Washington Post Special: Black homeowners in PG County have watched wealth vanish

[dennis roadman]

you lying

Meant to say two bedroom

Still high as fukk

Downtown ss gonna run you bout 16 for a studio, not rent control tho

 

[THE MACHINE]

Well Damn. I'm still debating with myself whether or not I should stay in the DMV. If I do I don't want to rent forever.

You've been here your whole life?

Born in District Heights, live in Cap Heights. Work in VA. Start my job in Bethesda on the 12th

 

[badtguy]

We're looking at houses in Beechtree and Canter Creek. Might make a move in the next 2 years. PG County for life

Nikkas think I'm playing when I say PG for life. Or at least maybeeeeee Burtonsville, silver spring, Waldorf.

I'd never move Outta this area. Lotta good black folks, jobs in DC, VA and MD that pay well. Beautiful women, HBCUS, black restaurants.

 

[Heretic]

When whites leave the area the value of your home goes with it unless you have an economic structure to prop up the value of your home.

Cacs leave,
Cacs revalue your property
Cacs come back and buy everything cheap
Cacs revalue their property
New prices guarantee you not coming back anytime soon

Cacs

This is true, then they move back and call it a reinvigoration but basically they buy low sell high, move somewhere new and undeveloped and wait for the "blacks" to follow then wash rinse repeat.

the key to it is to live within your means. Don't buy a 500,000 home with a flex mortgage and you only make 70,000 a year

People mostly did this on the promise of being able to refinance or sell for more than you paid for. A lot of those people just saw a chance to be in their dream home. Mortgage lenders and banks are salesmen in every sense of the word.

 

[THE MACHINE]

Nikkas think I'm playing when I say PG for life. Or at least maybeeeeee Burtonsville, silver spring, Waldorf.

I'd never move Outta this area. Lotta good black folks, jobs in DC, VA and MD that pay well. Beautiful women, HBCUS, black restaurants.

Taking your kids to the doctor and seeing all black pediatricians, black dentists, black restaurant staff, black attorneys. You just don't believe it unless you're here.

 

[Skooby]

Taking your kids to the doctor and seeing all black pediatricians, black dentists, black restaurant staff, black attorneys. You just don't believe it unless you're here.

I don't have kids and don't plan on having any. That said, I just want to be someplace where I can support black businesses. Can't really do that in Nova...smh.

 

[newworldafro]

So fuucked up.....the guy basically says non-blacks need to move there to raise home prices.

 

[GoPro]

Basically. This article can be summed up with "Whites don't want to live near black people". Homes in white neighborhoods are attractive to all races but, homes in black neighborhoods, even prosperous black neighborhoods, are only attractive to blacks.

Have you even heard of gentrification?

 

[Unknown Poster]

Nah, things would be different if it weren't for these predatory loans doubling people's mortgages. Kind of hard to build if all your income is stolen from you.

this

 

[Heafcliffe]

Systemic racism at work.

Bought a house in DC and we live below our means. We live in a gentrifying neighborhood. Personally, can't fathom purchasing a $400k+ home.

"Fukk The Joneses!"

 

[THE MACHINE]

I don't have kids and don't plan on having any. That said, I just want to be someplace where I can support black businesses. Can't really do that in Nova...smh.

Come on across the bridge breh

Population estimates, July 1, 2015, (V2015)

77000 small businesses
59000 minority owned


Prince George's County, Maryland
iTotal employer establishments, 2014 14,459
iTotal employment, 2014 250,855
iTotal annual payroll, 2014 11,619,629
iTotal employment, percent change, 2013-2014 3.1%
iTotal nonemployer establishments, 2014 73,755
iAll firms, 2012 77,204
iMen-owned firms, 2012 37,899
iWomen-owned firms, 2012 34,395
iMinority-owned firms, 2012 59,172
iNonminority-owned firms, 2012 16,219
iVeteran-owned firms, 2012 7,644

 

[sayyestothis]

I worked with the breh Fred in the article back in 2008...good dude.

 

[cdc]

So fuucked up.....the guy basically says non-blacks need to move there to raise home prices.

Thats what will happen in 10 years. DC is way overpriced with some houses even in Brookland now over 1 million. Bathesda, Potomac, Arlington, Alexandria - have to be uber rich for a single family. The predatory lending coupled with some living above their means caused the Mitcheville, Bowie, etc houses to be lower than when bought. Since that area is relatively close to the city as compared to moving way out past Germantown or south past Waldorf or Dale City, PG will become more attractive for single family buyers (the cacs and indians/asians) and the prices will go up. Best plan of action for the couple in the article is to hold on for 15 more years (since she works for the Feds), retire, take their 200k equity by that time and move back to his hometown in NC to retire.

 

[#1 pick]

As someone who's lived in Bowie, I can say the biggest issue outside of white supremacy which is the root of all Blacks issues is the lack of economic. Our economic is literally based off of us being workers and not owners. If you can't employee your community, you have no community. Even my personal favorite restaurant Smokey Bones is owned by a cac in a damn near Black city. I notice more cacs moving in each day as the prices go up. It's clear cacs want Bowie back and Blacks will soon have to leave. With no economy, we really don't have shyt as a group. Even the lady who owned the smootie shop had a white husband.

 

[#1 pick]

Thats what will happen in 10 years. DC is way overpriced with some houses even in Brookland now over 1 million. Bathesda, Potomac, Arlington, Alexandria - have to be uber rich for a single family. The predatory lending coupled with some living above their means caused the Mitcheville, Bowie, etc houses to be lower than when bought. Since that area is relatively close to the city as compared to moving way out past Germantown or south past Waldorf or Dale City, PG will become more attractive for single family buyers (the cacs and indians/asians) and the prices will go up. Best plan of action for the couple in the article is to hold on for 15 more years (since she works for the Feds), retire, take their 200k equity by that time and move back to his hometown in NC to retire.

At that point, you need to keep the land and the house and rent it out with a leasing company. No point in selling hot value but the issue is, she doesn't own it yet and it doesn't seem like it will be paid in 30 years due to the type of loan it was.