Somali-Americans Can Buy Homes Without Going To The Bank In Minneapolis Thanks To Collective Investm

[UberEatsDriver]

There are about 300,000 Nigerians in the US vs 45 mill Black Americans. Black Americans are definitely the wealthiest Black people in the US

So Black Americans are wealthier because they have more people?



Not following this logic. Technically speaking Black Americans are more wealthier than Nigerians in Nigeria. No argument there, but I’m pretty sure the average salary for a Nigerian in the US is higher than the Black American salary.

So a clarification needs to be made here.

 

[UberEatsDriver]

Mexicans been here longer and in much larger numbers

Those are tiny Caribbean islands compared to Mexico

I think he’s talking about Jersey specifically. If so. Ricans and Dominicans def have longer history in this part of the country.

 

[Geek Nasty]

How the fukk can you practice group economics with NO WEALTH to fukking begin with??

We are so far behind putting our few pennies and nickels together won't fix our problems.

Black Americans need a wealth transfer PERIOD.

Yall acting like these Somalis did it all on their own. They got aid when they first came to the U.S. which gave them time to get themselves together and progress as a group while not being hindered by the historical racist economic policies that have ADOS where we are today.

You don't need a whole lot of money. Example, say your neighborhood has a house that won't sell. Over time houses start to fall apart, get mice, have vagrants move in, etc. You can get everyone together on the street to buy it. If you can get 10-20 people you're talking peanuts a person. Then, you can rent it out or fix it up until you get a buyer. Then kick back the payment to everybody chipping in.

 

[analog]

So this has happened before and recently?

what would be a better solution?

These halal mortgages/coops are very common in the Muslim community where folks are willing to pay a premium versus a conventional mortgage at a bank for the privilege of calling it "interest" free.

More times the companies arranging these purchases start off with a 100% ownership stake that slowly gets transferred to the buyer as they make payments. If at some point you decide to sell, the profit is split with the company equivalent to the % stake they still hold.

I'm convinced most in this thread didn't even read the article, let alone are aware of the underlying deceptive details.

What's a better solution? Educating one self, saving, and getting a conventional loan at a competitive rate. Most definitely not this bullshyt.

 

[Apollo Creed]

if we tried this people would call us xenophobic and divisive because we didn't include everybody. But since it's other groups doing this, nobody has issues with it. Funny how nobody has gas lighted them about pan-Africanism.

lmfaoooo look at this stupid ass post.

Coli.com - "I aint getting my kid a damn thing for christmas because folks gonna be like, why u aint get all black kids something for christmas and call me xenophobic".

Mofos making excuses for not doing things sane adults normally do

Dudes need to start speaking for themselves because outside of this dumb ass form none of their own family members even see the dumb stuff they talk about.

 

[Benjamin Sisko]

Too bad the kitty pool didn't keep Muhommed Noor out of jail.

 

[truth2you]

You don't need a whole lot of money. Example, say your neighborhood has a house that won't sell. Over time houses start to fall apart, get mice, have vagrants move in, etc. You can get everyone together on the street to buy it. If you can get 10-20 people you're talking peanuts a person. Then, you can rent it out or fix it up until you get a buyer. Then kick back the payment to everybody chipping in.

That sounds real in 1980 or even 1995, but in 2019 where everyone wants to be famous, and a boss?

NAH!

Someone would try to flip it, and fukk the whole shyt up, most people can't handle big money

Sou Sou works because the people NEED each other, and they haven't got a taste of the good life yet

 

[Apollo Creed]

Too bad the kitty pool didn't keep Muhommed Noor out of jail.

look at this dumb ass post.

 

[MajesticLion]

A lot of immigrants do this, and it works because the groups are small, new to the area, and have nothing else to take away from them saving. It would never work with ADOS as a whole because it's too many of us, and even if we all united on it, you know it would be scrutinized somehow. It would work within nuclear families, though, IF they all want to own their own businesses.

This is the gift & the curse of being new to an area. You can save money because you don't have a bunch of friends to go all over the place with, so you just socialize with other people who are in the same situation you are in. The curse is you get money, but its your kids who can actually enjoy it in their youth & best health, because they do have friends with money, and know the country, so good times are for them. The curse for the kids is that means no more "sou sou", because the trust is gone now that we don't need each other!. Plus, now everyone wants to live the rich American dream, that means more slicksters in the family!

Ask how many second & third generations do "sou sou"?

All this presumes that there's an inevitability to giving in to the "allure" of the American mindset of living. There is no such thing. It's on you and how you want to live your life. There are Caribbean families that have been here for 3 and 4 generations who still do it, despite who went to whatever college, who got married and became Dr So-and-So and who bought what house.

Like pretty much anything else, all it takes is the will.

 

[Premeditated]

https://www.thecoli.com/threads/any-brehs-join-a-susu.296054/

oh shyt
I thought this whole time, susu was strictly only a Liberian thing. and not a west african and diaspora thing?

and this is what susu actually is,I always heard the old heads saying it when I was a kid, but never really gave a fukk to know what it was about

 

[truth2you]

All this presumes that there's an inevitability to giving in to the "allure" of the American mindset of living. There is no such thing. It's on you and how you want to live your life. There are Caribbean families that have been here for 3 and 4 generations who still do it, despite who went to whatever college, who got married and became Dr So-and-So and who bought what house.

Like pretty much anything else, all it takes is the will.

There will always be exceptions, but you don't talk about exceptions, you talk about the general rule because that is what you will experience in your everyday time

Like I said, most second & third generation don't do sou sou anymore. Just ask in this thread, but people lie so its no point. I know it isn't done in high numbers because if it were those groups wouldn't be in debt like they are, and would have a much higher standard of living. They would live the american dream just like most white folks do.

 

[analog]

A lot of immigrants do this, and it works because the groups are small, new to the area, and have nothing else to take away from them saving. It would never work with ADOS as a whole because it's too many of us, and even if we all united on it, you know it would be scrutinized somehow. It would work within nuclear families, though, IF they all want to own their own businesses.

This is the gift & the curse of being new to an area. You can save money because you don't have a bunch of friends to go all over the place with, so you just socialize with other people who are in the same situation you are in. The curse is you get money, but its your kids who can actually enjoy it in their youth & best health, because they do have friends with money, and know the country, so good times are for them. The curse for the kids is that means no more "sou sou", because the trust is gone now that we don't need each other!. Plus, now everyone wants to live the rich American dream, that means more slicksters in the family!

Ask how many second & third generations do "sou sou"?

Yea at first I tonight only Caribbean’s do it but nah it’s just called something different in all immigrant groups.

When I worked at NYU the black and Hispanic guards did this also. AAs, Caribbean’s and Puerto Rican’s but I didn’t join cause I have severe trust issues when it comes to money.

You don't need a whole lot of money. Example, say your neighborhood has a house that won't sell. Over time houses start to fall apart, get mice, have vagrants move in, etc. You can get everyone together on the street to buy it. If you can get 10-20 people you're talking peanuts a person. Then, you can rent it out or fix it up until you get a buyer. Then kick back the payment to everybody chipping in.

Just to quote a few but what you all are talking about is not the same as what the OP posted which is more akin to a pyramid scheme

Folks about to be hustled out of their hard earned money skipping over the details similar to the folks that get duped into sub prime mortgages, and reverse mortgages.

 

[Captain Crunch]

He’s not totally wrong tho. Despite how broke someone might be they can still handle money better.

The issue is poverty keeps you so busy that you have no time budget and make smart decisions.

Not disrespect breh, but as a non-ADOS person you can’t speak on ADOS issues. No amount of money management, will make broke ADOS people’s financial troubles go away without a substantial increase of money coming in.

 

[Cobalt Mist]

Textbook juelzing post

@ bold: @ trying to get reparations from said government being the more logical conclusion knowing this.

And those reports really dont conclude that because they use the racial wealth gap as the measure for the data which is stupid. People like jeff bezos, warren buffet and most of the 1℅ are white despite them being outliers of the white population. They contribute to this measurement, so its retarded to use catching up to a mass statistic of wealth as a means to say group economics wouldn't improve our communities across the board.


@ underlined group economics attacks exactly this

The reparations discussion is mainly about exerting our political power. Whether we receive reparations or not, this movement is about moving forward with our best interests.

 

[8WON6]

lmfaoooo look at this stupid ass post.

Coli.com - "I aint getting my kid a damn thing for christmas because folks gonna be like, why u aint get all black kids something for christmas and call me xenophobic".

Mofos making excuses for not doing things sane adults normally do

Dudes need to start speaking for themselves because outside of this dumb ass form none of their own family members even see the dumb stuff they talk about.

AND YOU DIDN'T REFUTE A fukkING THING I SAID. YOU JUST GIGGLED.

This is the exact shyt ADOS is trying to do. Build for our specific set of people. But when we do it we're xenophobic and divisive. Now when it's Somalis all of a sudden nikkas like you have nothing but praise and calling it "chessmoves" and unity. LMAO. blatant hypocrisy.

When you can't refute something just giggle and insult.


edit: and I have no problem with them doing the shyt, just don't sit there mad when ADOS exclude people and build specifically for ourselves.