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African-Americans squeezed out of the housing market
CNN Money ^ | January 27, 2014 | Les Christie

Posted on 01/27/2014 10:48:32 AM PST by rightwingintelligentsia

More African-Americans are being squeezed out of the housing market.

Not only are they less likely to apply for a mortgage than any other ethnic group, but African-Americans are also 2.4 times more likely to get denied a mortgage than Whites, a recent study conducted by Zillow and the National Urban League found.

(Excerpt) Read more at economy.money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS: blackshousing; homesales; housing; housingmarket; mortgages
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1 posted on 01/27/2014 10:48:32 AM PST by rightwingintelligentsia
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To: rightwingintelligentsia

That’s racist? ;-O


2 posted on 01/27/2014 10:49:50 AM PST by miliantnutcase
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To: rightwingintelligentsia
African-Americans are also 2.4 times more likely to get denied a mortgage than Whites

It couldn't be that they are much less likely to attend college, have stable families, along with strong income? No, it must be race/s
3 posted on 01/27/2014 10:49:53 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: rightwingintelligentsia

needs the j o b to gets a crib
fool


4 posted on 01/27/2014 10:50:58 AM PST by ▀udda▀udd (>> F U B O << "What the hell kind of country is this if I can only hate a man if he's white?")
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To: rightwingintelligentsia

Because we all know white people give each other stuff for free.


5 posted on 01/27/2014 10:51:20 AM PST by dfwgator
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To: rightwingintelligentsia

And this is how 2008 all started...


6 posted on 01/27/2014 10:51:55 AM PST by DPMD
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To: rightwingintelligentsia

BS


7 posted on 01/27/2014 10:52:45 AM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: DPMD

Rinse. Lather. Repeat.


8 posted on 01/27/2014 10:52:47 AM PST by dfwgator
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I need to go look something up now. I remember years ago an online mortgage company in the crosshairs because it was discovered that blacks were turned down at a much higher rate than whites. Some groups studied this, and the mortgage company got a bit of bad press. Then it became more widely known that the mortgage company did not ask for the race of the applicant, at which time the whole kerfuffle got dissappeared.


9 posted on 01/27/2014 10:53:57 AM PST by dsrtsage (One half of all people have below average IQ. In the US the number is 54%)
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To: rightwingintelligentsia

I guess showing a few EBT cards is not considered a good credit reference for most lenders.


10 posted on 01/27/2014 10:54:19 AM PST by Red_Devil 232 ((VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!))
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To: rightwingintelligentsia

Some government action is definitely needed to correct this!


11 posted on 01/27/2014 10:56:13 AM PST by MNDude
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To: rightwingintelligentsia

I thought your black messiah was supposed to fix that for all you folk.


12 posted on 01/27/2014 10:56:44 AM PST by taillightchaser (I'm going to become a criminal so I can keep my guns.)
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To: rightwingintelligentsia
African-Americans squeezed out of the housing market

Yawn - "World ends women and minorities hit hardest."

13 posted on 01/27/2014 10:57:02 AM PST by from occupied ga (Your government is your most dangerous enemy)
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To: Red_Devil 232

“I guess showing a few EBT cards is not considered a good credit reference for most lenders.”

Well now, if the EBT cards had odumbo’s picture on them...that would be like money in the bank.


14 posted on 01/27/2014 10:57:17 AM PST by areukiddingme1 (areukiddingme1 is a synonym for a Retired U.S. Navy Chief Petty Officer and tired of liberal BS.))
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To: rightwingintelligentsia
but African-Americans are also 2.4 times more likely to get denied a mortgage than Whites


15 posted on 01/27/2014 10:57:23 AM PST by 1rudeboy
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To: rightwingintelligentsia

And more whites get denied than Asians. When oh when will we get the justice we deserve?


16 posted on 01/27/2014 10:57:26 AM PST by Andyman (The truth shall make you FReep.)
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To: rightwingintelligentsia

Government should get involved and pass a law to increase home ownership to reinvest in the community.

We can call it the Community Reinvestment Act.


17 posted on 01/27/2014 10:59:14 AM PST by Personal Responsibility (I'd use the /S tag but is it really necessary?)
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To: rightwingintelligentsia

What do you mean I need to have job to get a loan? That’s racist.


18 posted on 01/27/2014 10:59:37 AM PST by Starstruck (If my reply offends, you probably don't understand sarcasm or criticism...or do.)
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To: rightwingintelligentsia
African-Americans are also 2.4 times more likely to get denied a mortgage than Whites.

Everybody is getting denied mortgages these days. What loans are getting made are solely to employees with the right amount of documentable W2 income...reinforcing my pet theory that the mortgage markets post Dodd-Frank are being used by the Administration to reward union labor and BigCorp employees who pay their minimum annual bribe to the IRS and punish those kulaks (self-employed, small business owners) who due to deductions or losses may have little or no tax liability in a given year and can't play the game the "right" way.

19 posted on 01/27/2014 11:00:07 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: Red in Blue PA

I used to be a tax preparer in an inner city area. I saw a lot of black people who had good incomes from gubmint jobs, but they still were renting. Maybe they had rotten credit, but they had the income.


20 posted on 01/27/2014 11:01:10 AM PST by forgotten man
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To: rightwingintelligentsia

Mortgage lending only cares about income and credit score and downpayment. We get paid to do loans; skin color doesn’t matter.


21 posted on 01/27/2014 11:01:26 AM PST by HereInTheHeartland (Obama lied; our healthcare died.)
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To: DPMD
And this is how 2008 all started...

Yep. I see a new law coming. Too bad the name "Community Reinvestment Act" is already taken.

22 posted on 01/27/2014 11:01:29 AM PST by socal_parrot (I hate to say I told you so, but...)
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To: rightwingintelligentsia

Impossible. There has been a Halfrican in the White Hut for over five years. The numbers are wrong or something. Some raciss accounts?


23 posted on 01/27/2014 11:03:52 AM PST by Cyber Liberty (H.L. Mencken: "The urge to save humanity is almost always a false front for the urge to rule.")
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To: rightwingintelligentsia
...African-Americans are also 2.4 times more likely to get denied a mortgage than Whites...

How about cross tabulating that statement of fact with the current percentage of African Americans now on Food Stamps and other government poverty programs. I suspect the rationale will come in to better focus.

It appears that Blacks want Obama phones and a never-ending access to welfare programs. Seems they really aern't interested in access to the middle-class. They voted for Obama and are receiving exactly what they voted for, and knew what they were voting for.

Don't blame anyone else for Blacks not entering the middle-class. Any blame belongs squarely upon their decision making. But my guess is the corrupt MSM will try to affix blame on Whites or Republicans in an effort to further leverage white-guilt to cast those who oppose Obama as racists.

24 posted on 01/27/2014 11:07:16 AM PST by Obadiah (I Like Ted.)
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To: rightwingintelligentsia

Drug running money doesn’t count as income?


25 posted on 01/27/2014 11:09:13 AM PST by Sacajaweau
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To: rightwingintelligentsia

Since the prime contributor to a finance decision involves mathematics, it is no surprise to me that CNN doesn’t understand the logic behind the decisions.

Of course, I’ll take it all back if CNN can show me the “race” entry on the app form.


26 posted on 01/27/2014 11:12:59 AM PST by Da Coyote
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To: Red in Blue PA

racisimists will see this as racist.

people based in reality will see the multitude or valid reasons for this.


27 posted on 01/27/2014 11:17:18 AM PST by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: dsrtsage

The mortgage Co’s didn’t need to axe the race. The just turned on their Ghetto Name decoder.


28 posted on 01/27/2014 11:19:09 AM PST by Autonomous User (Pain Fades. Chicks Dig Scars. Glory, lasts forever.)
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To: rightwingintelligentsia

guess we’re not confiscating enough from white workers to give to blacks to pimp their rides, do their nails, buy the bling bling, get expensive hoodies and sneakers, AS WELL AS cover a mortgage.


29 posted on 01/27/2014 11:19:26 AM PST by Secret Agent Man (Gone Galt; Not averse to Going Bronson.)
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To: rightwingintelligentsia
What is the ratio when you compare blacks and whites with similar income and credit scores?

30 posted on 01/27/2014 11:19:32 AM PST by BitWielder1 (Corporate Profits are better than Government Waste)
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To: taillightchaser
"I thought your black messiah was supposed to fix that for all you folk."

The 'do nothing' Conservatives in congress (just like George Wallace) stood in the way of all efforts by president Obama to right this wrong.
(See, I could be a Liberal writer)

31 posted on 01/27/2014 11:20:16 AM PST by blam
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To: BitWielder1

You’re demanding data analysis leading to logical conclusions.
Obviously no future for you in media or govt, LOL.


32 posted on 01/27/2014 11:20:55 AM PST by nascarnation (I'm hiring Jack Palladino to investigate Baraq's golf scores.)
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To: miliantnutcase

CNN is just paving the way for Obama to beat-up the banks for not lending to them again.


33 posted on 01/27/2014 11:21:14 AM PST by Buckeye McFrog
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To: rightwingintelligentsia

In Great Leader’s 3rd term, he will give away houses to the oppressed.


34 posted on 01/27/2014 11:22:57 AM PST by AD from SpringBay (http://jonah2eight.blogspot.com/)
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To: rightwingintelligentsia
So rather than playing the race card, one would think someone would do some analsysis?

Was the higher denial rate the result of more single income families applying like single mom families?

Was the higher denial rate corrected for credit scores?

Was the higher denial rate corrected for minimal to zero down payment?

Was the higher denial rate corrected for or due to the area where the home was being purchased? (i.e. who would want to make a loan in Detroit or certain other dying cities?)

Inquiring minds want to know. There is probably a lot more than race to the denials, but then, the Urban League only cares about race.

35 posted on 01/27/2014 11:25:31 AM PST by Robert357 (D.Rather "Hoist with his own petard!" www.freerepublic.com/focus/f-news/1223916/posts)
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To: rightwingintelligentsia

That is because so few blacks live in intact families.


36 posted on 01/27/2014 11:25:56 AM PST by RobbyS (quotes)
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To: nascarnation
Obviously no future for you in media or govt, LOL.

You have no idea how relieved I am.

37 posted on 01/27/2014 11:27:07 AM PST by BitWielder1 (Corporate Profits are better than Government Waste)
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To: socal_parrot
Too bad the name "Community Reinvestment Act" is already taken.

We'll call it the "Community re-reinvestment Act", or "ObamaLoans" for short.

38 posted on 01/27/2014 11:31:04 AM PST by Cementjungle
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To: rightwingintelligentsia

Hey!

If Obama voters can’t afford to pay the monthly mortgage on a house why doesn’t congress just force the banks to loan them the money anyway?

That will solve the problem!

/s


39 posted on 01/27/2014 11:32:58 AM PST by Iron Munro ("Sooner or later everyone sits down to a banquet of consequences." - Robert Louis Stevenson)
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To: dsrtsage

Believe it used to be called something like red lining - where credit was denied if you lived in a certain ZIP code and it also extended to auto loans. Also remember when I was in the personnel dept with a large corp years ago that someone in the government came up with the brilliant idea that people should not be required to include their last name, address or ZIP code on their application because that could be discriminatory.

It’s just all bizarre.


40 posted on 01/27/2014 11:34:29 AM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: Autonomous User
The mortgage Co’s didn’t need to axe the race. The just turned on their Ghetto Name decoder.

"Don't sterotype me!" said Vulv'a'litous.


41 posted on 01/27/2014 11:37:42 AM PST by Iron Munro ("Sooner or later everyone sits down to a banquet of consequences." - Robert Louis Stevenson)
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To: rightwingintelligentsia

I don’t have problems getting loans.
I just show them my white privilege card.


42 posted on 01/27/2014 11:41:56 AM PST by Rightwing Conspiratr1
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To: BitWielder1

You’re asking to compare black and white who have similar credit scores, income, etc.???

I don’t think we’re supposed to ask such questions. It interrupts the racist narrative (sarcasm)


43 posted on 01/27/2014 11:43:23 AM PST by Dilbert San Diego
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To: Rightwing Conspiratr1

White Like Me

http://screen.yahoo.com/white-000000112.html


44 posted on 01/27/2014 11:44:01 AM PST by dfwgator
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To: rightwingintelligentsia

Dat’s WAYcist!

Dat be un FAAAAAIIIIIiiiiiirrrrr ...

GIBSMEDAT!!!!


45 posted on 01/27/2014 11:44:47 AM PST by NorthMountain
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To: dsrtsage

You strike upon a good point here. Do mortgage applications even ask about the race of the applicant. It would be interesting to take samplings of the applications, both those that have been accepted, and those that haven’t, and see if race could have been a factor. I’m betting it couldn’t.

The way to eliminate any hint of racism isn’t more Affirmative Action, but making sure the applications are colorblind. If that doesn’t solve the problem, the problem is bigger than racial discrimination at the loan level. We need to be looking at what can make more black people better candidates for loan acceptance.


46 posted on 01/27/2014 12:01:33 PM PST by pallis
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To: rightwingintelligentsia

This the opening salvo of another housing bubble pushed by the Feds. By all means let over finance people who can’t pay into gaudy badly built houses as a form of affirmative action

Damn these people


47 posted on 01/27/2014 12:10:21 PM PST by Jimmy Valentine (DemocRATS - when they speak, they lie; when they are silent, they are stealing the American Dream)
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To: pallis

Your idea would work, if the problem they wanted addressed was the one they actually stated. But that’s not the way leftists do things.

They don’t want the SAME criteria applied to everyone - they want MORE FAVORABLE criteria applied to non-white people.

They preach “equal” treatment, but what they really want is far from that.


48 posted on 01/27/2014 12:12:41 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Buckeye McFrog

Leftist Lexicon Lesson:

not approving loan=’redlining’
approving loan= ‘predatory lending’


49 posted on 01/27/2014 12:28:07 PM PST by TurboZamboni (Marx smelled bad and lived with his parents .)
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To: pallis

If it were only done that way.

What ever happened to just ‘being a number’ to the gubmint?

Now we’re all just a victim group to be bribed by a faction of gubmint.

Why not do home loans and collegel admittance applications based on sosh security numbers only? they ask for it any way
on every document imaginable.


50 posted on 01/27/2014 12:30:56 PM PST by TurboZamboni (Marx smelled bad and lived with his parents .)
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