[bergenty]

Well it’s not, Bank of America says it’s available to first time buyers of all races so your insinuation is actually racist.

On a side note, I can’t imagine a better reason for a government bailout— if it results in tens of thousands of first time buyers owning a home, many of whom would continue to do so regardless of the bailout.

[logicalmonster]

> Well it’s not, Bank of America says it’s available to first time buyers of all races

That's what I was asking for above. Both the media reporting about this and even their own press release makes this story a bit ambiguous.

> so your insinuation is actually racist.

Normally I'd smirk in being called racist for advocating treating all races equally, but I'd like to simply state that the media reporting on what this program actually is has been extremely confusing. That's why I asked what this program was for up above and pointed out that a program that treated different races differently would be racist.

> On a side note, I can’t imagine a better reason for a government bailout— if it results in tens of thousands of first time buyers owning a home, many of whom would continue to do so regardless of the bailout.

I view this as penny-wise and pound-foolish thinking. The resulting economic fallout of getting people in homes that they can't afford in a downturn and the resulting bailouts that would happen is much worse for most poor people in the long-run.

[Rebelgecko]

The less charitable assumption is that it's a way to help gentrify these communities by making it easier for people to buy in what are now cheaper neighborhoods. Raising home prices means more money for banks on future mortgages.