Kamala Harris announces $100B plan for black homeownership, tackling racial wealth gap

  • Thread starter Thread starter TrumpTrain
  • Start date Start date
Status
Not open for further replies.
T

TrumpTrain

Guest

Kamala Harris announces $100B plan for black homeownership, tackling racial wealth gap​

www.foxnews.com

Kamala Harris announces $100B plan for black homeownership, tackling racial wealth gap

Sen. Kamala Harris, D-Calif., announced that as president she would invest $100 billion of federal money into housing assistance for black families as part of an effort to close the racial wealth gap in the United States.
www.foxnews.com www.foxnews.com

Sen. Kamala Harris, D-Calif., announced Saturday that she would invest $100 billion of federal money into housing assistance for black families as part of an effort to close the racial wealth gap in the United States if elected president.
“After generations of discrimination, it’s time to give Black families a real shot at homeownership,” Harris tweeted on Saturday.
 
I hope she understands that it’s not just owning the home–it’s maintaining it.

My husband and I have a huge list of home projects that really should be done, but sadly, cost too much. So we tackle the most urgent problems, the ones that could seriously damage the house if they don’t get fixed, and we leave all the other projects for the day when the government decides to give us several hundred-thousand dollars, or until we win the lottery (which would be a true miracle since we don’t play the lottery!). At this point, after 30 years in the home, we are seriously thinking about just leaving the “problems” and hoping that when we decide to sell, the people who decide to buy our house are huge fans of “Fixer Upper” on HGTV.

A lot of people manage to buy a home, and then discover that it costs a lot of money to maintain it.
 
Last edited:
Peeps said:
I hope she understands that it’s not just owning the home–it’s maintaining it.
Click to expand...
Yes, fundamentally it’s about jobs that pay a living wage and low unemployment in minority communities.

We have programs to help the credit worthy who can’t afford closing costs and down payments. I don’t think we should ignore bad credit risk just to temporarily get people in homes they would be able to keep.

Paths to Homeownership for Low-Income and Minority Households
https://www.huduser.gov/portal/periodicals/em/fall12/highlight1.html
 
Last edited:
It’s simply common sense that black people should benefit from the same government handouts given to white people after WW2.
 
Is this her reparations plan or just the start of it? I’m generally opposed to reparations but helping people, as long as it is means tested, with down payment and closing costs is better than handing out cash payments. The problem is this most likely is not the end of her plan for reparations.
 
Felicia1 said:
It’s simply common sense that black people should benefit from the same government handouts given to white people after WW2.
Click to expand...
Handouts?

The recipients were veterans who had fought in the war. I would say that the cheap housing was a well-deserved part of their wages for a job well-done.

I agree, it is unfortunate that due to race prejudice, the African Americans who served their country in WWII and Korea (and probably Viet Nam, too), did not get their fair share of the “wages” of a cheap home because they were segregated into their own neighborhoods, which seemed in our city to consist of the old abandoned Victorians and Queen Annes built by rich people, but abandoned in favor of the newer homes on the other side of town, away from the downtown area.

I think this was typical of many of the cities in the U.S.–white flight into newer neighborhoods, and African Americans coming from the South to move into the abandoned older neighborhoods and big drafty, energy-inefficient, difficult- to-keep up homes built by the wealthy. And many times, those big homes were divided into two or more “apartments,” which decreased the actual living space for a family.

BTW, if anyone has ever been in those “war houses” built for white people, by today’s standards, they are quite tiny. I grew up in a neighborhood of those houses.
 
Felicia1 said:
It’s simply common sense that black people should benefit from the same government handouts given to white people after WW2.
Click to expand...
Maybe the answer is the government should limit its activities to the enumerated powers in article 1, section 8. Then “hand outs” wouldn’t be an issue.
 
The program would target residents in red-lined communities – areas the Home Owners’ Loan Corporation has dissuaded lenders from investing in – which her campaign identified as a culprit behind wealth disparities.
Click to expand...
I went to look up the “Home Owners’ Loan Corporation”, because I’d never heard of them as being the deciding factor as to where investors get to invest.
The Home Owners’ Loan Corporation was a govt-sponsored corporation created as part of the New Deal. The corporation was established in 1933 by the Home Owners’ Loan Corporation Act under the leadership of President FDR.
Click to expand...
as well as–
Founded June 13, 1933
Defunct February 4, 1954
Click to expand...
Additional information about them–
Between 1933 and 1935 the HOLC made slightly more than one million loans. At that point it stopped making new loans and then focused on the repayments of the loans. The typical borrower whose loan was refinanced by the HOLC was more than 2 years behind on payments of the loan and more than 2 years behind on making tax payments on the property. The HOLC eventually foreclosed on 20 percent of the loans that it refinanced. It tended to wait until the borrower had failed to make payments on the loan for more than a year before it foreclosed on the loan. When the HOLC foreclosed, it typically refurbished the home. In many cases it rented out the home until it could be resold. The HOLC tried to avoid selling too many homes quickly to avoid having negative effects on housing prices. Ultimately, more than 800,000 people repaid their HOLC loans, and many repaid them early enough. HOLC officially ceased operations in 1951, when its last assets were sold to private lenders. HOLC was only applicable to nonfarm homes, worth less than $20,000. HOLC also assisted mortgage lenders by refinancing problematic loans and increasing the institutions liquidity. When its last assets were sold in 1951, HOLC turned a small profit.
Click to expand...
Sooooooo…

She’s blaming a government organization that hasn’t been around in 65 years for the reason why certain communities are suffering?

The only current information I saw was the bit that went–
The effects of redlining, as described by HOLC maps, endures to the present time. A study released in 2018 found that 74 percent of neighborhoods that HOLC graded as high-risk or “hazardous” are low-to-moderate income neighborhoods today, while 64 percent of the neighborhoods graded “hazardous” are minority neighborhoods today. “It’s as if some of these places have been trapped in the past, locking neighborhoods into concentrated poverty,” said Jason Richardson, director of research at the NCRC, a consumer advocacy group. Another study, published in 2017, found that areas deemed high-risk by HOLC maps saw an increase in racial segregation over the next 30–35 years, as well as a long-run decline in home ownership, house values, and credit scores.
Click to expand...
But are they making the argument that these neighborhoods have remained segregated and low-income today because they were designated as “risky” almost 90 years ago? Or should they rather be making the argument that many neighborhoods that were “risky” for investment almost 90 years ago haven’t magically improved?
 
JonNC said:
Nobody in my family got hand outs.
Click to expand...
My family got handouts from…FAMILY. In exchange for supporting his mother and younger sisters for 8 years after his father died, my father got a lot next to his mother’s house. Then he built his own house with some help from his brother the plasterer and his other brother the electrical engineer who knew something about electrical stuff. Then he painted the houses of three of his brothers, and his mother and his parents-in-law. My mother helped with the care of her mother-in-law when she was suffering from Alzheimer’s because we lived next door and Mom had only four young children at that time.

My uncle earned that degree in electrical engineering and an MBA as a partial handout for serving in the Army during WWII and suffering frostbite in the Aleutian Islands.

We will not see economic equality between black and white as long as black children are denied their basic human right to a stable, loving, two parent family at double the rate of white children. The basic building block of a prosperous society is a healthy family.
 
I wonder if she has thought out the implication of basically paying people for the color of their skin. If her goal is to further divided a country in desperate need of of unity, this would be a great start.
 
Agreed, but it is the very nature and foundation of progressive intersectionality in America today. It dominates the Democrat Party. I would speculate that, at least for some, your comment here, “However that should not apply to black people, white people or any group in general” would be considered on a par with “All lives matter”, and therefore, racism.
 
The context is that “All lives matter” has been given as a response to - and, in context, a negation of - the thinking underlying the meme “Black lives matter”, which was developed in light of pertient events.

In discussing my physical condition, it is true that all bones matter. If I were to arrive at an urgent care facility with possible broken bone, that bone, in that context, would be the one that mattered, and a deflection to talk of all bones mattering would be at least rather strange, especially if the point were said to suggest the possible break is of no particular concern.
 
Last edited:
Well…there you have it…as if we need further proofs …IT’S ALL THE FAULT OF US GREEDY …RACIST…WELL HEELED WHITE PEOPLE…or could it be sh’e just playing the race game to win the black vote…which we know will happen as it did with Obama who is black also…and who didn’t do a thing for black people.
 
I disagree. We have a peculiar, long history of horrendous racism in the US. It is important to realize that history and its residue to fully understand the meaning of Black Lives Matter, and the response All Lives Matter.
 
Last edited:
I wonder how it must feel to think you’re so inept that the only way you can accomplish something is by getting a kick-start from the government.
 
Status
Not open for further replies.
Back
Top