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How Home Ownership Keeps Blacks Poorer Than Whites

 
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newdiva1 View Drop Down
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    Posted: Apr 03 2014 at 1:13pm
*sighs*  It's been a while since I've had to do this but...*pulls foil hat from the vault.  points antennae. receives information* I lowkey think this is one more thing to discourage black folks from buying or trying to buy so "they" can continue to come thru and buy up homes/property in black neighborhoods without it being made a media type big deal.  
No...the information coming thru my cone is telling me that coloured folks that want to own a home need to continue to work toward that...and to purchase in a black neighborhood. 
I'm sure homes in black neighborhoods didn't have a high return back in the day either yet it was still something that people worked toward.
 
*wraps hat with black velvet.  returns to vault*
 
I know in my neighborhood right now various banks and universities are trying hard to buy people out.  Friend of mine tole me her aunt got offered over $300g's for a house that she payed about $75,000 for in the 80's.  every other month or so they come back tryna convince her to sell.  she had to cuss them out last time they came.  She basically said "she old, where she gonna go if she sells her house?"  They ain't have an answer.
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trudawg View Drop Down
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Disheartening
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SamoneLenior View Drop Down
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lol

I think we will go with a high rated daycare/ learning center (we can afford) tbh

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sang Froid Quote  Post ReplyReply Direct Link To This Post Posted: Apr 03 2014 at 11:26am
Grandma's house >>>>>
If you're an idiot your kids is probably going to be idiots too.

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Originally posted by ThatGurlD ThatGurlD wrote:

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.



Haha I'm not sure the barbershop thing is a good example.
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SamoneLenior View Drop Down
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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 11:04am
Originally posted by Ds2nice Ds2nice wrote:

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.


that would be interesting
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Ds2nice View Drop Down
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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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Ds2nice View Drop Down
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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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SamoneLenior View Drop Down
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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 (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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