Quote:
Originally Posted by mrnyc
we are talking about being blocked out of the wealthy club here, not your average 401k schmuck.
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Well the NPR/NY Times/Citylab journalists who all jumped on the
racist housing policy of the 1960s bandwagon are definitely schmucks. Aside from those lucky homes in extremely specific locations (Manhattan, SF, beachfront), most have broken even at best or even lost money. Hundreds of thousands have been torn down since the highways were completed - who owned all of those abandoned buildings? Mostly white investors. Whitey and Jews lost the money as former white and jewish neighborhoods were abandoned, not blacks.
The dishonest position taken by the journalists writing clickbait urbanist articles is that because blacks were prohibited from buying homes in some neighborhoods prior to the 1960s, that they were kept from gaining equity. Well they were also kept from losing it, since they weren't in the game, in the same way that someone who isn't in stocks isn't immediately affected during a downturn.
[QUOTE=mrnyc;9458358]
if you had money in there in the 2008 bush era economic disaster your got royally screwed.
[quote]
Yeah, if you were forced to sell. And same with primary residences - you know, those things that NPR/NY Times/Citylab tell us are the key to minorities building wealth.
Quote:
Originally Posted by mrnyc
so poors are locked out -- they get to work a lot of ot
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Yeah that's exactly what I've done since I left journalism behind more than 10 years ago - 48 or 49 70-hour weeks per year. I didn't care about the attention I got for being in news. Unfortunately, a lot of people in journalism do care about it (in fact, they get a little dopamine rush when they see their name in the byline), and in order to keep working in the current climate, they're more than willing to feed the Twitter swarm hunks of sensational rubbish like the OP's link.