African american strategic planning group aaspg individual community wealth building significantly improve the economic status and wealth of african americans at all levels. Objectives: increase the following rates for african americans to levels comparable with the general community incomes such that the poverty rate decreases from 34% to 14% of less per capita income from 1990 8,072 to $15,324 or more ratio of income to white males from 45% to 100% or more double total household incomes from 1990 914,396,160 to $2 billion or more. Develop a long term comprehensive strategy to significantly improve the economic status and wealth of african americans at all levels.

These must include individual and community wealth building strategies, and strategies that promote entrepreneurship and business development within the african american community. Develop strategies and programs, which promote individual wealth building and financial independence. Proved technical assistance to educate african americans on the importance of individual wealth building based on sound personal financial planning and management.

Convene a forum of black church leaders to consider the potential for a coalition of black churches on economic development. Convene a forum of african american professionals to consider the potential for collaborations, coalitions and other initiatives to promote individual and community wealth building and economic development. African american business development significantly increase the number, mix and size of operation of african american businesses. Objectives: increase african american business average annual sales receipts by 50% or more types and mix by increasing numbers in all categories by at least 10% particularly professional and technical service fields.

Home ownership, the dominant form of housing tenure in the britain, competes against social housing provided by local authority and housing associations and private rented accommodation. Home ownership was famously encouraged by margaret thatcher prime minister from 1979 1990 through right to buy policy and the notion of a 'property owning democracy'. Whilst it brings many advantages, home ownership is not without its disadvantages. This essay seeks to analyse the advantages and disadvantages of a system where home ownership as the dominant form of tenure. First, the significance of home ownership will be explored, with arguments in favour and against home ownership following. Today, with approximately 70% of households in britain being under owner occupation, it is easy to believe that home ownership is the obvious and rational form of housing tenure, and always has been.

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However, in 1914 home ownership in britain stood at only 10%, rising to around 49% in 1971 and 69% in 2002data for 1914 from marsh mullins 1998: 11 data for 1971 2002 from national statistics online 20 april 2002 the 2002 general household survey: a summary of changes over time housing tenure. Britain, at the turn of the century, was a nation of tenants and this applied to rural and urban areas and to the rich and the poor. Home ownership should not therefore be viewed as the natural tenure mass home ownership is a product of post war history. 1998: 80 further, whilst home ownership may be the most popular form of housing tenure in britain today, other nations see varying forms of housing tenure. 1991 statistics show ireland and spain with over 80% home ownership, the uk with 67%, the us at 59%, germany on 40% and switzerland with only 29% home ownershipsource: steve kanga's web page, data reproduced with permission from michael wolff 1992 where we stand. Online: homes are expensive, so most home owners take out a loan a mortgage to buy their home. Usually, a mortgage isn't required only if the purchaser has another house to sell for example, if they're trading down.

For first time buyers, except for in exceptional circumstances, a mortgage is almost always required, and the percentage of the total house price of that mortgage is high. In 1979, their first time buyers percentage advance had reached a long term low of 74% in 1982 85 it reached a high of 85% ball, 1986: 38. Mortgage debt as a proportion of total house price has not only risen for first time buyers. The importance of this debt will be considered when assessing the advantaged and disadvantages of home ownership.

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Whilst there are many interrelated factors which have helped the level of home ownership increase in the uk, the role of the building society is perhaps one of the most important. Before building societies, it was extremely hard for an individual to borrow enough money necessary to buy a home. In recent years, building societies have been on the demise, losing their mutuality and replaced with regular banks which serve the same purpose. Government policy can also be seen to strongly influence the increase in property ownership.

Thatcher's government of 1979 1990 is most notorious for pushing the notion of a 'property owning democracy' and encouraged this through a generous right to buy policy aimed at those renting council accommodation. But whilst perhaps the most well known and pivotal, thatcher's government is by no means the only to advocate home ownership. Blair's new labour government commenced the 'starter home initiative' in 2001 to help key workers, primarily teachers, health workers and the police, to buy a home in areas where high house prices are undermining recruitment and retention office of the deputy prime minister, about the starter home initiative. Online: before one can understand many arguments concerning property ownership, it is first necessary to have a comprehensive understanding of the links with the political economy. Perhaps the greatest advantage given for home ownership is in creating a 'property owning democracy' in which individuals have a direct stake in the economy and their country in fact, they literally own part of their country.

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However, i argue that this could in fact be a disadvantage rather than an advantage as it creates dependency and a fallacy of security and sustainability based upon unsustainable cornucopian politics and economics. Maurie in marsh mullins, 1998 explains how home ownership stabilises people politically 1998: 83 , therefore eradicating revolutionary bolshevik views and encouraging a conservative short term self interested electorate which is perhaps blind to long term economic and scientific realities. To understand this argument, it is necessary to assess the sustainability of an economy on which home ownership is based. As has been explained earlier, in order to buy properties most people require a loan in the form of a mortgage. At some point, that loan will have to be paid back with interest as a reward to the lender. The size of a loan which can be secured is based upon credit history and salary in general, it is possible to obtain a mortgage equal in value to approximately four times an individuals' yearly salary. So, for example, if a prospective buyer has a salary of £30,0 then they may be able to get a mortgage for up to around £120,0.

Recently, however, it has been discovered that mortgage lenders often encourage buyers to lie about their earnings so as to secure a larger mortgagebbc news online 11 feb 2004 self cert mortgages could skew market. Online: an individual with a mortgage is clearly extremely reliant upon their salary, upon having a well paid job. In a country where home ownership is the dominant form of housing tenure, a high level of employment is crucial. However, i argue that full employment is unsustainable due to a saturation of industries and markets, and also because of technological unemployment that is, technology is replacing jobs previously performed by humans without a corresponding increase in the supply of new jobs elsewhere. Whilst the uk may currently be experiencing a low level of unemployment, i view this as a short term feature of the technological unemployment occurring. For example, many of the current new jobs are temporary jobs in which some individuals are working on fairly simple tasks whilst others are employed as programmers or in research and development to find a way to automate those jobs or find alternatives to themsee my dissertation online at mortgages are lent with a rate of interest which is usually either fixed over a term or variable based upon a function of the bank of england base rate. In general, the lower the bank of england base rate, the cheaper the repayments on a mortgage.