Economic Edge
By Crosscurrents Producer on Jun 6 2011 - 4:34pm
Since the banking crisis of 2008, major lenders have become much more cautious about giving out loans. That’s left many people who have low or no credit in a deep financial hole. So one local group decided to re-invent an old concept—the lending circle: Members of a community deposit money into a...
By Bridget Huber on Mar 2 2011 - 3:12pm
The city of Oakland has about 5,000 properties in foreclosure. Every one has a story.
ROSA FERNANDEZ: I used to come home, cook dinner, go to my room, lock my door, and I used to cry. Every night, every night.
But many of the city’s other residents can’t afford a home, even with help. Oakland’s...
By Casey Miner on Feb 16 2011 - 5:00pm
The number of homes sold in California is rising, according to the latest reports, but their value is dropping. It’s a combination the California Association of Realtors attributes to the sale of “distressed properties,” meaning foreclosed homes. Look behind the numbers, and you’ll find distressed...
By Casey Miner on Feb 9 2011 - 5:00pm
Since the country’s foreclosure crisis began in 2007, at least two million people have lost their homes. In the Bay Area, more than 70,000 homes are currently in some stage of foreclosure. And even though the economy might be getting better, they’re still happening.
Both here and around the country...
By Deia de Brito on Jan 11 2011 - 5:00pm
In the 1940s, San Francisco’s Bayview Hunters Point was home to one of the most important shipyards on America’s West Coast. The shipyard employed nearly 20,000 workers. They were mostly African-American migrants who came to San Francisco, lured by the Navy’s promise of steady work. The buildings...
By Martina Castro on Nov 15 2010 - 5:03pm
Since May of this year the U.S. economy has finally shown signs of stabilizing. Industries like healthcare, retail and trade have even made some considerable gains. But that’s little consolation for those who are out of work. The total number of jobs lost during this recession has hit 7.7 million....
By Hana Baba on Nov 11 2010 - 2:53pm
California's financial crisis has forced many people into homelessness and many people have abandoned their homes. While fewer people are foreclosing upon their homes in month-by-month and year-by-year studies, the city of Stockton still has one of the highest home foreclosure rates in the country...
By Sarah Gonzalez on Sep 15 2010 - 3:44pm
Jobs continue to be scarce all over the country right now. In California, the unemployment rate is at a record 12.5%, and in Oakland, it’s over 17.5%. But when you drive down the main drags of East Oakland, people are hard at work in a different economy. You’ll see some young men selling drugs and...
By Rina Palta on Aug 18 2010 - 3:09pm
The national health care reform package will have a big impact on the economy, yet many Americans are still out of work, and not just newcomers to the job market.
There are some two million adults in the US who are 55 years or older and unemployed. They’ll spend an average of...
By S. Howard Bransford on Aug 12 2010 - 4:37pm
A couple of blocks away from where the Bay Bridge enters San Francisco, there’s a place that has been called “a civic disgrace.” “A decaying pit of despair.” “The bus station from hell.” Local writers have used all of these words to describe San Francisco’s Transbay Terminal.
Last weekend, critics...
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