The Impact of the Global Financial Crisis on the Kenyan Diaspora - Prof. Grace Namwamba Speaks

In the United States, the number of home foreclosures ballooned 75 percent in 2007, with 405,000 families losing their homes. Comparing December alone, foreclosures were up 97 percent from December 2006. The states hardest hit are California, Michigan, Nevada, and Florida. Despite low interest rates and efforts to quell the mortgage crunch, a sluggish real estate market prevents strapped families from selling their homes to relieve the burden. Nancy Mwirotsi of Iowa, a former Real Estate agent says, "people flat out lost their homes." . Today, Kenya Diaspora Radio hosts Professor Grace Namwamba, an expert in Consumer affairs to discuss how the Kenyan Diaspora was affected by the Global Financial Crisis. Call +1.712.432.0900 code 643831 to ask a question or make a comment.