Racism is The Reason Rich Blacks in Prince George's County are locked out of wealth (Baltimore: buyers, schools)

[Turnerbro]

Originally Posted by skeddy

stupid people make stupid financial decisions.

Some people simply aren't well informed.

[Turnerbro]

Originally Posted by skeddy

public schools in PG County make it a no-go for people with families. They're abysmal.

This is the main reason housing is cheap. Many people will have to factor in paying for private schools.

[adelphi_sky]

Even with good schools there are barriers.

“When you look at how housing prices have changed over time in black areas as compared to white areas, there’s an inequity that’s really inexplicable,” McCargo said.

McCargo said even affluent black-majority areas can have a hard time getting businesses, good stores and restaurants, a complaint echoed by Burke and other Olympia Fields residents. A civil rights lawsuit was filed in 2016 against Oakland County, Michigan, home of Lathrup Village, charging that majority-black communities in the county had suffered lower property values because of inadequate economic development.

Sterling Burke, a retired IBM engineer who is president of Olympia Fields, blames lingering racism among home buyers for the stagnant prices in his community.

“There’s a pool of people who want to buy a house, and that’s what determines its value. You subtract those who don’t want to live with black people and the pool is smaller, so that keeps prices down.”

Where Black Homeownership Is the Norm | The Pew Charitable Trusts

[G1..]

Originally Posted by skeddy

stupid people make stupid financial decisions.

.................and sometimes "smart people" are lied to and that leads to bad not stupid financial decisions.

[InchingWest]

Originally Posted by Jasminehicks2020

Even though woodmore has 33% of blacks that make over 250,000 a year ,home values are just on average, 400,000 ...proves blacks lower home values, despite class, shows racism is baked in the system, and proves blacks can not live in black communities and build wealth, whites buy homes to build wealth, blacks buy homes to live with blacks of similar backgrounds because racism of government policies created this even if laws change

Housing markets are a function of the number of people who are willing to live in that area.

I bolded part of your quote. Indeed this is true. The question is: why? You should look internally rather than externally for the answer. Blacks should be asking the question "why do people desire to avoid our communities" rather than put the blame on other people for doing so. Indeed I would think there are plenty of black people who would not even want to live in black communities.

I'm sure a lot of Whites would love to take advantage of some of the cheap housing in Baltimore, but for all intents and purposes are completely prevented from living there, effectively "chased out" if you will. Is that not "racist"? This actually forces Whites to have to pay higher housing costs just to attain what most people would consider a reasonable quality of life. How many neighborhoods are effectively "redlined" toward Whites? It may not be in a legal sense, but in a QOL and personal safety sense there are plenty of these areas and in every city in the country.

In many respects it would be unsafe for a White person or family to move to some of those 100% black areas, but the reverse is never true, in fact most non-Whites would love to move into White neighborhoods in order to take advantage of the quality of life in that vicinity. And if people desire to live in those areas that means there is more demand for the supply; that translates into higher prices. This is just the reality of the situation.

“There’s a pool of people who want to buy a house, and that’s what determines its value. You subtract those who don’t want to live with black people and the pool is smaller, so that keeps prices down.”

Whatever article this came from is exactly right. In Maryland, which is 29% black you effectively are cutting out 70% of potential home buyers. From there it can only go down because you are cutting out anyone who can't/won't purchase a 400k home, cutting out anyone who wants more acerage/less density, etc.

Meanwhile you have pull in the opposite direction: if you have a black family with 400k to spend on that house, would they move into a black neighborhood or are half of them more apt to move into a White neighborhood instead?

There are similar forces at work in many other areas too: Lets say for example that a black kid gets into UMD or Towson, why the heck would he go to Bowie, Morgan or Chopin even if he's been accepted to all of those schools? What would the draw be? What would the advantage be?

[Turnerbro]

Originally Posted by InchingWest

Housing markets are a function of the number of people who are willing to live in that area.

I bolded part of your quote. Indeed this is true. The question is: why? You should look internally rather than externally for the answer. Blacks should be asking the question "why do people desire to avoid our communities" rather than put the blame on other people for doing so. Indeed I would think there are plenty of black people who would not even want to live in black communities.

I'm sure a lot of Whites would love to take advantage of some of the cheap housing in Baltimore, but for all intents and purposes are completely prevented from living there, effectively "chased out" if you will. Is that not "racist"? This actually forces Whites to have to pay higher housing costs just to attain what most people would consider a reasonable quality of life. How many neighborhoods are effectively "redlined" toward Whites? It may not be in a legal sense, but in a QOL and personal safety sense there are plenty of these areas and in every city in the country.

In many respects it would be unsafe for a White person or family to move to some of those 100% black areas, but the reverse is never true, in fact most non-Whites would love to move into White neighborhoods in order to take advantage of the quality of life in that vicinity. And if people desire to live in those areas that means there is more demand for the supply; that translates into higher prices. This is just the reality of the situation.


Whatever article this came from is exactly right. In Maryland, which is 29% black you effectively are cutting out 70% of potential home buyers. From there it can only go down because you are cutting out anyone who can't/won't purchase a 400k home, cutting out anyone who wants more acerage/less density, etc.

Meanwhile you have pull in the opposite direction: if you have a black family with 400k to spend on that house, would they move into a black neighborhood or are half of them more apt to move into a White neighborhood instead?

There are similar forces at work in many other areas too: Lets say for example that a black kid gets into UMD or Towson, why the heck would he go to Bowie, Morgan or Chopin even if he's been accepted to all of those schools? What would the draw be? What would the advantage be?

Most lower middle class white in the Baltimore area can live in northern AAC or somewhere like White Marsh or Catonsville. In the DMV it's harder though.

[skeddy]

Originally Posted by G1..

.................and sometimes "smart people" are lied to and that leads to bad not stupid financial decisions.

give some examples please

[G1..]

Originally Posted by skeddy

give some examples please

Bernie Madoff

[Quick Enough]

Originally Posted by Jasminehicks2020

Even though woodmore has 33% of blacks that make over 250,000 a year ,home values are just on average, 400,000 ...proves blacks lower home values, despite class, shows racism is baked in the system, and proves blacks can not live in black communities and build wealth, whites buy homes to build wealth, blacks buy homes to live with blacks of similar backgrounds because racism of government policies created this even if laws change

This cannot be blamed on bad schools because there are plenty of rich white communities surrounded by bad school districts, but that doesn't effect home values,

This cannot be blamed on crime because wood more doesn't have a lot of crime, Buckhead Atlanta has even more crime, but their home values are fine

As racist as this post is, I am surprised the mods haven't killed it yet.

The housing market is based on demand and availability.

Go to the Annapolis area and you will find small old houses for over a million dollars. Why? because people are WILLING to pay outrageous prices for WATERFRONT near Annapolis and there are NOT that many available.

There are FEWER blacks who can afford high priced homes therefore the DEMAND is lower with brings the prices down.

Supply and DEMAND!

You guys FOUGHT to get rid of segregation in house in. NOW you HAVE it and STILL not satisfied..

[DonaldJTrump]

Why complaints about lower housing costs? You get the high paying DC govt salary along with low housing costs and lower expenses.
Meanwhile these white people have to pay 2-3 x more if they want to buy a house in white area.
you just mad you didn't buy the right location at the right time.