You Won’t Believe How Leftists Depict Trump’s Housing Recovery
When did housing become racist?
Under Democrats, Silly.
Normal people discuss housing from a human issue, not a race-based issue. But America removed itself from “normal” decades ago. And because Americans check those ethnicity boxes, we now look at everything through the lens of oppression.
As Fox News reported, Trump is the culprit.
Yul Dorn and his wife raised their son and daughter in a three-bedroom home crammed with family photos, one they bought in a historically African-American neighborhood in San Francisco more than two decades ago.
Today, the couple is living in a motel after they were evicted last year, having lost a foreclosure battle. A second home they inherited is also in default.
The Dorns expect to join the growing ranks of African-Americans who do not own their homes, a rate that was nearly 30 percentage points higher than that of whites in 2016, according to a new report.
Before you go too far, ask yourself if black people are in any way prevented from buying homes? Of course not.
Blacks buy homes every day, sell homes every day, and lose homes every day. As for the latter category, there is a reason blacks lose more homes per capita than most. Liberalism.
As with all things leftist, Democrats made it “easy” to get a home. It’s never been easy to get a home, because owning a home is special. People work hard, save for the moment. Buying a home typically requires a “dream,” aka “Dream home,” and a plan to get there.
Leftists destroyed the dream.
They made things too easy for blacks, allowing “no down” and other predatory loans. The easier leftists made getting homes, the less meaningful the home was.
Further, far too many blacks have not learned good money-management. For a host of reasons, blacks aren’t always schooled in what it takes not to just get a home, but to stay in that home.
The article continues,
“The person who bought the house, we lost all of our memories,” said Dorn, a pastor and case manager with the city health department. “He put the furniture out on the street, and it was just devastating to my family.”
This man lost his home, and laments the outcome.
Where was his emergency fund, his contingency fund, etc?
The first rule of home ownership: it’s not yours until it’s paid off. You are a renter who can deduct the interest. And if you are a good steward of the property, you will get money out. If not, then you will watch somebody else move into your dream-turned-nightmare.
The no-down and other predatory loans allowed people with no preparation to get homes. No down, no equity. If you pay 10 percent down on a house, and it appreciates 5 percent in 5 years, you have 15 percent equity. Money sitting there for you. When that equity grows, your nest egg grows.
But if you put nothing down, and the home appreciates, does it really?
Most minorities who put nothing down did so because they were financially strapped to begin with. They barely got into homes they never should have bought. Next they find out that home ownership comes at a price. All maintenance and upkeep falls on the homeowner. And in case you haven’t visited minority neighborhoods, maintenance and upkeep lack substantially, thus the saying, “There goes the neighborhood!”
Homes in most black neighborhoods are dilapidated and rundown. The “black part of town” in most cities is a gang-infested, crime-ridden, no man’s land. Check out how Biden discusses going through the “black sections of my town.” I hope he got his shots and a visa!
And when Democrats like Biden aren’t being overtly racist, they cloak their racism in the form of “help.”
Bill Clinton fathered the Community Reinvestment Act, and Obama put it on steroids. Leftists made home ownership an entitlement, which it clearly isn’t.
And while the nation’s home ownership rate may have stabilized from the Era of Obama, the recovery for blacks falls far short of that for whites and others. A Harvard study reported the disparity between whites and blacks is at its highest in 70-plus years of data.
Experts suggest this disparity exists due to historic underemployment and low wages to a recession-related foreclosure crisis that hit black communities particularly hard. Perhaps.
In 2004, the pinnacle of U.S. home ownership, three-quarters of whites and nearly half of blacks owned homes, according to the Harvard study. However, by 2016, the rate for blacks sat at 42.2 percent and lagged 29.7 percentage points behind whites.
Thus, the pendulum has swung back, as stricter lending rules make it harder for first-time buyers. And the Left blames the “system.”
“It has always been historically and systemically harder for blacks, and we were seeing there a little bit of progress, and now we’re back at square one,” said Alanna McCargo, co-director of the Housing Finance Policy Center at the Urban Institute, a think-tank focused on inner-city issues that published a similar report .
Back at square one, huh?
The reason home ownership is systematically lower for blacks has nothing to do with color. It has to do with leftism, ergo a system of hopelessness that doesn’t allow blacks to gain meaningful employment and save money.
Blacks suffer from substandard schools, ergo substandard educations. Leftist policies that encourage single-parent homes and dependency on government have destroyed the nuclear family.
Leftists sold the “American Dream” as home ownership, knowing that most blacks were not prepared for such a big step.
Thus, due to easy loans, blacks bought houses at the peak of the bubble. They were enticed by the easy loans, with no explanation of what true home ownership involves. The loans weren’t risky, but the demographic getting the loans were.
Democrats made dreams too easy to come by. Further, they refuse to look at the root causes of problems in the black community.
Trump’s housing recovery will eventually help blacks the most. But as his predecessor was known to say, he “inherited this mess.” President Trump certainly did.