'Evening News': Foreclosures Causing Increased Homelessness
The April 23 "CBS Evening News" blamed turmoil in the housing markets for another crisis: a rise in the homeless population.
"The Anticos are leaving their Bradenton, Fla., home because they have to," CBS correspondent Kelly Cobiella said. "The bank foreclosed on it in February after Sharon lost her job and fell behind on the mortgage. For the first time in her life, she and her kids are homeless."
The reason behind the Anticos’ loss wasn't a bad mortgage or lost home value; it wasn't an adjusted rate that put the payment out of reach. It was that Sharon Antico lost her job and the family could no longer afford the mortgage.
"They're not alone," Cobiella said. "In their county of Manatee, 400 kids are homeless due to the foreclosure crisis and the numbers are rising in other housing hot zones across the country. Cleveland Public Schools have nearly 1,700 homeless students, 500 more than the previous school year. Minneapolis schools have 5,600 - up more than a thousand."
However, the particular family featured in the "Evening News" segment doesn't meet the technical definition of "homeless," according to the Homeless Assistance Act of 1987. The family is staying with a friend and therefore is not "homeless."
"Matthew's mom [Sharon Antico] found a family friend willing to take them in, but the tiny house is much farther from their school," Cobiella said.