Women’s Homeownership Series: Hope

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Hope and her husband, with their two daughters, moved into a beautiful 3 bedroom, 2 bathroom home in Boulder, Colorado two-and-a-half years ago. Previously living in a smaller 2 bedroom condominium a few miles away, the family enjoyed the comfort and convenience of a larger space. Their daughters, Rose and Isabelle, were happy to have their own private rooms and a backyard to practice soccer in after school.

Since the couple divorced a few months ago, Hope has taken full responsibility of the $2,500 rent. When she is not busy managing a popular clothing department store, she enjoys spending time with her daughters and painting. She aspires to feature her eclectic paintings in a gallery at the thriving art district in North Boulder, a place she frequents with friends.

Hope has fortified her career with over 20 years of hard work and dedication. Despite not having a college degree, her weekly earnings of $762 exceed that of the average female worker with only a high school diploma. She, however, earns less than the median weekly income of women ages 25 and older with a bachelor’s degree or higher.

Hope’s ex-husband provides $1,200 of monthly child support to help with expenses. Nevertheless, both her income and child support are not enough to continue living at the house with adequate savings for an emergency fund or retirement plan. More than 50 percent of her $3,050 monthly paycheck goes to rent, not including utilities.

Common advice from financial planners is that, at most, a person should spend 30 percent of their income on housing expenses. Hope is already experiencing the burden of not having leftover income to put in savings. With additional living expenses, she only has $200 left every month for unexpected costs and the occasional take-out meal with her daughters.
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Vicky Silvano AREAA 2016 National Chairwoman

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1. What is the experience of being the chairwoman of an organization like the Asian Real Estate Association of America (AREAA)? What was your favorite part of your work as chairwoman and your proudest achievement?

Getting to the onset of being the leader of a big organization is overwhelming. Coming from the most quintessential immigrant story that you can think of, it was the first time I would be leading a huge organization. Obviously I’ve been president of smaller groups, but this was kind
of overwhelming.

The fact that I was entering a leadership role where increasing homeownership within the AAPI community is a big goal was something to look forward to. It was nerve-wracking, but I was really looking forward to what I was going to be able to do and achieve within my time as president.

It was a great and very interesting time for me; it was good timing. My family was very supportive and important to me getting into this leadership role.

My proudest achievement was the successful “No Other” Campaign that we had, but a significant part of my work is visiting all of our chapters and really looking at the grassroots level because that is where I thrive. I’m able to connect with these professionals and make sure the chapters are sustainable and doing the necessary things to contribute to AREAAs collective success. Going into “No Other,” we really became unified and made a concerted effort to focus on the campaign.

I’m a people person. I like talking to and connecting with all the chapter leaders and members, making sure that we’re moving towards the same goals and working to increase the homeownership of our community. The members are really the biggest thing for me; without membership there is no AREAA. Reaching out to them, chapter leaders and members, is the fun part for me.

This connects to my meetings with top executives from the lending institutions we work with; I know who they are, and they know who I am. I’m more of an execution type of person than the talking type.
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The Future of Small Businesses

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With limited employees, capital and resources, small businesses are hit the hardest by rigorous regulations, and the expense of compliance often poses sustainable growth roadblocks for the entrepreneurs who need it the most. The following months could prove especially pivotal for small business owners, as the possibility of new legislation and regulations grows.

Access to Credit

A vital decision on the horizon is the possible repeal of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which has constrained some mall businesses and homebuyers seeking access to credit. As data from the Federal Reserve Bank of St. Louis shows, in the six years prior to Dodd-Frank, small bank lending surpassed large bank lending by over 150 percent. In the six years after the bill’s passage, small bank lending sits nearly 80 percent below lending from large banks.

The bill’s stringent credit qualifications have arguably limited Americans in their personal and professional lives, increasing the difficulty to access business capital and home loans. The possible repeal of Dodd-Frank could mean easier access to credit for millions of businesses, increased homebuyers and a stimulated economy.
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2017 Women’s Collaboration without Baggage

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Over the past decade women have made significant strides in the women’s movement, uniting in greater numbers and forming groundbreaking organizations. Within this progress, it is necessary for women to collaborate without holding back; if we cannot thrive together, we are breaking the unity and leaving some women behind. Whether it’s between best friends, family, social media followers, casual acquaintances or the press, it is crucial for women to express support for one another. The camaraderie in our forward-thinking, intense conversations should be felt as we recognize and celebrate our work and achievements.

Collaboration

What holds you back in this collaboration? What is your baggage? As women, we can often be each other’s worst enemies; which, given the obstacles we’re already facing, is entirely counterproductive. Rather than celebrate another woman’s successes, we criticize or downplay her achievements. We see another woman’s successes as a reflection of our own missed opportunities or failures. In other words, we compare ourselves to each other as if we are competitors in the race to success.

However, by seeing other women as our partners, and not competitors, we can help push each other to the finish line. One woman’s win is a win for all women, just as any achievement in gender equality affects us all.

Women are born multi-taskers, and with each generation—augmented by our own desire to compete harder and faster—more and more is put on our plate. Women’s habit to burn the candles at both ends has had direct consequences, notably in the fact that heart attacks are the leading cause of death among women. By focusing our efforts, and especially by helping one another, we can advance the women’s movement and lighten the weight on our shoulders by working smarter.

While we are seeing improvements in the gender wage gap, more needs to be done to reach gender parity.

Women’s Movement
Driven by the fight for equality, the many focuses in the women’s movement can at times delay our progress. We need a defined foundation, a common ground on which we can all stand and advocate in the movement for equality.

Perhaps different groups can agree on an issue like eliminating the gender wage gap, but disagree on a separate women’s issue. Should they work towards the ideal upon which they see eye to eye, or allow their differences to prevent their collaboration?

If you dig deep enough, you will eventually find something about a person with which your views do not align; but any work or progress you’ve made together doesn’t have to go down the drain. This is not the correct or productive thing to do.

Having different opinions is common, and it’s okay for women to be involved in one aspect of the women’s movement without participating in another. We must be united in spite of our differences, not driven apart by them. Being united as one force does not mean that we forget what makes us different; unity amidst diversity requires that we acknowledge our differences as unique experiences and strengths that each can bring to the table.

A balanced platform allows women to be united under defined ideals, wants and beliefs without leading to disagreements about other points of view. To build a foundation from which we can collaborate for change, we need to distinguish the core values that underlie the different sectors in the women’s movement. There must be a belief that motivates each of the issues we promote, such as the right for equality or freedom. Discovering what our issues have in common will help us form a frame for a cohesive, directed force. This is important not only in moving us forward in achieving shared goals, but also in making our cause distinguishable to others because everything we support and advocate for will be connected to the bigger picture.

Each of us focusing on disparate problems will not provide enough impetus for change. Without a foundation on which we can all stand together, we lack the collaborative spirit necessary for the women’s movement to grow and flourish. Right now, we are carrying many token bags, each holding a singular issue, which is preventing us from getting enough traction; however, we can increase our mobility with a heavy-duty, compartmentalized backpack which can hold the many issues and values that matter to us. This backpack is the only baggage we need.

A Helping Hand in the SEC Small Business Advocate Act of 2016

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Small businesses are the backbone of the U.S. economy. With the jobs and services they provide, the 30 million small business owners in the U.S. keep the country moving forward one community at a time. However, with limited employees, depleted resources and unforgiving competition from larger companies, small businesses are often at risk of being forced to close their doors.

The resources for small business owners, like the Small Business Administration (SBA) and campaigns like Small Business Saturday, are important and incredibly useful. With the funding opportunities and awareness they provide, these outlets can mean the difference between increased revenues and a permanently closed sign. Soon small businesses will have one more valuable resource at their disposal.

On December 16, 2016, President Barack Obama signed HR 3784 or the SEC Small Business Advocate Act of 2016 into law. The act will create a new Office of the Advocate for Small Business Capital Formation within the U.S. Securities and Exchange Commission (SEC) tasked with pursuing the interests of and addressing the obstacles to small businesses.
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Advances: New Immunotherapy Treatments for Breast Cancer in 2017

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Peter P. Lee, M.D., the Billy and Audrey L. Wilder Professor in Cancer Immunotherapeutics at City of Hope, has for two decades been interested in treating cancer by stimulating or enhancing a person’s own immune system. This approach, called immunotherapy, has gained much attention in recent years and Lee is a leader in the field. His outlook for 2017 is full of promise for a more personalized approach to breast cancer treatment.

“It’s very exciting that we’ve seen a dramatic response for immunology in patients with cancers like melanoma, lymphoma, bladder cancer and others,” said Lee, who is chair of the Department of Immuno-Oncology, co-leader of the Cancer Immunotherapeutics Program and a professor in the Department of Hematology & Hematopoietic Cell Transplantation. “But breast cancer has lagged behind a bit and so we’re trying to understand why it’s different and how to make immunotherapy more effective for breast cancer  patients.”

Fortunately, he said, there have been advances in understanding the relationship between the immune system and breast cancer and the difference between subtypes and their response to immunotherapy.
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Personal Interview: Kelle Nolan


1. What do you enjoy doing when you’re out of the office and work isn’t on your mind?

What I most enjoy doing is spending time with my husband and our two dogs. We enjoy being outdoors and going for walks. I enjoy crafting, scrapbooking, and anything that has to do with being creative. These are the top things that I try to concentrate on when I’m trying to relax. I also like to read.

In my crafting I concentrate on rubber-stamping and scrapbooking, paper crafting is how a lot of people refer to it. When I do read it’s usually about self-improvement or motivation. The book I’m currently reading is Be Obsessed Or Be Average by Grant Cardone.

2. What is something most people don’t know about you that they would be surprised to find out?

I think people would be surprised to find out that I enjoy watching golf tournaments on TV. Most people find them very boring, but I actually like watching them.

3. Who is a role model of yours? Why do you look up to this person?

Professionally I would have to say Jackie de Maria, a former employer of mine. She is definitely a professional role model, she demonstrated to me that a woman in a very high position within an organization that is male-dominated can have it all. Jackie balanced her professional career, home life, children, and was a strong, effective leader. She’s someone I look up to and had as a mentor early on in my career.
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