Homeownership Racial Discrimination - Catherine Hudson

The article I read discussed the racial discriminations that can be observed in the American homeownership industry. “Redlining” was popular in the 1930s and consisted of surveyors with the federal Home Owners’ Loan Corporation drawing red lines on neighborhoods, in this way, warning presumedly white people of the presence of African Americans and other minorities. Understandably, this kind of immoral demarcation was banned 50 years ago and for the past 40 years, banks have had a legal obligation under the Community Reinvestment Act to solicit clients from all segments of their communities. However, studies from major metropolitan such as Atlanta, Detroit, Philadelphia, Rockford, Ill., St. Louis and San Antonio, have proven that people of color are much more likely to be denied mortgage loans than white people. One particular example that the article listed was that of a 33 year old black woman, who despite having a degree from Northwestern University, good credit score and an estimated salary of $60,000 a year from teaching computer programming as a contractor for Rutgers University, was denied the loan application by Philadelphia Mortgage Advisors in 2016 on the pretense that her contract income was not consistent enough. So she got a full-time job at the University of Pennsylvania managing a million-dollar grant and applied again in 2017 at the Santander Bank but the process dragged on for months until an unpaid $284 electric bill appeared on her credit report and the bank announced the official denial despite her paying the bill immediately. Even more unbelievable is that when her half white, half japanese partner who works part-time for a grocery store with an estimated salary of $144.65 every two weeks, contacted the loan officer she received an immediate response and was able to tie down the loan and get the three-bedroom place for them in just a few weeks. I thought this article and story was super interesting because it clearly demonstrates the blatant discrimination and unfairness that African Americans and people of color continue to face for whatever reason. In the words of Thomas Curry, America’s previous top bank regular: "It's not acceptable from the standpoint of what we want as a nation: to make sure that everyone shares in economic prosperity”. The disparity between white people and those of color is comparable to that of the Jim Crow era and only continues to grow greater due to the unreasonable denials and limited anti-discrimination enforcement. For example, during President Donald Trump's first year in office, the Justice Department did not sue a single lender for racial discrimination. I think it’s really sad that in 2019 we continue to deal with the some of the same racial issues as hundreds of years ago simply because some people can’t wrap their head around allowing everybody to have an equal chance at prosperity through not only homeownership but every aspect of life. I don’t believe people should feel entitled or inherently better simply because of the color of their skin.

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