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Any kind of handout that requires a person to be fiscally wise and responsible, is doomed to fail because of the culture of poverty. People never want to address the fact that poor people often smoke, have dogs, have kids they can't feed, and **** away any money they do make.
Why do you think so many who start out poor and make or win millions, die with nothing?
She apparently has no knowledge of the history of our economy. What is she bringing to the table as a candidate?
Nowhere close to the Community Reinvestment Act or the states income, no documentation loans that dominated the early to mid 2000's lending
no docs started in the 90's
this is exactly what Clinton (through his chiefs of HUD; Henry Cisneros and Andrew Cuomo) did starting the housing bubble that started in 95 and busted in 07
What if they have bad credit? What if they just s*ck at personal finances?
In the 1970's, a church group imported a black family into Concord, MA. The group paid the down payment on the house. The black family just had to keep up with the monthly payments. A few years in, the family had to leave the house due to missed mortgage payments. I also believe that they weren't happy living in white majority suburb and missed their friends and culture.
In the Boston area, real estate is extremely expensive. So even with this proposed program, I don't think that black home ownership would be much increased.
How typical of this group of Democratic presidential candidates, that she would try to buy black votes with this program. These Democrats keep trying to buy votes by offering government freebies.
And as a homeowner, I can tell you that owning a home (or condo) takes a lot of continued effort and work that most people don't want to deal with. Mortgage payments, property taxes, home repairs and maintenances.... things that people who have been lifelong renters, Section 8 or housing project residents don't want to or don't know how to deal with.
It will be the whole subprime mortgage crisis all over. Plus add to that unscrupulous people selling substandard quality houses to these black buyers trying to find housing within their budget range.
You must have not been around in 2008 when millions of WHITE people were defaulting on home and car loans. I worked for a company that did repossessions, and we had so many cars and boats that we had nowhere to park them all. Entire city blocks had boarded up homes because people were being evicted, again mostly white, average people.
So, for you to paint blacks as unable to maintain their credit is blatantly racist.
What if they have bad credit? What if they just s*ck at personal finances?
In the 1970's, a church group imported a black family into Concord, MA. The group paid the down payment on the house. The black family just had to keep up with the monthly payments. A few years in, the family had to leave the house due to missed mortgage payments. I also believe that they weren't happy living in white majority suburb and missed their friends and culture.
In the Boston area, real estate is extremely expensive. So even with this proposed program, I don't think that black home ownership would be much increased.
How typical of this group of Democratic presidential candidates, that she would try to buy black votes with this program. These Democrats keep trying to buy votes by offering government freebies.
And as a homeowner, I can tell you that owning a home (or condo) takes a lot of continued effort and work that most people don't want to deal with. Mortgage payments, property taxes, home repairs and maintenances.... things that people who have been lifelong renters, Section 8 or housing project residents don't want to or don't know how to deal with.
It will be the whole subprime mortgage crisis all over. Plus add to that unscrupulous people selling substandard quality houses to these black buyers trying to find housing within their budget range.
Exactly why it won't work. Only 1/4 of blacks have prime credit. The median income for black households is under $40k. Most of the homes that could be reasonably be bought with a profile of the median black family would be low priced homes in ironically segregated areas.
You must have not been around in 2008 when millions of WHITE people were defaulting on home and car loans. I worked for a company that did repossessions, and we had so many cars and boats that we had nowhere to park them all. Entire city blocks had boarded up homes because people were being evicted, again mostly white, average people.
So, for you to paint blacks as unable to maintain their credit is blatantly racist.
It is well known blacks have a worse credit profile than other groups. You'd know that if you work where you said you work.
You must have not been around in 2008 when millions of WHITE people were defaulting on home and car loans. I worked for a company that did repossessions, and we had so many cars and boats that we had nowhere to park them all. Entire city blocks had boarded up homes because people were being evicted, again mostly white, average people.
So, for you to paint blacks as unable to maintain their credit is blatantly racist.
Reality is racist. Nationally, default rates were much higher among blacks than others. They were also high among Hispanics, especially in California. The government push for minority home ownership, championed by W himself in the early 2000s, was an important contributing factor in the crisis. Have we learned nothing from that?
You must have not been around in 2008 when millions of WHITE people were defaulting on home and car loans. I worked for a company that did repossessions, and we had so many cars and boats that we had nowhere to park them all. Entire city blocks had boarded up homes because people were being evicted, again mostly white, average people.
So, for you to paint blacks as unable to maintain their credit is blatantly racist.
Actually, Kamala herself says that black families were disproportionally impacted by the subprime mortgage crisis.
I don't agree w/ her plan - but it's not a subprime loan.
Then her plan won't work. Most blacks have subprime credit, with subprime being defined as below 680. She knows this which is why she threw in the bit about including rent and utility payments into a credit score. Problem here though is many blacks have an issue paying rent and utility bills too.
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