More than 100 people participated in the “Going Home” rally yesterday
at the Illinois Statehouse in Springfield, calling on legislators to
support the closing of state institutions and expand community living options for people with disabilities.
Minimum wage workers in Illinois must work 82 hours per week — more than double the hours of a standard work week — and 52 weeks a year, in order to afford to rent a safe, reasonable apartment unit, according to a recent report by the National Low Income Housing Coalition (NLIHC).
Illinois renter must earn $17.02 per hour to
afford the Fair Market Rent (FMR) price of $885 for a two-bedroom
according to the report. That translates to $2,949 per month in income, or $35,392 annually, to ensure the renter spends less than 30 percent of their income on housing.
the minimum wage in Illinois is $8.25. Meaning, minimum wage workers
must work a staggering amount to avoid destitution.
Female mortgage applicants are less likely to have their loans approved than their male counterparts, according to a new report by the Woodstock Institute, prompting researchers to call for further investigation into gender discrimination in lending practices.
After studying 2010 Home Mortgage Disclosure Act (HMDA)
data for the Chicago six county region, which includes Cook, DuPage,
Kane, Lake, McHenry, and Will counties, the Woodstock Institute found than “female applicants overall were about 8 percent less likely to have
purchase mortgages originated and about 21 percent less likely to have
refinance mortgages originated than were male applicants.”
to the report, for every 100 extremely low-income households in
Illinois, there are only 28 available and affordable rental homes. In
Illinois, a family of four is considered extremely low-income if their
annual income is less than or at $21,650, which is 30 percent of the area median
Extremely low-income renters typically spend more than half their income on rent, according to researchers.
you are paying 60 or 70 percent of your income toward your housing
costs, there’s not much money left for the other necessities of life,
such as food, medical costs or investing in your education,” said Bob
Palmer, policy director for the statewide housing coalition, Housing
Derived from a long history of discrimination, a staggering
opportunity gap has widened financial disparities between black and
white Americans, condemning African Americans to less home equity,
according to a new report by the Institute on Assets and Social Policy (IASP) at Brandeis University.
studying 1,700 American families for 25 years, the
report examines the major causes of America’s racial wealth gap.
Researchers found that the total wealth gap between white and
African American families had almost tripled during the study, increasing
from $85,000 in 1984 to $236,500 in 2009.
Although the Chicago are saw a year-over-year decrease on homes with
negative equity, there were still almost 645,000 homeowners that owed
more on their mortgages than their homes were worth at the end of