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

[#1 pick]

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

Minority don't mean Black breh. There are a lot of hispanics in parts of PG and a lot of Black businesses seem to be franchises and typical shyt like hair shops and shyt like that but overall, there wasn't a lot of local restaurants or larger businesses.

 

[GoFlipAPack]

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.

How do they get into the shytty loans in the 1st place?

 

[#1 pick]

How do they get into the shytty loans in the 1st place?

They were giving them to buyers. They couldn't qualify for any other loan and they didn't realize how shytty the terms were.

 

[dennis roadman]

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.

Bowie is the whitest area in PG no shyt there are white owned businesses

Bowie High is like 50% white, Roosevelt is the next whitest and has like 250 white kids

 

[Mowgli]

@ people in DC being federal citizens

 

[GoFlipAPack]

They were giving them to buyers. They couldn't qualify for any other loan and they didn't realize how shytty the terms were.

 

[dennis roadman]

@ people in DC being federal citizens

This is Maryland, not the District

 

[Stir Fry]

How do they get into the shytty loans in the 1st place?

By having good credit but few financial resources to consult beforehand. The real estate agents and lenders weren't handing out money to every single person that walked through the door, they targeted the working class people that were always taught that they were supposed to make their money work for them, and they ended up getting screwed trying to be responsible and build towards a future for themselves. Best believe this wasn't happening in affluent white areas..

Lots of victim blaming going on in here.

 

[#1 pick]

By having good credit but few financial resources to consult beforehand. The real estate agents and lenders weren't handing out money to every single person that walked through the door, they targeted the working class people that were always taught that they were supposed to make their money work for them, and they ended up getting screwed. Best believe this wasn't happening in affluent white areas..

Nor were cacs selling Blacks homes in these areas who couldn't afford it.

 

[newworldafro]

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.

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.

I worked in PG County, lived in NE DC and NE Bmore for awhile. I peeped that a lot of blacks were going next door to Charles County.

 

[The M.I.C.]

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.

Peace,

Very true.

The trajectory on prices seems like on an eternal upward pattern. I bought my home in Alexandria earlier this year for around mid 400s, it's appreciated to right around the low 500s. My neighbors are also around 500-600k and it's not hard to find million dollar homes spread out like you said. I'm happy with the instant equity but this shyt can't be sustainable and I feel bad for anyone home buying having to deal with these high prices.

 

[#1 pick]

I worked in PG County, lived in NE DC and NE Bmore for awhile. I peeped that a lot of blacks were going next door to Charles County.

It's cheaper, better schools and the less taxes.

 

[#1 pick]

Peace,

Very true.

The trajectory on prices seems like on an eternal upward pattern. I bought my home in Alexandria earlier this year for around mid 400s, it's appreciated to right around the low 500s. My neighbors are also around 500-600k and it's not hard to find million dollar homes spread out like you said. I'm happy with the instant equity but this shyt can't be sustainable and I feel bad for anyone home buying having to deal with these high prices.

I think we gonna get one for 400-500k when the time comes.

 

[#1 pick]

By having good credit but few financial resources to consult beforehand. The real estate agents and lenders weren't handing out money to every single person that walked through the door, they targeted the working class people that were always taught that they were supposed to make their money work for them, and they ended up getting screwed trying to be responsible and build towards a future for themselves. Best believe this wasn't happening in affluent white areas..

Lots of victim blaming going on in here.

This is true.

 

[THE MACHINE]

Yeah I know that doesn't equal black but Latinos only make up 13% of the population. Black people make up 65% of the county.

Minority don't mean Black breh. There are a lot of hispanics in parts of PG and a lot of Black businesses seem to be franchises and typical shyt like hair shops and shyt like that but overall, there wasn't a lot of local restaurants or larger businesses.

White people have gone from 19 to 25% in 5 years That's why I voted against the MGM