let's bring into the conversation, president and ceo of the naacp, derek johnson. mr. johnson, thank you for being with us this morning. the naacp had been calling for a minimum of $50,000 of student debt relief. what is your reaction to the president's announcement yesterday? >> i think it is a great step in the right direction. our goal is to ensure that american citizen have an opportunity to get out of the student loan debt crisis. unlike other debts, it is a super debt. can you not even get out of it in bankruptcy. the prior administration had a president who filed nine, ten, 11 bankruptcies but for student loan borrowers, these are teachers and hard-working americans who make this economy go and ensure our government is in tact. they needed some relief. but in addition to that, the interest that is charged on student loan is greater than a federally backed business loan. so we have put people before profit in this case, so i celebrate this administration for taking this important step as we continue to close the racial wealth gap. >> you've spoken and written abo

derek johnson is the head of the naacp, he fights from the heart. and i give real props for that and real respect. the plan he was talking about was the initial $10, 000, and nothing worked for nobody. that is not what actually came through. in fact, the majority of people who will get student loan debt will get $20,000 of debt forgiveness. it will be a smaller portion that get 10,000. of those that get 20,000 of debt forgiveness, these are people who were pella grant eligible when they were in college. that means disproportionately these are african americans. they are veterans. they are parents, moms who are trying to go back to work. they are first generation students. in other news, we have done what democrats try to do. that is to push more of the resources to those for whom coming to college was a whole lot harder. those who have a whole lot harder time paying off that debt. so i think we are in a much better place right now with the plan, the one that the president has actually announced. now look, i'm gonna keep fighting for more. because i

the naacp has been on the frontlines with derek johnson. we have so many partners who have helped make this happen. so many people who started their own independent, not for profit, advocacy groups to make sure that the student loan debt burden is better understood across america. and that we make real changes. and that is where today marks, the first step in real big structural change. i love it. >> we were waiting for that. [laughs] the republican party is certainly not throwing a parade over this. >> oh, yes. >> they seem bullish, in fact, on the utility of this as a political -- cudgel. i will quote tom cotton, there is no such thing as student loan forgiveness, this is a bailout, paid for the large majority of americans who never went to college who responsibly paid off their debts. there is nothing the republican party loves more than a culture war. they see this as a right. this is, you know, we know that education is the dividing line in american politics. it is what really separates the republican party from the democratic party. r

today's president, derek johnson, was talking about that number.n part, if the rumors are true, we have got a problem. >>> another body blow to the housing market. according to government data, newly built home sales dropped 13% from june to july, down almost 30% year-over-year. to make matters worse my builders have stopped constructing many new houses because of rising mortgage rates . when they jumped even higher this week, builders pulled back even more. cnbc real estate corresponded , diane oleg is with us tonight. we've already talked about how there is not enough homes for sale, but i guess they are actually oversupplied. >> yes, that is right. they are oversupplied by a lot. there was a big red flag in that sales report today. builders are sitting on a nearly 11 month supply of unsold homes, a healthy market between buyer and seller is considered about a four to six month supply. not only are builders seeing demand drop, they are also seeing cancellation sore. even luxury homebuilders like toll brothers just reported a jump in cancellations

here and i want to show folks part of it off at that you cowrote with nwa si pih ko president derek johnson. here it is. canceling to send thousand dollars of debt is like pouring a bucket of ice water on a forest fire. it hardly achieves anything, only making a mere dent in the problem. so, wisdom, what would make a dent in the problem and what do you think can be done to better close the inequity gap? >> you know, since president biden announced that he would be canceling student debt to make that promise during the presidential elections station, we've been advocating for the cancellation of 50,000 or more of student debt. because we know that the cancellation of data that mark has the opportunity to close the wealth gap and increased wealth for the black community by 40%. the first cancellation was a great start, and the real victory is for those who are pell grant recipients of which many are black students, soon to went to hbcus, but recognizing that we solve a long way to go and so i think that this is something that we are going to do to for the conversation. we really applaud the w

alright, so demi, the president derek johnson said the policy would leave too many black borrowers, especiallyo show viewers these statistics here, according to the american association of university women, black women have an average about $41,466 in student loans. white women have 33,581 in asian woman $26,606 and the brookings report. court found that black graduates owe nearly $25,000 more in student loans, while others say the $125 cap ignores the reality of the racial wealth gap. now does it seem as though equity was a missed opportunity to by president trump biden's plan here to forgive some student loan debt? hmm andre, you know honestly, everyone who watches fox. those black report know that i have been really, really , really cracking down on how i felt about student loans i went to college is so i racked up lots and lots and lots of student loan debt. and so honestly when president joe biden said at first he was going to, um, you know, erase all students on debt. we were happy that it went to 50. then it went down to 10. honestly at this point, i didn't even think that it was going

derek chauvin for the killing of george floyd. i also talked about our work to address conditions inside our nation's jails and prisons and juvenile detention facilities. representative hank johnson joined us as well to talk about legislative priorities for criminal justice reform with a particular focus on drug policies, which he has championed. we also heard from desmond mead, who spoke passionately about issues facing returning citizens who are seeking access to the ballot and restoration of putting rights. finally, we heard from dr. raymond, who spoke about his school to prison pipeline and the ways that criminalization of juvenile behavior has a harmful effect on black boys. so we've got a firm foundation laid for us at our fat -- last public meeting and today we were to build on that and stand on that discussion to dive into talking about strategies. that is what we are going to hear from panelists today. we are going to focus on strategies for prevention and mitigation. and i am excited because we've got a panel of experts that comes to us from a variety of disciplines to lead us through a discussion on addressing the achievement gap between black boys and other peer group