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Occupy Movement: From Wall Street to Main Street

December 6, 2011 RSS Feed Print

What do you get when Occupy Wall Street-ers turn their ire on the housing and foreclosure crisis? The Occupy Our Homes movement, of course.

On Tuesday, Occupy Wall Street joins forces with housing activists in a National Day of Action to "stop and reverse foreclosures" according to the Occupy Our Homes web site.

Rallies—which will take place in more than 20 cities across the nation from Los Angeles to St. Louis to New York City—unify the efforts of organizations around the country to stop banks from repossessing homes and raise awareness about the devastating impacts of the foreclosure crisis. Protesters plan to protect families facing eviction by police and reclaim vacant bank-owned homes for families in need.

[Read: 'Occupy Wall Street' Tries to Harness Anger on the Left.]

"The Occupy Wall Street movement and brave homeowners around the country are coming together to say, 'Enough is enough,' " the Occupy Our Homes web site said. "We, the 99 percent, are standing up to Wall Street banks and demanding they negotiate with homeowners instead of fraudulently foreclosing on them."

In New York City, the birthplace of the Occupy Wall Street movement, supporters plan to march through a Brooklyn neighborhood hit hard by the foreclosure epidemic and take stock of foreclosed properties for the growing Occupy REAL Estate Listing Service "so families can reclaim foreclosed homes in their neighborhood," according to a release. The march will culminate in a housewarming block party.

[Read: 45 Months to Clear Distressed Housing Inventory.]

In Florida, protesters plan to hold a Fraudclosure Devastation Candlelight Vigil, to highlight, among other things, the impact of predatory lending.

To find out more about events happening in your area, check out Occupy Our Home's website.

mhandley@usnews.com

Tags:
housing,
housing market

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Go Occupy, Tell them about all the outsourcing from all 3 major companies in the past 60 years, How they killed the united states. We are Economey Dependned on China, and how much did we borrow from China. How much tell us.

Nicky of FL 10:36AM December 12, 2011

has #ows become a folly?

http://littlebiggy.org/4660547

jen powers of CA 12:58AM December 07, 2011

This should be interesting.

If the houses were all put on the market at a price to sell then this action would beg to stand on moral grounds.

But and here is the point. The houses aren't generally put on the market at a price to sell because then the Banks would have to change the value of the house that they have listed on their balance sheets. This would mean that they don't have the leverage to make money with money. But the truth is that the values on their books now cannot be ever acquired by them so they are overextended now.

The housing market price is kept artificially high because the banks are holding empty houses in every neighborhood.

stephen weber of CA 12:45PM December 06, 2011

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