Squatting used to be a dirty word; now it’s a real way to prevent losing everything you have. One can’t talk about the economic recession/depression, without talking about the housing crisis. Many of us know firsthand or have heard the horror stories of families being forced out of the American dream through foreclosure. The effect is widespread, but that does not mean it is proportionate.
The current crisis represents the largest loss of wealth for African Americans in history. That means it is more costly than slavery, than segregation, than any oppressive state people of color have experienced in this nation…ever. Here’s the thing about wealth, it doesn’t actually get lost as in no longer existing, it just goes elsewhere. In this case it is going to the banks, and the people who own those institutions. And let’s not forget the people who can still afford to buy property. When our economy recovers and housing prices stabilize, these will be the people holding all the cards.
Some of the people caught in the subprime mortgage-lending crisis were knowing investors who took too much risk. But most are single-property owners who bought their homes without a lawyer and without the knowledge necessary to make a sound decision.
Wall street is getting bailed out, so why not get creative and start a bail-out package for yourself and your neighbors? It is more important that the homes in our communities are occupied by people invested in those communities. It hurts the entire neighborhood when a home goes into foreclosure. Rather than paying rent somewhere else, stay right where you are. Save up for an attorney, or just save up. Earn back at least some of the wealth that has been taken from you.
When a home is in foreclosure most owners go peacefully, even shamefully. In good economic times the bank has time to evict and auction the home – fewer foreclosures and a line of hungry buyers waiting at auction. Now the banks are backed up for months processing foreclosures in some states. In many cases, the mortgage has been sold off so many times, nobody even knows which lender holds the original title. If you are forced into foreclosure this is ideal.
Now is the time to squat. And get everyone you know to squat too.
If you have a neighbor in foreclosure, you can help them by running electricity from your property into theirs. Or better yet, if it’s not too late, help them stay out of foreclosure in the first place – get a neighborhood pool going to help with their monthly payments, give them a reprieve from paying any association dues, and make sure they have an attorney.
In many cases everything a family has is invested in their property, they should not be forced to walk away from that. Home ownership is not just about pride, it’s about a secure future for our families and communities. Once we walk away, that security is compromised.