New Report: The Win-Win Solution: How Fixing The Housing Crisis Will Create 1 Million Jobs

Report Findings:

By writing down all underwater mortgages to market value, the nation’s banks could:

1. Pump $71 billion into the economy every year;
   - In New York state the annual stimulus would equal $1.25 billion
   - In Ohio, $1.64 billion
   - In Florida, a staggering $12 billion
2. Create more than one million jobs annually;
   - In Massachusetts this would create over 35,000 jobs
   - In Illinois nearly 43,000 jobs
   - In California, over 300,000 jobs
3. Save families an average $543 per month on their mortgage payments;
4. Help investors come out ahead compared with the negative financial impact of foreclosures
5. Fix the foreclosure crisis once and for all.

Download the entire report >>

Sign the Petition to Attorneys General to include principal reductions for struggling homeowners >>

---

The New Bottom Line is a new and growing movement fueled by a coalition of community organizations, congregations, labor unions, and individuals working together to challenge established big bank interests on behalf of struggling and middle-class communities. Together, we are working to restructure Wall Street to help American families build wealth, close the country’s growing income gap and advance a vision for how our economy can better serve the many rather than the few. Coalition members include PICO National Network, National People’s Action (NPA), Alliance for a Just Society, Alliance of Californians for Community Empowerment (ACCE), Industrial Areas Foundation of the Southeast (IAF-SE) and dozens of state and local organizations from around the country.