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by roywiggins
2557 days ago
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You can't blame the old black people, because they don't own homes. The rate of home ownership among whites is far and away greater than that for blacks. The average white person has some home equity. The average black person has next to none. The old people you're thinking about blaming are the old white people who took advantage of the whites-only, government sponsored, subsidized housing projects in the pre and post war years. The reason why all those old people in homes are white is because they were the only ones allowed to buy in the '50s! The median white family is worth $100k (almost entirely home equity). The average black family is worth $7,000. You don't think massive subsidies for white home ownership during the first half of the 20th century might have something.to do with it? Black people couldn't get mortgages. White people had theirs guaranteed by the Feds. It was a sweet deal. That equity didn't just evaporate. https://www.forbes.com/sites/laurashin/2015/03/26/the-racial... |
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Did you intend to jump between median and mean here? I'd guess that using median for both would make your case even stronger.