Against Black Homeownership

[ogc163]

Right but get this, what does a 20 or 30 something know about what they want out of life.

Commitment can seem like prison, but losing on out asset has long term consequences.

Especially since, those of us who are more affluent, are not doing it collectively in large enough numbers to support a strong middle class community.

Many Working-class white millennials have quickly changed their internal and cultural narratives in regards to obtaining the markers of the upper-middle class, and so it's possible. I want to be clear that I'm not making a value judgment on whether that shift is good or bad because there is a thin line between "realism" and "nihilism" among those who have changed their narrative.

There are other options instead of buying a house, and the returns on investments in homes are generally not great for Black people. That has to do with when and where Black people buy homes, differences in interest rates charged, and proximity to great schools among other things.

 

[88m3]

I think the tax benefits are waining of owning a single family home anywhere that you live in but if you can find ways to put the equity to work in the longterm it should pay off no matter what

that said the markets a lot of places are already overvalued so you either need to find the future hot neighborhood, wait for a correction, or spend a lot of money while potentially overpaying...


you'll never have equity renting and unless you live in a really screwed up housing market or a cataclysm occurs you shouldn't end up upside down



I think multi family or some of mixed commercial property is your best bet but with covid at the moment that is even difficult

 

[ogc163]

If you are Black and want to compete with the upper-middle class in housing this is what you are going up against:





Reeves in an interview said that regarding education middle-class parents look at their children as warriors going into battle and if you want to compete against that go right ahead. But understand their bread is longer, their networks are more dynamic, and they are hell bent on maintaining their position within the hierarchy. Competing with the upper-middle class in regards to housing and education can quickly become a zero-sum game, I try my best to avoid zero-sum games.

 

[ogc163]

Colson Whitehead, Jericho Brown, and Anne Boyer just won Pulitzer Prizes.

Taylor was a finalist for a Pulitzer this year

 

[Geek Nasty]

Hate to say, but we need to take relationships and families more seriously. Discrimination and wage gaps aside, regarding those black millennials that do make 100k+ are they really in a position to settle down and plant roots. Or they just playing the field.

Homeownership is a big commitment.

I know its cool to shyt on nuclear families, but it's the cheat code for advancement. 2 working parents only have to maintain one household and can even get by with one car. If times get tight, one or the other can pull the weight. It's also one of the elements that helped uplift the US. We were puritan and more strict about keeping families together and making men marry women they knocked up.

Single parent households introduce all kinds of problems in general.

 

[Serious]

I know its cool to shyt on nuclear families, but it's the cheat code for advancement. 2 working parents only have to maintain one household and can even get by with one car. If times get tight, one or the other can pull the weight. It's also one of the elements that helped uplift the US. We were puritan and more strict about keeping families together and making men marry women they knocked up.

Single parent households introduce all kinds of problems in general.

That's what I'm saying, yet TLR looks at me sideways because I'm not trying smash every attractive woman that comes my way. I'm trying build wealth and not just for myself, because I don't need to get married or purchase a house for that. But I want a strong black community in the future. The key is through marriage and raising a family.

 

[MoneyTron]

Unfortunately, I believe the pandemic will end up making improvement of this situation even less tenable for black people.

If unemployment is around 25% of the nation as a whole, I have no doubt we’re hit even harder. Inevitably people who are still highly liquid later this year when housing will probably take a dive, are poised to capitalize just like they did post-2008.

 

[Ya' Cousin Cleon]

most dudes in TLR don't have that kinship/connection with the black community like they claim they do

they don't give a damn about black people , let alone our future as a people, just utilize wedge issues to demean others

That's what I'm saying, yet TLR looks at me sideways because I'm not trying smash every attractive woman that comes my way. I'm trying build wealth and not just for myself, because I don't need to get married or purchase a house for that. But I want a strong black community in the future. The key is through marriage and raising a family.

 

[Geek Nasty]

most dudes in TLR don't have that kinship/connection with the black community like they claim they do

they don't give a damn about black people , let alone our future as a people, just utilize wedge issues to demean others

<Looks at red rep>

 

[Geek Nasty]

Unfortunately, I believe the pandemic will end up making improvement of this situation even less tenable for black people.

If unemployment is around 25% of the nation as a whole, I have no doubt we’re hit even harder. Inevitably people who are still highly liquid later this year when housing will probably take a dive, are poised to capitalize just like they did post-2008.

I was hoping this wouldn't turn into a "too big to fail" bailout, but that's the route it went. Only difference this time is they saw how bad the optics were with historic unemployment and had to throw some more peanuts at broke people.

 

[Serious]

If you are Black and want to compete with the upper-middle class in housing this is what you are going up against:





Reeves in an interview said that regarding education middle-class parents look at their children as warriors going into battle and if you want to compete against that go right ahead. But understand their bread is longer, their networks are more dynamic, and they are hell bent on maintaining their position within the hierarchy. Competing with the upper-middle class in regards to housing and education can quickly become a zero-sum game, I try my best to avoid zero-sum games.

This is basically what my end goal is do within public health. It's to address health disparities and health inequity.

 

[88m3]

@ogc163

You're a smart guy so your answer to displacement and gentrification is???

 

[ogc163]

@ogc163

You're a smart guy so your answer to displacement and gentrification is???

Some policies that could be put in place are:

• stronger protections for Section 8 tenants
• relaxing of zoning laws to potentially increase supply for low and middle-income renters
• A shift in how money for public schools is allocated so that people in cities don't have to:
  • Move to suburban neighborhoods where schools are good.
  • Spend money on private schools
  • Be subject to a lottery system to get their child into a decent school.

But in general, I don't think Black homeownership can or even should serve as a main tool in fighting Gentrification. And when you take into consideration geographic differences (LA, Bay Area, NYC/NJ vs. The rest of America) I'm not sure gentrification even impacts the Black community in similar ways throughout the country.