Woodstock in the News
By Robin Amer
When James Kpoto bought his house in Minneapolis’ Jordan neighborhood in 2001, he knew he had made a terrible mistake. He moved to the 2300 block of Ilion Avenue North at the advice of his uncle, also an immigrant from Liberia. But his uncle didn’t tell him how bad crime was there — worse than in most other areas according to police data.
“There were shootings and killings almost every day,” Kpoto recalls. “It was scary.”
By Brian Honea
The number of foreclosure filings in a six-county region in Illinois that includes Chicago dropped by nearly 38 percent from the first half of 2013 to the first half of 2014, falling to its lowest level since 2007, according to data released by the Woodstock Institute on September 4.
By Michael Romain
The more low-income and the more minority a Census tract is, the harder it is for businesses within that tract to access credit, report says
By Mary Ellen Podmolik
Initial foreclosure filings during the first half of the year were at their lowest level in the Chicago area since 2007, new data shows, but getting homes through the process and out on the other side continues to slow the local housing market's recovery in some communities more than others.
Small businesses in low-income, majority minority neighborhood in the Chicago area were less likely to receive loans between 2008 and 2012, according to a new report by the Woodstock Institute.
The costs and risks of overdraft protection are not well understood by many Americans. So it's no surprise that a new study using mystery shoppers found that big banks' explanations of overdraft protection programs are inconsistent and unclear.
By Sarah Needleman
7:20 EDT - Amid a slow recovery in US small-business lending, a report out today suggests that small firms in low-income communities are struggling the most. Between 2008 and 2012, small businesses in such neighborhoods in the Chicago metro area received $817M less than their share of overall business credit, reports Woodstock Institute, a nonprofit that analyzed data from Federal Financial Institutions Examination Council, US Census and Department of Housing and Urban Development. "Just like the housing recovery, it's not even," says the study's author, Spencer Cowan. "If we have areas that are not growing, those will slow down the recovery for the entire nation." (firstname.lastname@example.org; @saraheneedleman)