White privilege: Asset devaluation in black neighborhoods

Discussion in 'Race Relations/Racism' started by IM2, Nov 28, 2018.

  1. IM2
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    IM2 Gold Member

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    The devaluation of assets in black neighborhoods
    The case of residential property
    Tuesday, November 27, 2018

    Authors

    Andre M. Perry
    David M. Rubenstein Fellow - Metropolitan Policy Program

    Jonathan Rothwell
    Former Brookings Expert, Senior Economist - Gallup

    David Harshbarger
    Research Assistant - Metropolitan Policy Program at Brookings

    Homeownership lies at the heart of the American Dream, representing success, opportunity, and wealth. However, for many of its citizens, America deferred that dream. For much of the 20th century, the devaluing of black lives led to segregation and racist federal housing policy through redlining that shut out chances for black people to purchase homes and build wealth, making it more difficult to start and invest in businesses and afford college tuition. Still, homeownership remains a beacon of hope for all people to gain access to the middle class. Though homeownership rates vary considerably between whites and people of color, it’s typically the largest asset among all people who hold it.

    If we can detect how much racism depletes wealth from black homeowners, we can begin to address bigotry principally by giving black homeowners and policymakers a target price for redress. Laws have changed, but the value of assets—buildings, schools, leadership, and land itself—are inextricably linked to the perceptions of black people. And those negative perceptions persist.

    Through the prism of the real estate market and homeownership in black neighborhoods, this report attempts to address the question: What is the cost of racial bias? This report seeks to understand how much money majority-black communities are losing in the housing market stemming from racial bias, finding that owner-occupied homes in black neighborhoods are undervalued by $48,000 per home on average, amounting to $156 billion in cumulative losses.

    The devaluation of assets in black neighborhoods
     
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  2. Oddball
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    Oddball Unobtanium Member Supporting Member

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    Tremendous buying opportunities for blacks.
     
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  3. IM2
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    IM2 Gold Member

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    Tremendous ability to deny a problem by this white person.
     
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  4. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    This report seeks to understand how much money majority-black communities are losing in the housing market stemming from racial bias,

    And how much stems from higher crime rates...…...
     
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  5. Meathead
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    Meathead Gold Member

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    White Privilege therefore Black Failure. The former would not need to exist without the latter.
     
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  6. Oddball
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    Oddball Unobtanium Member Supporting Member

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    It's only a problem if you frame it as such.

    Even though I gave you a positive way to look at it, you'd rather stay suck in your hand-wringing victimhood.

    Grow the fuck up.
     
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  7. IM2
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    IM2 Gold Member

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    Higher crime in white communities kills this meme.
     
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  8. IM2
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    IM2 Gold Member

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    White racism is white failure. You are an example of it.
     
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  9. Sunni Man
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    Sunni Man Diamond Member

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    You can try blaming it on racism.

    But the reality is that high crime rates, rampant drug use, riots and looting, has much to do with property devaluation in ares where black people live. .... :cool:
     
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  10. Toddsterpatriot
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    Toddsterpatriot Diamond Member

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    Which white communities have higher crime rates?
     
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