Why rent is so expensive and black homeownership is so low

[GunRanger]

Homes are assets you can pass down to your children. Borrow against its value or sell outright for cash. The biggest gap in Black and white net worth is due to the percentage of home ownership.

The biggest gap is in stock ownership. Stocks rise faster, have better returns long term, and carry no debt to them.

 

[yung Herbie Hancock]

I’m starting to think the new COINTELPRO is this gender wars and social media shyt

You're starting? Niggga we BEEN saying this. There were nikkas on here telling yall that chrystelyn karazin and divestors were agent back in 2013 ON THIS SITE. On top of that CACs are discovering that the recent right wing push is being funded by peter thiel, leonard leo, and othher right wing tech/finance billionaires. Look up the federalist society. They been planning all this shyt since the 1980s.

 

[yung Herbie Hancock]

The average person doesn’t know a they can own a home with less than $5000 dollars. FHA loans are real and typically lead to other benefits like down payment assistance and lower internet rates.


If this information was pushed instead of workshops and selective workloads these organizations choose, many more people would own homes.

Facts. I have a VA loand because I'm a veteran and even I dont know what im supposed to do with it. I need better financial literacy

 

[yung Herbie Hancock]

The problem is the majority of the black population is in urban areas which happen to be super expensive to own property in. We need to migrate to smaller cities to purchase homes and land. More predominantly black small towns would aid this.

Might be too late. Latinos said they getting ready to migrate down south.

 

[yung Herbie Hancock]

The biggest gap is in stock ownership. Stocks rise faster, have better returns long term, and carry no debt to them.

Yeah I'm surrised that nikkas weren't buying stocks during the 1990s and early 2000s. Roth IRA plus a little bit of money in amazon and microsoft.... that's fortune right there.

 

[Armchair Militant]

They never actually owned those homes.

 

[ORDER_66]

They never actually owned those homes.

They who?

 

[Conan]

This is common fukking sense. The reason why rent and housing is so high is because demand > supply. Flood the markets with new housing stock and prices on both rents and houses will go down.

But then existing homeowners and property owners who bought high are fukked, so that's why they oppose new building. "Preserve the character of the neighborhood"

Food for thought @Wiseborn as you finalize plans to kill landlords. Why not kill them inside by flooding the market?

 

[OperationNumbNutts]

I’m starting to think the new COINTELPRO is this gender wars and social media shyt

It does serve a purpose especially for capitalism. Single people tend to spend more than married folks.

 

[Conan]

Omg, disaster!!! Too many apartments on the market! We're doomed!

(We = property speculators)

 

[Mike Nasty]

But then existing homeowners and property owners who bought high are fukked, so that's why they oppose new building. "Preserve the character of the neighborhood"

I don't know about "fukked". I am sure they would all welcome the lower property taxes.

 

[Gritsngravy]

This is common fukking sense. The reason why rent and housing is so high is because demand > supply. Flood the markets with new housing stock and prices on both rents and houses will go down.

But then existing homeowners and property owners who bought high are fukked, so that's why they oppose new building. "Preserve the character of the neighborhood"

Food for thought @Wiseborn as you finalize plans to kill landlords. Why not kill them inside by flooding the market?

It’s these banks and hedge funds who own the housing trying to manipulate the market, so of course they will be the main ones trying to keep manipulate demand and what not, they use the excuse of construction and materials being expensive but that’s bullshyt

 

[Conan]

I don't know about "fukked". I am sure they would all welcome the lower property taxes.

True.

That said, a lot of the NIMBYs oppose new housing off the premise that one way or another, they'll be negatively impacted

 

[Mike Nasty]

True.

That said, a lot of the NIMBYs oppose new housing off the premise that one way or another, they'll be negatively impacted

It definitely affects traffic. You see it in every city, they just throw up subdivisions without upgrading infrastructure and it turns a nice area into a shythole.

 

[Conan]

It’s these banks and hedge funds who own the housing trying to manipulate the market, so of course they will be the main ones trying to keep manipulate demand and what not, they use the excuse of construction and materials being expensive but that’s bullshyt

Banks and hedge funds own a small amount of the housing stock.

It definitely affects traffic. You see it in every city, they just throw up subdivisions without upgrading infrastructure and it turns a nice area into a shythole.

shyt-hole is stretching it. Unless you define shyt-holes as places with bad traffic.

You can have high density without it deteriorating. Takes more planning. But even without the planning, more housing is better.