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re: The Atlantic publishes article claiming white folks stole 6.6 billion dollars of land
Posted on 8/12/19 at 3:20 pm to Big Scrub TX
Posted on 8/12/19 at 3:20 pm to Big Scrub TX
quote:
Even if the higher end of the range is true, it's pennies compared to the stolen residential real estate.
When and where was residential real estate stolen? The government is not REQUIRED to loan you money. You can argue that there were predatory and unfair lending practices, but calling that theft of the land is a bit much.
Posted on 8/12/19 at 3:22 pm to The Pirate King
Plenty of non-minorities have been screwed over by predatory lending as well. Not that anyone GAF.
Posted on 8/12/19 at 3:29 pm to The Pirate King
quote:If the government is either lending money directly or insuring non-direct loans and then excludes an entire part of the population based purely on race, then I don't have to explain to you that that is unconstitutional.
When and where was residential real estate stolen? The government is not REQUIRED to loan you money.
It had the effect of: a)locking most American blacks out of the housing market in the mid-century...arguably the single most important appreciating asset which basically built the middle class in this country and b)causing a shortage of suitable rental housing for blacks who were denied purchasing, thus sky-rocketing the price for rentals and insuring slumlord-like conditions.
All aspects of the American "system" were in play here - private citizens on the ground, the FHA, the judges, the banks, etc.
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