denver. The generation of buyers today has very sophisticated buying strategies, thanks to technology and it would only seem they are modifying their buying behavior even more. Today, buyers are navigating the housing market that has become more competitive due to the rising prices and the low inventory, which means, to get lucky, the search for a home has to begin early. The report by Realtor.com ties

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with finding from Mortgage Bankers Association which also shows that spring homebuying season officially began in January this year. The mortgage application is considered the first step in the homebuying process, therefore, this means that the applications made in January are a positive indication that buyers are ready and willing to buy early. The mortgage application continued to rise into February. “The mortgage market continues to be active in early

As of November last year, the number of sales across the country was down 9.5 percent Y-O-Y. Additionally, the inventory of the entry-level home prices below $200,000 shrunk by an astonishing 16.5 percent Y-O-Y. You may wonder, since January has become the newfound favorite month for buyers, do spring months now become irrelevant or less competitive? On the contrary, that is very far from the truth. Data from MBA and Realtor.com just suggest that competition now starts in January and stays high all through the spring months.

Also, note that homebuying is not set on a stone. It is a general window and will change accordingly depending on the place and circumstances. For instance, places like San Francisco where the inventory is practically low, experience in home buying season is yearround. By the way, if you are looking to buy a home in the San Francisco and Bay region or any other place in California, reach one of our VIP agents stationed near you. Check agents in your area here; https://thepowerisnow. com/vipagentsservices/. At the moment, the environment in the U.S. real estate market seems to favor sellers, but buyers have the greatest leverage and sellers should not get greedy with their list prices. Remember, buyers today are savvy than in the past and they understand the risk involved in buying a home.

Sources and Works Cited https://www.realtor.com/research/january-housing-marketnew-april/ https://smartasset.com/mortgage/what-is-home-buyingseason https://www.housingwire.com/articles/homebuying-seasondefinitely-started-early-this-year/

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HOME HUNTING GOES MOBILE TIPS TO HELP YOU HUNT FOR YOUR HOUSE USING MOBILE

while back, we used to say that mobile phones will be the future of almost everything. Today, they are routine. A 2015 survey by California Association of Realtors’ showed that eighty-five percent of Californians used a mobile device to help them buy a home. ninety -five percent of used their mobile phones to do their homes research, 20 percent to research neighborhoods and 14 percent to take photos of the houses and neighborhoods. Today, we are ruled by technology. You will find an app that finds a home’s data by snapping it in its picture; an app that will detail how much

natural sunlight a house gets; an app that will give you a detailed description of the home’s surroundings as well a dozen apps to help you modify, decor and remodel your home. Fast forward to 2020, the National Association of Realtors report on real estate in the digital age show that 81 percent of older millennials, 80 percent of younger millennials, 78 percent of Gen Xers and 68 percent of younger baby boomers found their homes on a mobile device in 2019. We foresaw this. Apps are continually introducing a new level of confidence in the buyer as far as the home buying process is concerned allowing the buyers to search for

THE POWER IS NOW MAGAZINE | MARCH 2020

homes, by applying location and softening their search filters through the listings to match buyerâ&#x20AC;&#x2122;s wants and needs. For quite some time now, the real estate industry has fretted over technology replacing what realtors can do, the way the internet has gutted many other industries, but the opposite is true. Referring to the 2015 survey, more than 90 percent of California home buyers used a real estate agent to buy a home, which over a decade ago (2002) was up by 20 percent. Technology is just a supplement to what realtors actually do, and with that, if you are looking for an agent in your area, The Power is Now VIP agents are the people to work with. They are stationed in almost every county in the state to help you start your homeownership journey. Talk to an agent near you by visiting; https://thepowerisnow. com/vipagentsservices/ today and learn about the beautiful programs to help you start your homeownership journey. As with all the digital

developments, mobile house hunting has its set of opportunities and challenges and below, you will find some useful tips when it comes to your house hunting.

Find an App Buying a house is the most expensive decision youâ&#x20AC;&#x2122;ll ever make in your life. Some transactions go even up to six figures or more, which means, if you are planning to spend on homebuying, it is best you go in it with the right information. Real estate applications can help you dig up the best information on a deal, giving you greater insights into the market where you are looking to make your purchase. Before downloading any application, it is good to understand that there are a few different types of applications to consider. Some of the application have a large volume of house listings, while some others are more inclined toward commercial real estate listings. Some will score you some discounted home-buying fees. It will depend on what your goal is.

Stay Updated Buyers need to get up to speed quickly on the market values so they know the right decisions when an opportunity presents itself. The more quickly a buyer can update himself on the market trends, the more successfully the home search will be. Another important thing to note is that databases are constantly updating and new homes are being added each day, which means prices are adjusted constantly and already sold homes are being removed. This is the reason you will find most apps giving you an option to select whether to set alerts for changes to individual property listings and specific locations. Given that option, go ahead and activate these notifications for the listings you are interested in so you get notified if the prices rise or drop. You also need to be aware of the micro-trends in your area that could have an impact on the local prices.

Expand your Search One of the great tools you have at your disposal with the mobile phone applications is the ability to filter through your search. Filtering can help you in narrowing your search and while that is a plus for the application, filtering can also limit your results which can keep you from finding the right home. When using mobile applications, it is best to try expanding your search

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parameters (location, pricing, etc) to include counties for instance that surround your dream house and setting those filters to broader ranges.

Once Youâ&#x20AC;&#x2122;re Interested Contact Your Agent Youâ&#x20AC;&#x2122;re almost there. Once you have found a property you are interested in, contact your real estate agent. We have the best agents stationed across the state as well as a network of other agents all across the country. It is important to note that, unlike the websites and desktop applications, mobile app databases can often be outdated. Once you find a home you are interested in, contact your agent right away and have them review the listing on your behalf. Again, to find an agent in your area, visit https:// thepowerisnow.com/vipagentsservices/ today and talk to a professional agent.

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Actual Visit Listing photos at a time can lie, so to actually verify the realness of the home you saw, go for an actual field visit. Work with your agent to schedule a site visit so that you can get a better sense of the state of the home and assess the neighborhood too. Resources for Buyers and Realtors: https://thepowerisnow.com/vipagentsservices/ https://www.nar.realtor/sites/default/files/ documents/2019-real-estate-in-a-digitalage-08-22-2019.pdf Sources: http://www.freddiemac.com/blog/ homeownership/20200107_mobile_house_ hunting.page https://www.thebalance.com/best-real-estateapps-4163003 https://www.ocregister.com/2016/01/11/househunting-goes-mobile-85-of-californians-used-amobile-device-to-help-buy-a-home-in-2015/

THE POWER IS NOW MAGAZINE | MARCH 2020

[POWER EDUCATION]

Let’s explore in de

THE 1619 P W

e’ve all heard about the

Emancipation proclamation and the 13th amendment and quite a number of Americans now are familiar with the story behind it. Well, the 4th of July is a date that forever will remain instilled in our hearts for as long as we live in this country, or maybe, let’s look at the 1st of February, a day when President Truman urged all Americans to observe diligently and reflect on the price of freedom bought for this country. By now, I am quite sure that you see the trend of what I’m writing about, if not, read on. The year 1619 is not a year 50

notable to most Americans and although in the recent past, these numbers have been said and recited over and over again, you’d be surprised, that even now, people still don’t have a clue what is going on. Those people who do know what the year stands for, are mostly a very tiny segment of those “who can tell you that 1776 is the year of our nation’s birth, or is it?” Were historians wrong? The 1619 Project is a project that has received a lot of criticism and even though these critics are yet to obstruct the project’s success, giants in the conservative world are beginning to forge a tactical and strategic response that might outflank the true purpose of the project;

reframing the country’s history. In August 1619, a ship arrived at Point Comfort in the British colony of Virginia, in the cargo barrels it had around 20 to 30 enslaved Africans. Their arrival marked the start of a barbaric system of chattel slavery. A system that would inflict hardship on the poor and innocent Africans rooted in their homes for the next 250 years. And so the story begins. Basically, the 1619 project was initiated by The New York Times Magazine in 2019 with the goal of re-examining

THE POWER IS NOW MAGAZINE | MARCH 2020

etail

PROJECT the legacy of slavery in the United States and timed for the 400th anniversary of the first Africans in Virginia. The project entails a series of essays about slavery, subjugation and racial issues. Indeed, the story needs to be rewritten because slavery and racial bigotry have tainted every fabric of America’s founding and development to this date. The project contains 18 essays, a collection of original stories and poems, photo essays, a five-episode podcast, as well as other elements. To support educators on the field, the WWW.THEPINMAGAZINE.COM

Pulitzer Center has provided free reading guides, copies of magazines and lesson plans.

that when Africans set foot in this country, that marked the birth of America.

Out of forced slavery, and the radical anti-black racism that it required, American grew what it prides itself in, the prowess in its economic might, its industrial power, its electoral system, dietary, music, poetry and art, the inequities infringed on poor souls in public health and education, its income inequality and not to forget the ‘lead by example’ philosophy that is set for the world to emulate, as a land for freedom and equality. All these effects, still are very much alive and felt to this day. The seeds of all that were planted long before the “founders” formally declared independence from Britain. It is time to recognize

When the New York Times published the 1619 project in August, people lined up on the streets in New York to get the copies and since then, this move seems to only be growing stronger

with new materials like podcasts, a high school curriculum, and an upcoming book. According to Nikole Hannah-Jones, the reporter who conceived the project, the response has been so gratifying. “They had not seen this type of demand for a print product of The New York Times, they said, since 2008, when people wanted copies of Obama’s historic presidency edition,” HannahJones told me. “I know when I talk to people, they have said that they feel like they are understanding the architecture of their country in a way that they had not.” Schools and any other institution of learning in America has taught history from the perspective of the founders of the nation, who are often glorified as either heroic or tragic figures in a global struggle for human freedom, but The 1619 project seeks to change the narrative by establishing “the consequences of slavery and the contributions of black Americans at the very center of our national narrative.” if we ignore the norm and look at history through the lens of those who have been denied the rights enumerated in America’s founding documents, the story takes a whole new direction. And just like any other disruptive projects, the 1619 project has come under intense heat. The fact is, not everyone received it enthusiastically. A few months ago, a Historian from Princeton, Sean Wilentz- you may have heard about him because he has been so vocal when it comes to open negative criticism of the project, even at one time terming it as “cynicism” in a lecture in November last year- began to silently disseminate letters objecting to the project, and in particular some of Hannah-Jones’s work. The letter has since then acquired four signatories from James McPherson, Gordon Wood, Victoria Bynum, and John Oakes, all leading scholars in the field. The letter was sent to top New York times editors and to publisher A.G Sulzberger.

The Times presented an “unbalanced, onesided account” said James McPherson, dean of Civil War historians. “So wrong in so many ways” describes Gordon Wood, a historian of the American Revolution, all referencing the New York Times’s 1619 project. A September essay for the World Socialist Web Site dubbed the 1619 project as a “racialist falsification” of history. That never got the attention that was speculated, but what did were the interviews with Gordon Wood and James McPherson in November. “I wish my books would have this kind of reaction,” Mr. Wood says in an email. “It still strikes me as amazing why the NY Times would put its authority behind a project that has such weak scholarly support.” McPherson continues to describe that there have never been any good white people, which ultimately ignores white radicals and even liberals who have supported racial equality. Tweeting in response, Nikole Hannah-Jones is proud of her project, saying that it “decenters whiteness” and disdains its critics as “old, white male historians.” About McPherson, she says “Who considers him preeminent? I don’t.” Nikole has an undergraduate degree in History and AfricanAmerican studies and a master’s in Journalism. She argues that the 1619 project goes way beyond McPherson’s expertise, the Civil war. In other words, ‘Back off James!’ To the Trotskyists, Nikol writes, “You all have truly revealed yoursel ves for the anti-black folks you really are.” calling them hypocritical white men “claiming to be socialists.” a point that seems to be supported by Harvey Klehr, a leading historian of American Communism, he writes that the Trotskyists’ faction called the Workers League until 1995 was “one of the most strident and rigid Marxist groups in America” during the Cold War. This is a battle that’s only getting started, soldiers on every side are strapping their boots

THE POWER IS NOW MAGAZINE | MARCH 2020

for what’s to come. Thomas Mackaman - one of the World Socialist Web Site’s interviewer and a history professor at King’s College says, “Ours is not a patriotic, flag-waving kind of perspective,” he continues to add that the arrival of the 20 or so slaves in Jamestown VA in 1619 wasn’t a “world-altering event.” Slavery at that time was no big news, to America, yes but to the rest of the world, it was the norm. There were already slaves elsewhere in what would become the U.S. before 1619. Thomas continues to argue that even if the NY Times wants to make slavery the central story of American History, it has it backward. The American Revolution did not form the basis of “Slavocracy” as Ms. WWW.THEPINMAGAZINE.COM

Hannah-Jones puts it, instead, according to Thomas, the American Revolution brought slavery in for “questioning in a way that had never been done before” by “raising universal human equality as a fundamental principle.” Ms. Hannah-Jones insists that the anti-black racism, segregation, and subjugation runs deeps in this country’s DNA. countering that statement, Mr. Mackaman calls it “anti-historical.” proving that it requires her to belittle the most progressive declaration of modern history: “that all men are created equal.” But, none of that convinces Nikole, calling it a big fat “lie” and claims that the drafters didn’t even believe it. The abolitionists disagreed, and so did Martin Luther King

Jr who say it as a “promissory note.” Mr. Mackaman protests Nikole’s “cherry-picking” of quotes that presents Lincoln as, in his words “gardenvariety racist.” he says that her misrepresentation of facts about Lincoln can only be attributed to her “totally racialist interpretation.” He says if the whites and blacks are supposed to be “diametrically opposed to each other, then you have to disregard all the history that runs contrary to that—and there’s an awful lot.” Back to the letter by Sean Wilentz, it reads “We applaud all efforts to address the foundational centrality of slavery and racism to our history,” but then divagates into harsh

criticism of the project. It refers to “matters of verifiable fact” that “cannot be described as interpretation or ‘framing’” and says the project reflected “a displacement of historical understanding by ideology.” The letter didn’t just dispute the NY Times position in defending the 1619 project but also demanded corrections. Normally, a letter to the editors or the publisher might not seem that significant, but given the stature of the historians involved, it draws a serious challenge to the credibility of the project. Nevertheless, some historians declined to sign the letter wondered whether the letter’s intention was to resolve factual disputes than to discredit laymen who had challenged an interpretation of the American National identity that’s cherished by liberals and conservatives.

slavery’s legacy still shapes American life. If you think this is true, then you are in agreement with the force catapulting the 1619 project. This mind conflict between the NY Times authors and their historian critics represent a fundamental disagreement over the tra jectory of the American society, which is where Nikole and Mr.Mackaman clash on whether America was founded on slavocracy. The letter by the historians is rooted in a vision of American history as a slow, uncertain march towards a more perfect union. The introductory essay by Ms. HannahJones presents a darker, shady vision of America, in which

“I think had any of the scholars who signed the letter contacted me or contacted the Times with concerns [before sending the letter], we would’ve taken those concerns very seriously,” HannahJones said. “And instead there was kind of a campaign to kind of get people to sign on to a letter that was attempting really to discredit the entire project without having had a conversation.” The underlying principles forming the basis of each disagreement presented in the letter is not just a matter of historical fact, but conflict about whether the American people, from the founders to modern-day people are really committed to the ideals they claim to revere. While some of the claims and critiques presented can be answered using historical facts, some others are based on a person’s interpretation, grounded in perspective and experience. The letter has also had some far-reaching consequences, in as much as the essays from historians and other contributors to the project goes. It may obscure the extent to which its authors and the creators of the 1619 project share a broad historical vision. Two sides with varied historical opinion, one side agreeing that 54

THE POWER IS NOW MAGAZINE | MARCH 2020

the people have made less progress then they think, and a society where African Americans continue to struggle indefinitely for the rights they may never fully realize. The Atlantic writes, “Inherent in that vision is a kind of pessimism, not about black struggle but about the sincerity and viability of white anti-racism. It is a harsh verdict, and one of the reasons the 1619 Project has provoked pointed criticism alongside praise.” This is a project that will revolutionize the way Americans see things. We can’t argue with the fact that in every institution that holds the fabric of this country, there lie great contributions of the African Americans. America couldn’t be where it is were it not for the Black people. Such a project needs to be embraced, rather than fighting it. In conjunction with the Pulitzer Center, the

NY Times has already begun writing and spreading curriculum to the public schools with the aim of reframing the country’s history by demonstrating that 1619 was the year America was founded. Despite the criticism from renowned historians, the project seems to gain a lot of traction. To preach this gospel, we have to go back to the roots. Most Americans learn very little about the lives of the enslaved, or how the struggle over slavery shaped this country. In fact, last year, the Southern Poverty Law Center found that only a few American high-school students know that slavery was the cause of the Civil War and the constitution protected slavery without directly mentioning it, or that ending slavery required a constitutional amendment. “The biggest obstacle to teaching slavery effectively in America is the deep, abiding American need to conceive of and understand our history as ‘progress,’ as the story of a people and a nation that always sought the improvement of mankind, the advancement of liberty and justice, the broadening of pursuits of happiness for all,” the Yale historian David Blight wrote in the introduction to the report. “While there are many real threads to this story—about immigration, about our creeds and ideologies, and about race and emancipation and civil rights, there is also the broad, untidy underside.” The materials produced at Pulitzer are intended to enhance the traditional curricula, not to replace them as most historians see it. “It’s being used as supplementary material for teaching American history.” The 1619 project asks the readers to consider what it would mean to regard the year 1619 as the country’s birth year. The issue includes

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essays from Princeton historian Kevin Kruse, who bases his arguments in the consequence of the segregation and the white flight. Jamelle Bouie, who postulated that American counterma joritarianism was shaped by the pro-slavery politicians who sought to preserve the peculiar institution. We also have Linda Villarosa who has done a remarkable job tracing racist stereotypes about higher pain tolerance in African Americans from the 18 century to the present day. This project was the dream child of Nikole, who wrote the flagship essay in which she argues, “Our democracy’s founding ideals were false when they were written. Black Americans have fought to make them true.” she also has shared some fundamental restructuring of the society that must include some form of financial reparations because “It’s not enough to simply have political power if you don’t have economic power.”

The 1619 project is Fantastic The historians who have criticized the project to some extent agree with the project, for instance, Wilentz says that the rallying idea behind 1619 project is urgently needed. “The idea of bringing to light not only scholarship but all sorts of things that have to do with the centrality of slavery and of racism to American

history is a wonderful idea.” In an interview, he says that “Far from an attempt to discredit the 1619 Project, our letter is intended to help it.” But you would wonder if that was the intention, wouldn’t it make sense to first approach Ms. Hannah-Jones before sending it to the publishers? In just seven months, the project has had a successful start. The demand for the print edition of the NT Times magazine is higher than all others since President Obama’s 2008 victory edition. According to Pulitzer’s Annual Report, they have successfully brought the 1619 curriculum to 3500 classrooms around the country. “Educators from hundreds of schools and administrators from six school districts have also reached out to the Center for class sets of the magazine.” The report notes. Pulitzer Center denotes that the 1619 project does not shallowly look to infiltrate the history classes, it goes beyond that, the true intention as far as education goes, is to reframe the way students see a vast array of topics from economics, to health care, traffic and music; The 1619 Project tackles the subject of enslavement in a way that will be new to many American students. Scholars, reporters, and poets examine the legacy of slavery as it manifests in our present day, from the brutality of U.S. capitalism to the spread of sugar in diets around the world. John Murawski of Real Clear

Investigations says that five public school systems, including Chicago and Washington D.C, have already adopted the 1619 Project’s companion district-wide. John says that there is an “administrative fiat” in that unlike the normal textbooks that have to undergo a vetting process, the 1619 curriculum is not being vetted, but it’s in circulation and being implemented. The 1619 project curriculum is meant to be supplemental, however in January, the school district of Buffalo, New York adopted it as mandatory for the Seventh through 12th graders. All through history books, African Americans’ contributions have been misplaced and masked, but not anymore. With the 1619 project, the country’s history will be reshaped putting African Americans in the right place in the books of history. With this correction and the understanding of the importance Black people made to the making of this country, comes greater opportunities for everyone. Like Lincoln, I will end by saying that all men are created equal.

Sources: https://www.theatlantic.com/ideas/ archive/2019/12/historians-clash-1619project/604093/ https://www.wsj.com/articles/the-1619project-gets-schooled-11576540494 https://thefederalist.com/2020/02/11/ to-fight-the-1619-projects-lies-takethis-free-u-s-history-class/ https://pulitzercenter.org/lesson-plangrouping/1619-project-curriculum https://www.commonsense.org/ education/website/the-1619-project

THE POWER IS NOW MAGAZINE | MARCH 2020

HOW HOW SAFE SAFE ISIS

VALLEJO MARKET VALLEJOHOUSING HOUSING MARKET CHARLES REYNOLDS market with gains of less than three percent dominating the market in 2020.

“Pessimism is one way to put it,” said Zillow senior economist Cheryl Young while also noting that the local home prices have been flat over the last 18 months. She also noted that the decade long record-breaking escalation in prices “really wasn’t sustainable anymore.”

Zillow conducted research of more than 100 economists and industry insiders in which it found that most of them think that the Bay Area median home values will rise more slowly than the national average. Over the last decade, we’ve seen prices soaring higher, but now, there should be some level of normalcy in the

The first signs of a fatigued market began manifesting back in 2019. Sales and prices were falling in the core Silicon Valley counties. So, what is expected of the 2020 housing market is a soft market that could be characterized by ups and downs influenced by several forces, including low unemployment and interest rates and a likely destabilizing electioneering period.

ousing experts and economists are not sure about the future of housing in the Bay Area in 2020. However, they are also telling us that we shouldn’t be hopeful of a crash bringing saner prices or slower prices any time soon.

THE POWER IS NOW MAGAZINE | MARCH 2020

But what will happen to the once safe haven for buyers in the Bay Area? Vallejo still seems to be at the center of it all. Economists say that there is a high chance that about 6 in 10 expected Bay Area home values will grow slower than the anticipated 2.8 percent national rate. However, the Vallejo area remains one of only four California real estate markets still among the nation’s hottest markets. While economists are sour on the state, with low expectations for the Sacramento, Los Angeles, Riverside, and San Diego Metro Areas. Even though prices in these metros are dropping, to most first-time homebuyers, prices here might be out of their reach. That’s except Vallejo. The waterfront city in Solano County remains to be amongst the top and go-to options for most homebuyers. All through 2019, we saw unprecedented construction, with the city considering to reengineer Blue Rock Springs Golf into a community revolving around an 18-hole course.

Most economists and housing market watchers are bearish on the California market, but one city I would bet on is Vallejo. High prices in most markets have pushed home buying out of the reach for many residents. However, low-interest rates and strong employment in the Bay Area stokes demand which means, while the chance of the market dramatically dropping is low, cities like Vallejo will remain to be a hot market, attracting more and more homebuyers. “Vallejo still has quite a bit of capacity,” said Alea Gage, Vallejo’s Economic Development Project Manager. “The master plan for the waterfront approved for 1,200 housing units, and 2,300 units are approved in downtown. Both of those projects are in the core of our city.” There are also some factors position Vallejo city for tremendous growth opportunities and one of them is Vallejo’s 2040 General Plan which leaves the door open for future housing developments on Mare Island. The community collaboration in Public safety efforts and a centralized location have helped the city’s housing market boom in recent years. Typically, a house in Vallejo spends 50 days on the market in Vallejo before selling. For comparison, homes in a metro like San Francisco spend an average of 42 days on the market. One of the things that potential buyers look for when

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house hunting is neighborhood safety. Supported by the city’s police division, the city enjoys a robust network of neighborhood watch organizations. In total, there are about 286 neighborhood watch groups that collaborate with the department’s community services division. The median price for a singlefamily home in Solano County $448,395 according to Zillow. Over the past year, prices have risen up 1.9% and Zillow predicts that they will rise 4.5% within the next year. “Vallejo’s average price for a single-family home is around $460,000, which compared to San Francisco and the East Bay is a bargain,” said Johnny Walker, president of the Solano Association of Realtors. “And Vallejo is centrally located between the Bay Area and Sacramento, so more and more buyers and tenants have chosen to take advantage of the relative affordability here.” Sources & Works Cited https://www.sfgate.com/news/article/ Vallejo-s-real-estate-market-offersnew-homes-13316074.php#item85307-tbla-4 https://www.mercurynews. com/2018/06/12/vallejo-area-stillamong-hottest-real-estate-marketsnationally/ https://www.timesheraldonline. com/2018/07/17/study-vallejo-amongworst-cities-for-first-time-homebuyers/ https://www.timesheraldonline. com/2020/01/04/pessimism-seepinginto-bay-area-home-market-for-newyear/

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60 APARTMENTS WITH RENTS APARTMENTS WITH AS60LOW AS $400 COMING TO RENTS FONTANA AS LOW AS $400 COMING TO FONTANA

AMEER ELAHEE

n Fontana, something very interesting is underway, the construction of a $23 million affordable housing development that will offer 60 apartments for as low as $400 a month. The construction is spearheaded by the Irvine-based developer Jamboree Housing Corporation who broke ground in January. Since 2001, Jamboree has raised over 350 affordable housing apartments in Fontana.

This construction development marks the seventh project that the nonprofit has undertaken in the city and is expected to transform a 4.31-acre blighted lot once owned by the San Gabriel Water Company into 60 affordable one-, two-, and three-bedroom apartments for families earning between 30% and 60% of the area median income which according to the 2018 census was about $71,000.

THE POWER IS NOW MAGAZINE | MARCH 2020

About 22 miles west of Fontana, in Pomona, another construction of an affordable apartment complex for veterans has started on West Commercial Street. The Veteran Park Apartments was awarded $1.8 million in annual tax credits in 2019 by the California Tax Credit Allocation Committee and will have 60 units ranging from 600 to 1,100 square feet. On this property, the rents are expected to be between $545 a month for a one-bedroom apartment and $1,519 for a three-bedroom apartment. The Veterans with Housing Choice Vouchers issued from HUD-Veterans Affairs Supportive Housing program will be accepted. For the development happening in Fontana, construction is expected to conclude in April 2021 while for the development in Pomona, construction is expected to be concluded also next year but it’s early to speculate on the finishing month. “We believe that housing is the platform for all community change and for everything else that ripples through,” Jamboree President and CEO Laura Archuleta said Wednesday. Having high-quality affordable housing allows your kids to go to school and not worry about where they’re going to do their homework. It allows their parents to go to work and know they have a place to come home to. It allows them to have money to buy healthy food.

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“All these rippling effects come out of high-quality affordable housing.”

you say ‘affordable.’ This is attainable, where families can actually be transformed.

In addition to the housing and outdoor amenities, the Sierra Avenue apartment complex will have a nearly 5,000 sqft community building with recreation space, management offices, kitchen facilities, and a computer. Also, there will be a 3,000 sqft health and wellness facility that will be operated by the Cucamonga Valley Medical Group. The residents and the community at large will have access to health and education classes, flu shots, immunization services, and sick childcare services.

“We have families waiting, and we don’t want our families being homeless. We’ve got to provide housing.”

“We’re serious about providing housing, and we’re battling to be able to do this kind of housing,” Mayor Acquanetta Warren said. “We’re looking at any option where we can have diverse housing for everyone. People get worked up when

Sierra Avenue Apartments will be at 16839 Ramona Ave. in Fontana.

Works Cited https://www.dailybulletin. com/2020/01/29/60-apartmentswith-rents-as-low-as-400-coming-tofontana/ https://www.dailybulletin. com/2020/01/09/60-apartments-forveterans-with-monthly-rents-as-lowas-545-coming-to-pomona/

THE IMPACT OF COMPLETION OF THE IMPACT OF COMPLETION OF

$73$73MILLION INTERCHANGE IMPROVEMENT PROJECT MILLION INTERCHANGE IMPROVEMENT PROJECT ONONREAL CORONA REALESTATE ESTATEDEVELOPMENTS DEVELOPMENTS ININCORONA

DAVID TRUBEY

ne thing is certain, traffic in Corona is eased, commute time significantly reduced, the economy is expanding and more beautiful things coming to Corona, all thanks to the completion of the $73 Million interchange improvement project. The Ca jalco Road 1-15 Interchange Improvement Project will widen the Ca jalco Road from two to six lanes from Temescal Canyon to Bedford Canyon Road. this project also proposes several augmentations to the entrance and the exit ramps and the auxiliary lanes.

Overview of the Project The City of Corona in collaboration with the California Department of Transportation (Caltrans), District 8, is reconstructing the interchange located in Interstate 15 at the Ca jalco Road from Temescal Canyon Road to Bedford Canyon Road. this is a $45 million dollar investment that will include the widening of the Ca jalco Road overdressing bridge on a new alignment north of the existing bridge. In addition, the bridge will include a stripped median, outside shoulders and a sidewalk on

the southern side. The existing northbound and southbound ramp intersections will also be reconfigured and all the existing ramps will be realigned. The northbound on-ramp will be modified to serve the westbound Ca jalco road traffic and northbound loop on-ramp will be constructed to serve the eastbound Ca jalco Road Traffic.

What does this mean for real estate in Corona While road improvement programs translate to better results and commuter time fo the residents in an area. The current developments on roads and highways, especially in a city like Corona, could have an impact on the property values due to increased traffic flow. Statically, it has been proven that with every meter a house was to a particular railway station, the property value went up by $2.29. While it may not seem like much, this study also showed that the houses immediately adjacent to the stations were sold for 38% more. With the expansion of the Ca jalco Road, there will be better to neighboring areas like Riverside county. The work on Ca jalco Road Interchange Improvement Project began in the summer of 2018. â&#x20AC;&#x153;It is an exciting day in Corona to see this project come to completion,â&#x20AC;? acting Public

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estate. While improved accessibility may scale up the prices of housing in the area, increased or higher traffic noise levels and increased traffic density may scale down the price of real estate adjacent to the highway. While this expansion may open up the real estate market in Corona, the same cannot be said of the adjacent areas to the expansion. “This is a crucial transportation benefit for the entire region, and we’re pleased we could contribute significant funds to make it possible.” Works Director Tom Koper said. “The improvements will increase the capacity of the bridge and ramps to reduce congestion and accommodate projected growth in the area.” “The completion of the interchange improvement is the result of a successful partnership, one that we are proud to be a part of with the city,” said Leonard Miller, president of New Home.

In addition, the aim of any infrastructural development is to improve accessibility at a regional or even urban level and to also relieve congestion in the areas. When these developments are evaluated by the property owners in the regions affected, they are capitalized in the price of housing. However, the effect of new roads or highway development has both positive and negative impacts on real

Resources: https://www.coronaca.gov/home/ showdocument?id=4755 https://www.coronaca.gov/home/ showdocument?id=4757 https://vimeo.com/223629522 Works Cited https://www.coronaca.gov/ government/departments-divisions/ public-works/construction-projects/i15-ca jalco-interchange http://i15ca jalco.com/ https://mynewsla.com/ business/2020/02/18/completion-of73-million-interchange-improvementproject-imminent/

LOS ANGELES COUNTY MORTGAGES LOS ANGELES COUNTY MORTGAGES ARE ‘SERIOUSLY’ UNDERWATER ARE ‘SERIOUSLY’ UNDERWATER BRIANA FRAZIER Attom Data Solutions reports that about 1.9% of the Los Angeles county mortgages are “seriously underwater” at year’s end despite a healthy economy and a booming real estate market. In the last quarter of 2019, LA county had 29,871 underwater homes. To arrive at this figure, Attom tracked what it perceives as the most troublesome home loans; mortgages that are 25% greater than the value of the home. While this figure seems like a lot of troubled home loans, data shows that the county’s share of seriously underwater mortgages was sixthlowest among the 50 populated U.S. Counties. An underwater mortgage refers to a home purchase loan with a higher principal than the free-market value of the home. It is a situation that normally occurs when the value of the property is falling. In this situation, the homeowner may not have an equity available fo the credit, which in most cases limits the homeowners from seeking options like refinancing or selling the home unless they have the cash to pay the loss out of pocket. Underwater mortgages were a common problem for most homeowners at the height of the financial crisis of 2007-08, which among other things involved a substantial deflation in the housing prices. While the market has recovered, partly due to the support from the 70

monetary policy and interest rate stabilization, the underwater mortgage still remains a factor that property owners must follow closely when making real estate investments. If the economy sours, or if the homeowner’s finances are stretched, there is very little financial motivation keeping the borrower in these homes. The challenges that we mainly see in the underwater statistics highlight the lingering value issues from the financial crisis as well as the more recently reduced values of the high-end housing. In the last quarter of 2019, California’s total recorded seriously underwater homes were 189,896. Which means 2.7% of all mortgaged properties, third-lowest nationwide. By Attom’s Data calculations, 7% of mortgages in the rest of the U.S. are seriously underwater. At the neighborhood level in LA county, the pricier the community the more likely the higher chances of seriously underwater homes. Shortages of affordable residences have kept the low-end prices stronger than the bulk of the market. In addition, cheaper homes are often bought with large downpayments o in all-cash deals creating high levels of equity. The following is a list of numbers and share of seriously underwater mortgages in 238 big LA County ZIP codes and how the percentage is ranked among 979 California ZIPs tracked by Attom THE POWER IS NOW MAGAZINE | MARCH 2020

1. Malibu 90265: 499 seriously underwater home loans or 11.81% of all mortgaged homes — No. 977 statewide.

20. Los Angeles 90037: 159 or 3.19% — No. 712 stateide.

2. Beverly Hills 90210: 437 or 10.71% — No. 975 statewide.

219. Covina 91722: 73 seriously underwater home loans or 1.03% of all mortgaged homes — No. 89 statewide.

3. Santa Monica 90402: 217 or 7.61% — No. 958 statewide. 4. Los Angeles 90077: 170 or 6.84% — No. 948 statewide. 5. Los Angeles 90049: 437 or 5.58% — No. 901 statewide. 6. Pacific Palisades 90272: 280 or 4.83% — No. 869 statewide. 7. Los Angeles 90046: 295 or 4.40% — No. 844 statewide. 8. Los Angeles 90068: 241 or 4.39% — No. 842 statewide. 9. Manhattan Beach 90266: 391 or 4.11% — No. 825 statewide. 10. West Hollywood 90069: 216 or 4.06% — No. 819 statewide. 11. Los Angeles 90027: 172 or 3.91% — No. 810 statewide.

And the 20 lowest …

220. Paramount 90723: 58 or 1.02% — No. 88 statewide. 221. El Segundo 90245: 32 or 1.01% — No. 87 statewide. 222. Torrance 90505: 74 or 1.01% — No. 84 statewide. 223. North Hills 91343: 96 or 1.00% — No. 83 statewide. 224. Long Beach 90810: 54 or 1.00% — No. 82 statewide. 225. Panorama City 91402: 70 or 0.99% — No. 80 statewide. 226. Pico Rivera 90660: 108 or 0.99% — No. 79 statewide. 227. Mission Hills 91345: 35 or 0.96% — No. 76 statewide.

12. Los Angeles 90019: 230 or 3.47% — No. 763 statewide.

228. Pacoima 91331: 128 or 0.95% — No. 75 statewide.

13. Los Angeles 90003: 239 or 3.42% — No. 754 statewide.

229. West Covina 91790: 79 or 0.92% — No. 70 statewide.

14. Encino 91436: 145 or 3.36% — No. 746 statewide.

230. Torrance 90504: 60 or 0.90% — No. 66 statewide.

15. Los Angeles 90004: 132 or 3.34% — No. 738 statewide.

231. Sun Valley 91352: 59 or 0.86% — No. 64 statewide.

16. Los Angeles 90048: 118 or 3.29% — No. 728 statewide.

232. Downey 90242: 52 or 0.83% — No. 61 statewide.

17. Calabasas 91302: 213 or 3.26% — No. 725 statewide.

233. Los Angeles 90056: 18 or 0.83% — No. 59 statewide.

18. Hermosa Beach 90254: 158 or 3.24% — No. 723 statewide.

234. San Fernando 91340: 39 or 0.80% — No. 53 statewide.

19. Compton 90220: 240 or 3.20% — No. 713 statewide.

235. Monterey Park 91755: 36 or 0.79% — No. 51 statewide.

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236. Los Angeles 90022: 48 or 0.75% — No. 44 statewide. 237. Inglewood 90304: 17 or 0.74% — No. 42 statewide. 238. Culver City 90230: 50 or 0.68% — No. 35 statewide. Sources & Works Cited https://www.whittierdailynews. com/2020/02/14/29871-los-angelescounty-mortgages-are-seriouslyunderwater/ https://www.investopedia.com/ terms/u/underwater-mortgage.asp

BAY AREA HOUSING CRISIS

BAYAAREA HOUSING WE NOW HAVE RICH PEOPLE AND CRISIS POOR PEOPLE ZONE WE NOW HAVE A RICH PEOPLE AND POOR PEOPLE ZONE

KENNETH SESSION

alifornia is the epicenter of the tech industry, the wealthiest and the most progressive state in the union, but it faces one problem, a drawback that could cripple its economy- homelessness and worse of all, no one seems to agree on how to solve the issue. The problem has become so bad that we now have a “rich man’s land” and “poor people land.” Middlefield Road marks the end of the poor people zone and the start of posh residential units for the rich. At one end of the road, you are net with the famously Atherton, characterized by luxurious canopy trees hovering over multimillion-dollar investment properties. At the other end, just a few miles away, there lies a neighborhood of modest, single-story homes in Redwood City where the poverty rate is nearly twice the average in the five counties of the Bay Area. The road cuts through perhaps one of the most extreme income gaps in the Bay Area. experts say that the gap here is larger than in any other part of California. And while it may be easy to just ignore this rift in enclaves like the Los Alto Hills or the Blackhawk, here the economic disparity is severe. From Atherton to Redwood city, it is surprising that the median household 74

income plummets nearly $180,000 and the college education levels drop with every single drop in the tree canopy line. But you may wonder, why so much segregation? Who is to blame? According to the New York Times, for San Francisco and most of the Bay Area’s discontents, tech companies are the boogeymen and an inescapable presence, bringing San Francisco and other Bay Area residents their comeuppance. However, looking deeper into this mess, tech giants in the area are not to blame, the real fright feature is the lack of housing in the region. According to the 2018 census data, the median household income in a place like Atherton where two-thirds of its residents is $250,000. A few miles away in Redwood City, the median household income is $71,458 and two-thirds of its residents are Latinos and a quarter of children here live in poverty. California is known for the notorious disparities in wealth gaps between communities and what’s in Atherton and Redwood City is not something new, however, there are some unique aspects that set Atherton and Redwood City apart from other areas with a significant wealth gap. The first on the list is Atherton’s wealth: With a net worth of 6.5 million per person, Atherton’s zip code is among the top wealthiest in the state of California. Redwood city on the other hand in on the lower spectrum coming in at bottom THE POWER IS NOW MAGAZINE | MARCH 2020

third position with a net worth of $60,000 per person. The second unique characteristic is the physical proximity of the two ZIP codes. According to Brian Uhler, deputy legislative analyst in the state Legislative Analyst Office, communities with similar levels of wealth are clustered together, with affluent areas in one place and less affluent places in another. “For the most part, there are not that many (places) where you have one of the higher wealth ones right next to a lower wealth area,” Uhler said. California is a nice place to live, for those at the top of the income scale. This is according to an analysis of the U.S Census Bureau data by the California Budget and Policy Center (CBPC) which has found a deepening gap between the state’s have and have-nots. The analysis found a ma jor gain for the richest residents and more modest gains for the

people with median incomes and losses for the people with the lowest income gains when adjusted for inflation. The median household incomes in California according to the CBPC report increased by 6.4% from $70,744 in 2016 to75,277 adjusting for inflation. However, the top 5% of households’ income grew by 18.6% from $426,851 in 2006 to 506,421 in 2018 while the households in the bottom 20% saw their average income fall by 5.3% from $16,441 in 2006 to $15,562 in 2018. This analysis was based on the latest American Community Survey report. The income disparity in California is not even remotely unique, recent data from the census bureau show that from 2017 to 2018 income inequality widened also in other 8 states including Alaska, Nebraska, New Hampshire, Virginia, and New Mexico. However, in most other states, there was constancy to no change in inequality.

Bay Area residents suffer the most. The average income for top earners in many Bay Area counties in 2018 was higher than the state average for the richest households. San Francisco County had the highest rate of income disparity with 5% of households making an average of $808,105 compared with $16,184 for the lowest 20%. “The Bay Area feels the income inequalities and the disparity between the numbers at the top and the stagnant wages at the bottom more than most other areas of California because of the cost of living,” said Megan Joseph, executive director of Rise Together, a regional coalition aimed at reducing poverty in the Bay Area.

Sources & Works Cited https://calmatters.org/californiadivide/2019/10/income-inequalityis-on-the-rise-in-california-in-somecounties-the-disparities-are-extreme/ https://www.mercurynews. com/2020/02/17/bay-area-living-atthe-intersection-of-rich-and-poor/

RIVERSIDE COUNTY HOMEBUYING JUMPS 18

AS PRICES RISE 6.9

RIVERSIDE COUNTY HOMEBUYING JUMPS 18

AS PRICES RISE 6.9

RUBY FRAZIER

iverside county homebuying rose and prices were up as SoCal’s median hit an all-time high of $550,000 in the last quarter of 2019. On the other hand, homebuying jumped 22% in a year according to data from CoreLogic. Researchers are indicating cheaper mortgage rates, a shrinking supply of the existing homes to choose from and a resilient economy as some of the reasons why the rates rose in 2019. The home sales totaled 3,473 in December which is up 18 percent in a year. The county’s latest sales count is 5% off the December average of 3,658. CoreLogic also notes that the countywide median selling price was $401,250 which is up 6.9% over a time span of one year. The latest median is 7.1 percent off the county’s record high of $432,000 set in January 2007. In just one year, 78

the six southern California counties recorded a sales count of 19,337 homes- up by 22.1%. Here are some of the things you should know about the key market niches in Riverside county sales in the last quarter of 2019; 1. Existing single-family houses: Corelogic data shows that 2,408 homes were sold, up 18.6% in a year. A median of $400,000- a 1.8% rise over 12 months. 2. Existing Condos: there were 442 sales, up 22.1% over 12 months. The median price was $290,000- a 6.1% rise in a year. 3. Newly built homes: builders in the region sold 623 new homes, up 12.7% in a year. A median of $454,500 was recorded representing a 5.8% rise over one year.

Riverside ranks in fifth position overall compared to other Southern California’s counties. That’s not to forget that in late 2018 and early 2019, the housing market was in a tumble due to a colder economy and higher mortgage rates. The market experience then was somehow cold and the brief period of homebuying angst was a key reason why last year’s 228,884 regional sales totaled 1% below 2018’s pace. Note also that this was also below the 234,091 annual average since the Great Recession ended in 2009. Still, as 2020 started, there were tensions in the region due to tight inventories, but that’s not deterring house hunters.

Sources & Works Cited https://www.ocregister. com/2020/01/22/socal-home-pricessoar-to-record-550000-as-buyingjumps-22/ https://www.pe.com/2020/01/28/ riverside-county-homebuying-jumps18-as-prices-rise-6-9/

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ABOUT CORONA ABOUT CORONA ABOUT CORONA JENNY GONZALEZ

have lived and worked in Corona for over 25 years. It is a town that in the 1960s when my husband’s family worked here only 15,000 people were here. What we like best about it is we see the same people even though it is now a big city it feels like a small-town mentality. Corona is a melting pot of all different types of people. There is not a population that is not represented in our town. We have those that live in mobile homes, to those that live in Million Dollar mansions, to everything in between. Corona has been a popular place to move because of it’s location. We are central to the Inland Empire. We border Riverside, San Bernardino, Orange and Los Angeles County all in one. This makes it a popular place to move for commuters. With a population of 168,819 people, 49,953 houses or 80

apartments, Corona real estate market has experienced a boom with the resale values not uncommonly reaching into the millions. Currently, according to Zillow, the median home value in Corona is $497,005 which have gone up 1.8%. Undoubtedly, real estate costs in Corona are among some of the highest in the nation, even though the housing prices in Corona are below compared with some expensive cities in California. 2020 is here with us, a new cycle has begun. Last year, we saw buyers staying away from the real estate market in areas like Newport and Corona Del Mar. What is the expected prediction this year? More importantly, the appreciation rates in Corona. In the last 10 years, Corona city has experienced some of the highest appreciation rates in the nation- 73.10% which translates an average annual home appreciation rate of 5.64% which puts it in the top 10% bracket nationally for real

estate appreciation. 2019 was a different case altogether why? Corona’s appreciation rates flattened. In the last 12 months, Corona city’s appreciation rate has been 2.29% which is lower than appreciation rates in most communities in America. Judging by these numbers, what should we be expecting in 2020. Is investing in real estate in Corona a worthy investment? 2020 has taken a turn on the uptick! In the first month of 2020 the sales prices increased! We have seen a large increase in sales compared to last year at this time, especially on the homes priced $600,000 and higher. Homes priced under $450,000 for a single-family residence is hard to find in Central Corona but South Corona has a great amount of inventory under $450,000 for first time and downsizing buyers. There is a popular section of South Corona called Butterfield Estates that are manufactured homes on permanent foundation and they are

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generally $300,000 and under and the location is great for a first time buyer or family. We have an abundance of shopping with two large shopping complexes to the South: The Crossing and Dos Lagos. This has brought a lot of jobs and more opportunity for Corona to shop as we had to go to Riverside or other cities prior to these being opened. Both have movies, restaurants, shopping and lots of activities for the family including Summer concerts outside. Cool facts: We are home to Fender Museum, Monster WWW.THEPINMAGAZINE.COM

Energy Drinks, Dos Lagos means two lakes and there is an actual lake they built in the center, we have golf courses, Ziplines, hiking trails, and we are close to all kinds of fun things for the whole family. What is my favorite part of living and working as a Realtor in Corona? I would have to say the people. Wherever I go I seem to meet the nicest people and I love to make new

relationships on a weekly basis, which is not hard there are so many events to go to. We have several great groups that go walking together, hiking together and just getting together to work together to make it a better community as a whole. l

MOM’S FOR HOUSING MIGHT HAVE INSPIRED

MOM’S FOR HOUSING MIGHT HAVE INSPIRED A SHIFT IN OAKLAND’S REAL ESTATE

A SHIFT IN OAKLAND’S REAL ESTATE

DON DUNBAR

he group of women who took over an empty West Oakland property in November may have accidentally created a new wave of revolution in housing. Galvanized by Moms 4 Housing standoff that drew a lot of public eye to the region’s affordability crisis, the county officials will soon have to overhaul the way homes are bought and sold. Oakland councilwoman introduced a new measure that would help the renters in the region keep their home when the building is sold. Other Cities in the Bay Area are also considering the same.

of low-income units, while at the same time controlling the influence of real estate speculators on the overheated housing market that is pricing most long-term residents out. Under the new law, landlords are required to give the tenants notice before listing the property for sale on the open market. If the tenant is interested in the property, the landlord would then be required to negotiate a deal with him or her- however, the owner isn’t required to accept the tenant’s offer. If the landlord gets another better offer for the house, the tenant

would be granted to set a number of days to match that price. “It just creates more opportunities for tenants to stay in their homes permanently,” said Miya Saika Chen, Fortunato Bas’ chief of staff. “Not just as renters, but also as homeowners.” The county’s push for a right of first refusal policy is a novel approach, however, not without precedent. San Francisco is one of the city to adopt such a policy which went into effect in September and Berkeley and East Palo Alto are considering

The policies would give tenants or the affordable housing nonprofits the first bid to buy certain residential properties for market values. This move is intended to beef up the strained local supply 84

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similar rules. Washington, D.C., has had such a policy on the books for more than a decade. The county activists say that they have been lobbying for such measures and policies behind the scenes for quite some time but they’ve only recently picked up speed and the needed momentum to finally propel them into law. “The housing crisis has gotten so much worse that people are ready to embrace the policies that will actually address it,” said Leah SimonWeisberg of the Alliance of Californians for Community Empowerment, which has been working with Oakland officials on the new policy. This ordinance was prompted by Moms 4 Housing - who squatted in an empty, investorowned house in West Oakland for two months before they were evicted and arrested. Their actions garnered a lot of attention even generating praise from the Governor. In January, Wedgewood agreed to negotiate a deal to sell the house to the nonprofit Oakland Community Land Trust. Once the deal is sealed, Moms 4 Housing is expected to move back in. WWW.THEPINMAGAZINE.COM

The company has also agreed to give land trust or other nonprofit organization in the area a chance to buy a dozen of homes it owns in Oakland. Earlier in January, Council President Rebecca Kaplan called on the city to buy properties at county auctions and convert them into affordable housing. Both Kaplan’s and Fotunato Bas’ proposals come after Moms 4 Housing protests.

Sources and Works Cited https://www.marinij.com/2020/01/30/oaklandcouncilwoman-to-introduce-moms-4-housing-inspiredordinance/ https://www.mercurynews.com/2020/02/09/new-policiescould-shake-up-some-bay-area-housing-markets/

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CORONAVIRUS EVERYTHING YOU NEED TO KNOW AND MORE

he World Health Organization (WHO) has declared a global emergency over the new coronavirus following an outbreak in the central Chinese city of Wuhan. The news of the virus began spreading and making headline in December 2019 and from Wuhan to as far-flung as the United States and Philipines, the virus has infected tens of thousands and the death toll keep rising, now with over 2000 deaths. In spite of the global panic, health experts say that it is hard getting the virus unless you are in direct contact with someone who has recently traveled to certain parts of China. The world health organization named the disease caused by this virus COVID-19 (Co- corona, Vi-virus, D- disease, 19-the year it emerged). While the number of people infected keeps growing, there has been 88

quite a remarkable recovery, over 21,000 people have recovered from this illness, but cases have been reported in 31 other countries.

The Origins of Coronavirus The public health officials from China informed the WHO that they had a problem; an unknown, new virus causing flu-like and pneumonia-like illness in the city of Wuhan. This was in December 2019. After reporting the incident, it was quickly discovered that it was a coronavirus, and it was rapidly spreading through and outside of Wuhan. Coronaviruses are common, especially in animals of all kinds. Sometimes, they evolve into other forms that can be passed on to humans. So far, we only know two other coronaviruses which have THE POWER IS NOW MAGAZINE | MARCH 2020

a much more serious respiratory tract illness like pneumonia or bronchitis. So far, WHO has been able to identify a handful of human coronaviruses that have been so lethal.

affected the humans; Severe Acute Respiratory Syndrome (SARS) outbreak in 2002-03 and the Middle-East Respiratory Syndrome (MERS) outbreak in 2012. Originally, the theory was that the virus first infected people at the seafood market of Wuhan and spread from there. One analysis differs claiming that the first patient to get sick did not have any contact with the seafood market. The scientist is still trying to trace the origins of the virus. The type of animal the virus originated from is still not clear. A team of researchers from china says that the virus originated from a snake based on the genetic code of the virus. But scientists are not convinced as to the accuracy of the research. Another analysis shows that the genetic sequence of the virus is 96 percent identical to the one found in Coronavirus found in bats. Both the SARS and MERS originated in bats.

First identified in the Guangdong Province in Southern China, SARS is one of the coronaviruses that has been known to be lethal to humans. According to WHO it causes respiratory problems, but it can also cause diarrhea, fatigue, shortness of breath, respiratory distress and kidney failure. The death rate with SARS ranged from 0-50% of the cases, with older people being the most vulnerable. MERS is the other identified disease known to be deadly. It was first identified and reported in the Middle East in 2012 and much like the SARS, it causes respiratory problems, however, the symptoms are much more severe. CDC reported that 3-4 people out of 10 infected with the disease died. The COVID-19 is thought to be much milder than the SARS and the MERS and has a longer incubation period. To date, most cases are reported to be associated with mild coughs for a week, followed by a shortness of breath which leads them to the hospitals. So far, about 15% to 20% of the cases have become severe requiring drastic measures such as ventilation in the hospitals.

Coronavirus Symptoms One might brush off the symptoms of the disease as they range from mild to moderate upper respiratory tract illness, very similar to a common cold. Coronavirus symptoms include a runny nose, cough, sore throat, fever, and possibly a headache all of which can last for a few days. Children and the elderly are particularly vulnerable, there is a high chance that this virus could cause a lower, and WWW.THEPINMAGAZINE.COM

symptoms. Around 20 percent of the cases that have been identified have turned out severe. This is only what has been let out to the public, it is still possible that there are many more mild cases of the illness that we are yet to know about.

China Is Know to Lie About Facts, Are They Doing It With COVID-19 In 2002 during the SARS outbreak, Chinese officials attempted to conceal the cases from WHO inspectors, limiting the information flow, both internally and externally. This time, it is different, officials quickly reported the outbreak of the new virus to the WHO. Chinese officials are also allowing a team of WHO experts to assist its public health team with ongoing work. The United States Department of Health and Human Services has praised the Chinese government for its transparency. “The Chinese government’s level of cooperation is completely different from what we experienced in 2003,” said department Secretary Alex Azar during a press conference. Nonetheless, there are still a number of people who are skeptical and are raising

concerns that the Chinese officials are undercounting the number of illnesses and are classifying deaths that might have been from the virus as being from pneumonia.

While it is too early to tell, the fatality rate of the new illness is around 1 or 2 percent, that could change as the outbreak progresses. Most of the reported deaths in this outbreak have been in older people who have underlying health issues like heart disease, hypertension, and diabetes.

How Dangerous Is COVID-19 We simply don’t know! The severity of an illness is determined by both how easily it spreads and how lethal it is. To assess new flus, epistemologists often use this tool, for guided decisionmaking. If a virus is not too dangerous, but it is highly communicable/ transmissible, it can still cause some devastating effects, if it ends up affecting millions of people. Though it might kill just a small percentage of people, it will leave high number of fatalities. To this end, researchers are still trying to grasp the severity of the disease by analyzing its

THE POWER IS NOW MAGAZINE | MARCH 2020

How the Virus Spreads Basically, viruses can spread from human to animal contact. Scientists think that MERS started in Camels. With SARS scientists suspected that the virus could have come from civet cats. With COVID-19, scientists do not know where the virus originated from. When it comes to transmission between humans, it often happens when a person comes into contact with an infected person’s secretions. Depending on the virus’s virulent, a cough, a sneeze or a handshake could cause

exposure. The virus could also be transmitted by touching something that an infected person has touched and then touching your mouth, nose or eyes. Human-to-human transmission has been confirmed for the Wuhan coronavirus. Right now, what experts are trying to understand is who is transmitting it the most, who is at the most risk and whether the transmission is occurring mostly in hospitals or in the community. For the SARS and MERS, most transmissions happened in the hospitals.

Most Vulnerable From studies of the virus, the most vulnerable people are older people, but there is a cloud of uncertainty around this new illness. Of the cases reported in Wuhan, so far, there appears to be no children casualties. The average age is people over 40 years and over.

You Shouldn’t be Worried unless you have been to China! Some people might be thinking, since I am having flu-like symptoms, this must be it. But if you haven’t been to China or in contact with a person from China it is unlikely you have this virus. The fatality rate of the Wuhan coronavirus is lower compared to SARS or the MERS but comparable to the 1918 Spanish flu pandemic. Prevention is cure, and since there is no vaccine to protect against this family of viruses reducing the risk yourself is key. Avoid close contact with people who have been recently affected. Avoid touching your mouth, nose and eyes also, make sure you wash your hands often with soap and water for at least 20 seconds.

Is There Any Treatment? So far, there is no standard treatment but more research is underway. In most cases, the symptoms die away on their own, but experts advise getting care early. If the symptoms feel worse than the standard cold, see your doctor. The doctors can relieve the symptoms by prescribing a pain or fever medication, CDC says that a home humidifier or a hot shower can relieve the sore throat or cough.

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Work cited https://edition.cnn.com/2020/01/20/ health/what-is-coronavirus-explained/ index.html https://www.theverge. com/2020/1/23/21078457/coronavirusoutbreak-china-wuhan-quarantinewho-sars-cdc-symptoms-risk https://www.theguardian.com/ world/2020/feb/23/what-iscoronavirus-and-what-should-i-do-ifi-have-symptoms

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MILLENNIALS WANT TO BUY BUT THEY CAN’T TRUST LENDERS OR THE HOUSING MARKET

t is safe to say that the housing market in the United States is at a crossroads. Giants in the housing industry report up and downswings in the parameters of the home prices, starts, and sales. Even though data seem to paint both an unflattering and flattering general picture in all the same month, one thing is clear, millennials are not buying homes in the number the previous generations did. One of the most defining characteristics of the millennials generation’s experience with the financial and housing ecosystem is that of fear. Which has ultimately led them to develop a pervasive mistrust of banks, lenders and the housing market overall. This generation may be the first one to say “meh” to the homeownership aspect of the American dream. This can be well reflected in the percentage of sales to the first-time homebuyers which dropped below 30 percent compared to the averaging 40 percent. But, that shouldn’t be taken to mean that millennials are not interested in buying homes, the desire is 94

there. In fact, according to a survey done by the National Association of Realtors (NAR), 74 percent of the millennials think they’ll own home before turning 35. One of the ma jor reasons why millennials are opting out of the housing industry is the mistrust in the financial institutions based on what they have consistently witnessed during the housing crisis and the fear of not qualifying for a mortgage because of the student loan debt and a struggling job market. When you put all these factors together, it makes

it easier for millennials to feel comfortable living with their parents. To put this into perspective, Even Financial conducted a study, where it found that 92% of millennials stated that banks could not be trusted, over half said that they didn’t know anyone they could turn to for financial advice. In another survey by Bankrate, nearly half (45 percent of millennials aged 23-38) identified the skyrocketing prices of homes and the high cost of living as one of the ma jor factors and barriers to buying a home compared with other generations. About

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38 percent of Gen Xers (aged 39-54) and 31 percent of baby boomers (aged 55 to 73) cited the high cost of living as a ma jor barrier to homeownership.

Low Engagement with Financial Institutions Millennials do not engage financial institutions as often as they should. The underlying issue here is the fact that millennialsâ&#x20AC;&#x2122; knowledge about the minimum requirements, especially during a time when the countryâ&#x20AC;&#x2122;s notable lack of affordable housing, is a pressing issue. Millennials who want to own a home are often hampered by income that is not much, coupled with the high cost of living. Over the recent past, weâ&#x20AC;&#x2122;ve seen the mortgage industry trying so hard to engage millennials (a rapidly growing population segment) and for a good reason. In 2020, one out of three American adults will be a millennial, which could translate into 75 percent of the total workforce in the united states 5 years from now. Therefore, it is important to start an awareness campaign as early as today. Unlike other generations, millennials grew up in a connected world, they WWW.THEPINMAGAZINE.COM

embrace technology, which means, mortgage lenders have a very unique opportunity to engage with them. Millennials like previously said do not trust financial institutions, which means, mortgage lenders have to drop down the complacency in their approach. Much of this mistrust stems from the growing cases of reports of unduly dealings of financial institutions and the financial crisis, which has left them with the impression that banks get bailed-out, mortgage lenders helped to crash the economy through the bad home-buying policies and that the long-term employment is not a reality going forward.

Millennials Turning to Assistance Programs, Retirement Savings for Down Payments Financially, young buyers may feel the deck is stacked against them. This means they are likely to use multiple avenues to fund the downpayment and the closing costs for their first home. In addition to actively saving for their l

downpayment and closing costs than other generations, 33 percent of the millennials say that they used a downpayment assistance program or grant compared with 27 percent of the Gen Xers. On a more worrisome note, the findings by Bankrate show that millennials are twice as likely to dip into their retirement savings than any other generations in a bid to finance enough money for their housing costs, which could be trouble later on in their lives. But this is a problem cutting across all the generations, Americans are not saving enough for their retirement, which means, most of them are tapping a 401 (k) account for their house purchase which can hurt them later on in life.

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The barriers to homeownership can be easily solved with the right guidance and education and a good start would be to talk to agents who are HUD-approved such as the VIP Agents that we have stationed all across the state of California, they will give you advice and specific guidance for your situation. Most millennials cite income as a ma jor factor that prevents them from pursuing their homeownership journey, but our VIP agents will introduce you to a No Money Down program that will help you kickstart your journey today.

Resources: https://thepowerisnow.com/vipagentsservices/ https://www.nationalmortgagenews.com/opinion/sellingmortgages-to-millennials https://thepowerisnow.com/ Sources and Works Cited https://www.bankrate.com/surveys/down-paymentsurvey-september-2019/ https://www.stemlending.com/millennials-technologymortgage-shopping/ https://www.housingwire.com/articles/millennials-donttrust-lenders-or-the-housing-market-so-how-do-wereach-them/ https://pemco-limited.com/gaining-millennial-trust

THE POWER IS NOW MAGAZINE | MARCH 2020

[POWER COMMUNITY]

THE STATE DEPARTMENT OF JUSTICE TO REVIEW LAPD

FOR AN ALLEGED MISUSE OF CALGANG DATABASE

he California Department of Justice is reviewing the Los Angeles Police Department’s records and policies regarding the use of state’s gang member database after allegations emerged that the officers in an elite crime suppression team falsified records and listed innocent people as gang members.

The LAPD uses the database more than any other agency and according to the AG’s office, at least 20 members of the department’s Metropolitan Division are under investigations after the authorities found discrepancies on-field interview cards that police officers fill out after stopping and questioning

people. The AG’s office has presented the case to LA county prosecutors for possible criminal charges. Mr. Sanders describes how the police officer responded to a report of disorderly behavior at a park near his South Central LA house where he was hanging out. While the officer

CalGang is a California database intended to identify and to track gang members and in the past, it has come under scrutiny after several allegations of misuse by the LAPD. one of the innocent people victimized by the database is Larry Sanders who is a singer-songwriter best known for singing the hook on the hit song “Gangsters Paradise.” Sanders also works as a gang interventionist. The Attorney General Xavier Becerra could revoke or even suspend the department’s access to the database. CalGang is a criminal intelligence compilation of 80,000 gang members and known associates statewide used by the local, state, federal and tribunal law enforcement to share information. 98

THE POWER IS NOW MAGAZINE | MARCH 2020

never found the reported behavior, he questioned Mr. Sanders and his friends before taking his name and leaving. “I think maybe they got mad because I told them that I was old enough to be their father,” he says. “One thing went from, you know, from my mind to the next thing. So they started searching patterns down.” One week later, Larry receives a letter informing him that he was now added to the CalGang database. However, he hired a lawyer who got his name removed from the database.

“I wasn’t what they were claiming me to be,” said Sanders. “I can’t just accept it.” Everyone who has challenged the LAPD’s decision to place them or their child in the CalGang database in court has had their name removed. Sanders was among 15 other people who appealed to their CalGang designation. So far, the city has lost two cases in court and LAPD agreed to remove 13 others who filed for a petition. The Justice Department has said that so far, they still do not know how many people are erroneously listed as gang members in the database. It declined to comment when asked if other agencies are also being investigated. LAPD’s officials, however, say that the removals were due to how the court interpreted a state law that vetoes them from submitting more evidence to the courts that they originally disclosed to the petitioners. They hold that the removals of people like Sanders do not suggest that it was putting people in the database who did not deserve to be there. Petitioners like Sanders say that their removal from the secretive database shows that they never should have been on the list in the first place and that the evidence against them was flimsy. Sanders says that the experience rattled him and

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everyone who knew him. “Thank God my grandkids don’t look at Spectrum news or read the newspapers or stuff like that, because I’ll know they be like, ‘Papa what’s going on, what are you doing with this?’ Because I’m an angel in their eyes,” he says. “And my kids, they was asking me, ‘Dad what’s going on?’ I said, man, this is not real, man.” California’s Assembly Bill 90 gave the Attorney General the authority to oversee and review the use of Calgang. This came after reports of LAPD’s misuse of the Calgang surfaced in January. Becerra says that the state’s Department of Justice is now auditing the LAPD’s use of the database. False or accurate, this evidence contaminates a system that is reliant on the integrity of its data. While the database is used as an intelligence-gathering tool, gang sentencing enhancements increase penalties in criminal cases. Back in 2016, a critical audit was done and found that the long-troubled database lacked oversight. Some agencies could not substantiate some of the listings. The Department of Justice was given oversight of the database the following year said that the officials were working on additional reforms to the system. In the face of the losses in l

court, LAPD Assist. Chief Horace Frank said that the department in December began requiring the notification letter to provide more details about the reasons for inclusion. Individuals will now be given a spreadsheet that in addition to indicating the general criteria a person met, gives the name of the officer-involved and includes a space for additional details. “We decided, ‘OK, we’ll make sure we send the person all the information as to why we’re putting you in the system,’” he said. “Unfortunately we weren’t doing that initially. We were basically just checking the boxes.” Becerra claims that the police department did not inform his office of its probe until after the media reports surfaced. The department has promised to investigate the alleged misuse and institute reforms. “The California Gang Database is a critical tool for law enforcement in its efforts to sol ve violent crime and any information entered must be accurate,” police Chief Michael Moore said in a statement. “We are committed to holding anyone who falsified information accountable and will also fully cooperate with the State Attorney General office,” he added. 100

“This new effort on the part of the Department of Justice to scrub the system to make sure the CalGang database is providing accurate information is absolutely important,” Becerra says.

Sources & Works Cited https://www.heraldpalladium.com/news/wire/stateto-review-la-police-use-of-california-gang-database/ article_898fca05-689c-55df-a5e3-74b7b04ce1a5.html https://www.latimes.com/california/story/2020-02-13/ california-gang-database-lapd-calgang https://www.wbur.org/hereandnow/2020/02/17/lapdcalgang-california-misuse

THE POWER IS NOW MAGAZINE | MARCH 2020

Home Ownership By Eric Lawrence Frazier MBA

Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own. Real Estate you own is not like cars that decay over time and you have to replace them. Real Estate you own is not like clothes that go out of style and you have to buy new ones. Real Estate you own is not like expensive vacations or experiences that only last a moment in time. Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable. Real Estate you own is not like staying at your parents house where you know can’t stay forever. Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family. Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned. Home ownership is the place you build memories that can never be taken from you. Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand. Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life. It’s the height markers on your first child’s bedroom wall. It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen. It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections Home ownership It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire. It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it. It’s more than the payments you make to own it. It’s more than the appreciation that comes with keeping it over time. It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.

The PIN Magazine March 2020

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