SOCI 1010 1nd Edition Lecture 12 Outline of Last Lecture I. Povertya. The big ideab. U.S. Government definition i. Criticisms II. Historical Housing:a. The big ideal 2b. Historical housing policyc. Relevance of Historic Policy for Todayd. Current Issues in housing (Shapiro)Outline of Current LectureI. Current Issues in housing (Shapiro)II. Intersection of Race Gender & Social Classa. The Big Ideab. Interlocking nature of oppressionc. Three dimensions of oppressioni. (Continued Friday)Current Lecture I. Current issues in housing (Shapiro)- Focuses on access to mortgages- Says there continues to be forms of housing inequality today that affects peoples acquisition of wealtha. Subprime loans: loan given to people who can’t qualify for conventional loans (may have a lot of debt, credit issues, etc.) Much riskier than primary loansi. Bank still needs to make money so they do the following:1. Balloon payments: payments are lighter at the beginning and larger at the end. a. However, if you cannot pay the large amount at the end, you default and the bank gets your house (or what you took the loan out on)2. Prepayment penalties: with a subprime loan, you cannot pay extraon your monthly payment without being charged a significant feea. If you get an inheritance and want to pay $5000 one month, you can’t without paying a large fee3. Variable interest rates: if interest rates go up, your payments can go upThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.b. Mortgage interest rates:i. Even with the same credit worthiness, African Americans are more likely to be denied or be charged higher interest rates than whites1. One reason may be that African Americans or other minority groups tend to have less money to put down upfrontII. Intersection of Race, Gender & Social Classa. The Big Idea: Race, gender and social class are interlocking forms of identity and inequalityi. The author wants people to look at race, gender and social class as alwaysthere and recognize that experiences are shaped by all factors!b. Interlocking nature of oppression:- Classifying someone as “Either/Or” is a problem. Why?I. Simplifies people/experiences as oppressed/oppressora. People are combinations of privileged and disadvantagedb. Experiences are based on all dimensions at the same timeII. Leads to ranking disadvantagea. Roles of race may be more “salient” in a specific situationi. Even though they all may not be equally visible (race, gender and social class) they are always all there. c. Three dimensions of oppression:i. Institutional: the ways in which race, gender, class and oppressionare working into a system 1. Example: plantation/university – slavery was not just about race, but also gender and class (although they weren’t as visible they were still
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