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

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Targets you nailed it!šŸ‘
Keep us posted as to when she intends to speak to all the others you seem to think she is including in her statements
 
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Not at all Iā€™mglad we finally agree she was targeting the blacks to whom she was speaking.Again ,let us know when she address the same concerns to the other groups in that red line district.
 
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Jeanne_S said:
Not at all
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I am glad that you addressed that, because it is not the least bit clear from your posts.
Jeanne_S said:
Not at all M glad we finally agree she was target g the black
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Where do you get that idea that we agree? Are you actually reading the posts?
The point that I made consistently was that the program targets the effects of red-lining.
 
I read ā€œLife at the Bottomā€ by Theodore Dalrymple. It reads a lot like what youā€™re describing, although not that detail. Gross.
 
DENNYINMI said:
If I view it in terms of my faith I believe it is difficult to find God if you are without minimal things people need, employment, food, and shelter.
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This seems counter-intuitive when the Catholic faith seems to be declining in MDCs (More developed countries) and growing in LDCs (less developed countries).
 
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DENNYINMI said:
If I view it in terms of my faith I believe it is difficult to find God if you are without minimal things people need, employment, food, and shelter.
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The global rate of extreme poverty is lower than every recorded.
(Please Note: This uploaded content is no longer available.)

I expect the remaining % will be much more of a challenge.

www.worldbank.org

Decline of Global Extreme Poverty Continues but Has Slowed: World Bank

Fewer people are living in extreme poverty around the world, but the decline in poverty rates has slowed, raising concerns about achieving the goal of ending poverty by 2030 and pointing to the need for increased pro-poor investments, the World Bank finds.
www.worldbank.org www.worldbank.org
 
Jeanne_S said:
Not at all Iā€™mglad we finally agree she was targeting the blacks to whom she was speaking.Again ,let us know when she address the same concerns to the other groups in that red line district.
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No offense, but this is so 1970s. Redlining was made unlawful then and it has been vigorously enforced since. It was a negative provision, enforced largely through federal lender regulation. A complementary law, the Community Reinvestment Act, provided a positive obligation on the part of lenders to loan as much money into census tracts as it took out in deposits.
 
Jeanne_S said:
I was only repeating what DVDS used as a term.KH also
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I realize that. No offense intended.

I think we probably agree that redlining is basically nonexistent, and has been for a long time. Given how easy it is to get a 100% + loan nowadays, I donā€™t think anyone is deprived of home ownership if they have the supporting income and decent credit. I see loan applications almost daily, and I really donā€™t see how people afford the payments theyā€™re taking on. Thatā€™s particularly true of recent immigrant Hispanics, but they always manage when lots of others wouldnā€™t.

Credit standards have slid as well. It used to be that ā€œexplanationā€ based credit upgrades were nonexistent. Now theyā€™re very common. But again, those are federally-insured loans, and the government (taxpayers) guarantees them, so nobody cares.
 
Ridgerunner said:
I think we probably agree that redlining is basically nonexistent, and has been for a long time.
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Do you believe that the practice called redlining was really racist in the first place? If I have the option of lending for a home purchase in an area where home prices are going up or in one where prices are only steady or declining, I just might find the former to be a lesser risk.

A great deal of our last recession was caused by over-leveraged people who walked away from homes that were worth less than what they owed and hurt entire neighborhoods as the dominoes continued to fall.
 
Trader said:
Do you believe that the practice called redlining was really racist in the first place?
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Oh, yes, there was a lot of racism involved in that. Banks were ā€œdiscouragedā€ from making mortgages in those areas, etc.

There were also covenants prohibiting sale to ā€œunsuitableā€ people, at that time mostly Jews.

In addition, a lot of minority inner-city neighborhoods were targeted for development of bigger projects like highways and skyscrapers. There was a case before Kelo v New London Conneticut.
 
Trader said:
Do you believe that the practice called redlining was really racist in the first place?
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I donā€™t think it was intentionally so, for the most part. Bankers will make money where they can make money, and donā€™t care too much about the color of the hand that gives it to them.

But I will say there was a lot of it that was inadvertent and probably had that effect. De facto redlining was based on economics. If a segment of a town was largely owned by landlords, that drove prices down because landlords wouldnā€™t pay what a homeowner would pay for the same house. And so lenders discounted whole neighborhoods.

But that really did end in the 1970s because of anti-redlining regulations and CRA. If a white neighborhood was landlord-owned, you could avoid the neighborhood, but CRA even made that difficult. If a neighborhood was black, both anti-redlining and CRA caused lenders to actively seek out loans in neighborhoods that would otherwise have been redlined.
 
The problem here again is that what some people consider a virtue others consider a vice.

We have the socialist inspired persecution complex and belief in the power of the state to have the right to take off others to solve any and all problems of supposed ā€˜injusticeā€™ such inspiration has created.

If you want to increase the level of black home ownership look at the many blacks that have done exactly that for themselves and promote those skills and attitudes. First would be keeping the fathers in the home. It is very hard to buy a house as a single parent raising children. Secondly, encourage an attitude of putting education as a priority. It is even more difficult for a single parent to buy a home while raising children and having a low level of education.

Thirdly, kill this religion of political correctness that divides society by seeing everything as oppressed versus oppressors and a taxing authoritarian government as the tool of justice.
 
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