How is that being priced out of the housing market?
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 ...
"Don't sterotype me!" said Vulv'a'litous.
I don’t have problems getting loans.
I just show them my white privilege card.
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)
Dat’s WAYcist!
Dat be un FAAAAAIIIIIiiiiiirrrrr ...
GIBSMEDAT!!!!
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.
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
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.
Leftist Lexicon Lesson:
not approving loan=’redlining’
approving loan= ‘predatory lending’
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.
Same as them demanding more and more of our income to “give” to people and demonizing us in the process.
It’s sort of hard to get a mortgage with EBTs.
I know a white lady who has stellar credit, a long-term very high paying job. Her house is under water and she's trying to refinance.
The banks won't give her the time of day.
-PJ
Not unless there are W2’s and paystubs.
How is that being priced out of the housing market?
That's because they're about two and a half times less likely to be qualified based on savings and FICO scores...
Some government action is definitely needed to correct this!
I lean toward the Schumer proposal that would allow blacks and illegal aliens to pay the first 75% of the mortgage loan at an affordable 160 year interest rate with the balance to be paid off by a government grant. There would of course be a down payment based on the (discriminated) racial group requesting the loan. This could easily be determined fairly by what the percentage of that group makes up the nationwide prison population.
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