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Why AFFH is so important   The Serious You: Politics

Started Jul-5 by MerlinsDad; 30 views.

From: MerlinsDad


This is an informative article which shows why the 2015 Affirmatively Furthering Fair Housing rule is so important, although the implications go beyond just fair housing.  These charts show how economic progress has stalled for Black Americans since the Civil Rights era.

There are some positives in these charts, at least until the Covid_19 pandemic struck. 

The typical Black household has less than one-tenth the wealth of the typical White family -- almost the exact same ratio as existed in the 1960s, according to an analysis by Moritz Kuhn, an economics professor at the University of Bonn in Germany.

Lower home ownership rates among Black Americans, as well as smaller incomes and inheritances, account for much of the difference.
The wealth chasm narrowed somewhat in the intervening years, until the financial crisis just over a decade ago. More Blacks became homeowners, but factors such as continued residential segregation meant that the value of their housing -- and their net worth -- did not grow as much as it did for White homeowners, said Edward Wolff, an economics professor at New York University. Also, Black families tended to have higher levels of mortgage debt.  The mortgage crisis that triggered that economic collapse reversed those gains