by Dana Lyn Guest
Prominent community leaders, Gene and Eva Royale celebrated their daughter’s gay wedding with an Aztec ceremony and close friends to the family at San Francisco’s City Hall. The event took place on July 28.From left to right, with flower crown Tomasita Medal; Antonio 6 and Emiliano 4, next to Tomasita is Nena Royale, the couple – Jane standing behind Lisa Royale – Dolores Huerta; Eva and Gene Royale, Antonio Hobson; and Clara Gardner. (photo by Marvin J. Ramirez)
The National Association of Hispanic Real Estate Professionals, in a letter to lawmakers, supported measures for a federal bailout for Fannie Mae and Freddie Mac.
NAHREP joined cohort Asian and black real estate professional organizations in support.
The U.S. Treasury and the Federal Reserve Board took steps July 13 to assure the two mortgage companies would have adequate funds to weather the financial crisis caused by subprime financing.
Further instability in the housing market could potentially rock the overall national economy. Fannie Mae and Freddie Mac purchase or guarantee from 40 to 60 percent of all mortgages in the United States.
Treasury Secretary Henry Paulson said the Bush administration plans to ask Congress to enact legislation to increase temporarily the two housing corporations’ lines of credit. The U.S. Treasury would be also allowed to buy stock in the companies, if necessary.
The potential cost to taxpayers for the measures could top $25 billion, according to Congress’ top budget analyst Peter Orszag, director of the Congressional Budget Office.
He predicts the chance that the government might need to step in as less than 50 percent According to the Associated Press, Paulson stressed on July 22 in a New York speech that the support package was “central to the speed with which we emerge from this housing correction.”
“Fannie Mae and Freddie Mac have previously worked closely with NAHREP… to promote affordable homeownership in underserved communities,” said Timothy Sandos, NAHREP’s president.
He went on to stress, “Without these important institutions, we believe that the current real estate crisis would be signifi- cantly worse, particularly for many Hispanic families looking to fi nance their fi rst homes or to refi nance out of existing high-cost mortgage products. “
Hispanics make up about 15 percent of the total U.S. population. Many are in the under-40 age group that makes up a high proportion of first-time homebuyers.
In a tight economy these are the consumers least likely to have access to loans for home purchases,” said Sandos.
In other news:
Four More Conclaves Top Hispanic Agenda in July and August
by Kelcey Cottin
While the 2008 cultural salutes of NALEO, LULAC and NCLR are now history, the summer parade of national gatherings focusing on Hispanic issues carries on. Four more Latino conventions and conferences are joining the celebration.
- The American GI Forum of the United States, a frontline fi ghter for Latino civil rights following World War 11, is holding its 60th annual event in Denver July 22-27. Its focus is the advocacy for Latino veterans. Forum senior advisor George Autobe says 250 registered delegates and their families are expected to attend. For more information: www.americangiforum.org.
- The National Association of Hispanic Journalistsis one of the four participating race- and ethnicity based professional groups joining together at the UNITY 2008 Conference in Chicago July 23-27. The world’s largest gathering of journalists of color, UNITY 2008’s fourth meeting since its 1994 debut in Atlanta will address pressing issues affecting journalism and the media industry. The nation’s Hispanic, black, Asian and Native American journalists’ associations now meet together in presidential election years. Some 8,000 alliance members came together at UNITY in 2004 in Washington, D.C. More information: www.2008unity.org.
- The National Conference of Hispanic Legislators holds its 4th annual meeting in Chicago July 20-Aug. 3. It is being held in conjunction with the American Legislative Exchange Council’s annual session. For additional information, check: www.hispaniclegisiators.com/events_details.esp?fevents_id=22.
- The Labor Council for Latin American Advancement holds its 17th national membership convention in Orlando Aug. 4-8. LCLM meets every two years, brining community leaders, unionists and members together for workshops, policy sessions and voter registration activities. Some 400 people are expected to attend. More information: www.lclaa.org. Hispanic Link.
