Unknown; Occupy Wall Street Archives Working Group
Object Type
Flyers and Handouts
Description
In the wake of the 2008 recession that led to approximately 10 million people losing their homes, Occupy sought to bring renewed attention to housing justice. After a period of widespread predatory lending and unregulated markets, the federal government did little to combat the growing housing crisis in the United States. After the 2008 market crash, home values plummeted across the country, and homeowners who were the victims of predatory lending found themselves in the position of having outstanding loans with a higher principle than the market value of their house. This was what was known as an "underwater mortgage." Occupy called attention to these issues, holding rallies in support of homeowners at risk of losing their homes.
Image Description
On this black, white, and greyscale photocopied flyer, a scuba diver swims underwater below a series of hand drawn houses. The flyer is for a rally calling for "principal reductions for underwater loans." The flyer states that the rally is on January 30th, 12-1:30pm and that participants should "meet at 50 Rowes Wharf *bring your swimsuit!"
Citation
Underwater mortgage flyer, circa 2011-2012; TAM.630 Occupy Wall Street Archives Working Group Records; box 36, folder 16; Tamiment Library/Robert F. Wagner Labor Archives, New York University