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How Home Ownership Keeps Blacks Poorer Than Whites

 
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ModelessDiva View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ModelessDiva Quote  Post ReplyReply Direct Link To This Post Posted: Apr 02 2014 at 10:56pm
interesting article... thanks samone
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Nijjah25 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Nijjah25 Quote  Post ReplyReply Direct Link To This Post Posted: Apr 02 2014 at 11:02pm
is this another "blacks ain't s hit" by white statistics again?
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Sang Froid Quote  Post ReplyReply Direct Link To This Post Posted: Apr 02 2014 at 11:08pm
Originally posted by foxyroy19 foxyroy19 wrote:

Cleveland....
 
 
 
Where they expect people to get money to fix this up and why would I want to move somewhere that looks like that or has the potential to look like this because collectively we can't afford to maintain?  I know I may be off topic.
 
Cleveland middle class....
 
 
 
 
Disclaimer: I don't live in Ohio.

This just reminded me of something I want to do when I make my financial goals.
I'd like to be able to donate money to [black] families to do renovations on their homes.
Especially those in low income areas. 
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Post Options Post Options   Thanks (3) Thanks(3)   Quote ThatGurlD Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 1:13am
Blame it on Barack!  No wait, blacks should live around whites!  No wait, the point of the article is blacks should invest in the stock market!  No...nooo....it's Obama's fault.  Whew!  Rough read.  

You know, I'm proud that our president is not a hypocrite.  All that talk about the 1% and Occupy Wall Street, and I'da been mad as hell to find out the knee grow got 25% of his income from them.

I wonder if whites would have any faith in Wall Street if it was more knee grows?  Hell no they wouldn't.  They would run just like they run from our neighborhoods.  

The fact of the matter is blacks are hated.  We don't get support for our businesses and oftentimes we don't even support them.  Not always by choice either.  My husband owns a business.  He's a barber.  The only people come to his shop are Brothas and white boys who wanna be Brothas.  The average white boy will take his sloppy ass over to super cuts and get a whack $12 hair cut.  He don't care about his line up, he care about his investments.  Let me tell it there lies the problem.

Black women will talk about another woman's hair so quick; the men ain't no better.  They'll talk about the next dudes fade faster than the women.  So Keisha is trying to get the best weave so Ronda won't have sh*t to say and Marcus will wait 2 hrs for Craig because he does the freshest taper.  Meanwhile, Becky is combing over the bank accounts and Robert is raking in the cheddar to add to the inheritance that makes for a comfortable cushion.  

When Keisha stops giving a about Ronda and Marcus realizes  nothing depreciates faster than a damn haircut, maybe we'll be onto something.  But until then, we will stay on the hedonic treadmill and blame it on Barack I guess.

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Post Options Post Options   Thanks (2) Thanks(2)   Quote Alias_Avi Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 1:23am
"poorer than Whites" is a pretty stupid statement
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SamoneLenior Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 5:16am
Originally posted by Nijjah25 Nijjah25 wrote:

is this another "blacks ain't s hit" by white statistics again?


I didn't get that

but it is a depressing article. I didn't check the stats but if all true it just shows how the cards are stacked against us

I agree the article title sucks though

but hey it's another starting point in an ongoing discussion about black wealth

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Post Options Post Options   Thanks (2) Thanks(2)   Quote SeducTress Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 8:58am
Interestingly enough I know a self made black millionaire that is currently working on an organization to teach black kids about investing/wall street.

He's an engineer, he devised a pretty reliable algorithm apparently.

He already got his come up so to speak.
Now he's working on sharing the wealth, quite literally.

His plans will absolutely come to fruition. I've witnessed his genius. The moment this program hits the ground I'll make a thread. 
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Post Options Post Options   Thanks (1) Thanks(1)   Quote SamoneLenior Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 9:15am
Originally posted by melikey melikey wrote:

I just think it's best to have a mix of investments.
After 30 years have passed you own a home, so what your home is worth less than homes in white neighborhoods, but by living more cheaply all along in a lower priced area you are able to invest more in stocks and offset the difference.

Funny how the author didn't compare net worth of black families across those categories: renters vs. Homeowners in black neighborhoods vs. Homeowners in white neighborhoods.


the author didn't conduct the study
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ds2nice Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 10:44am
Well if this article is true, blacks are losing out on large capital gains when selling their homes compared to white counterparts.
 
I believe this part because I've heard a few times about the middle class black communities (in low crime areas). That these homes don't really appreciate in value because of the community. 


Edited by Ds2nice - Apr 03 2014 at 11:03am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ds2nice Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 11:03am
Originally posted by melikey melikey wrote:

I just think it's best to have a mix of investments.
After 30 years have passed you own a home, so what your home is worth less than homes in white neighborhoods, but by living more cheaply all along in a lower priced area you are able to invest more in stocks and offset the difference.

Funny how the author didn't compare net worth of black families across those categories: renters vs. Homeowners in black neighborhoods vs. Homeowners in white neighborhoods.
 
I agree with this too.  I have a lot of yht co-workers that are barely making ends meet.  Barely making it with their paychecks and don't have enough in their savings for "just in case sh!t happens".  However there are other contributing factors such as lifestyle differences, which are not addressed in this article.  
 
I know a lot of yht co-workers that are far in debt because of childcare expenses and not just because of home ownership.  A lot of them send their children to daycare centers that charge over $3600 a month for 2 kids.   Dont' get me wrong, I see a big difference in these kids' developments compared to those that just sit at their grandmothers house during the day.  I even thought about doing daycare centers if I ever decide to have a child.  However, there's no way I'm spending $3600 a month.....Just won't do it.  
 
They should address the lifestyle differences in these type of articles and find out which community would more likely have enough money in their accounts to pay their bills for a year if they were to be laid off.
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