Posted on 08/03/2013 10:39:52 AM PDT by whitedog57
I am speaking at the Cleveland Federal Reserve on September 19th on the future of housing finance. One topic I will discuss is how to address the frightful plight of American-Americans in terms of unemployment and homeownership.
Friday’s jobs report painted a grim picture for the economy. Even Politico confessed that it was “tepid,” but since 81% of jobs created since March were part-time jobs, it was less-than-tepid in my opinion.
In terms of unemployment by race, white males have the lowest unemployment rate followed by Latino men and African-American men.
unemprAacw
Note that Latino male unemployment and white male unemployment were close together before the “great recession.” Latino labor force participation is the highest among the racial groups with whites second and African-Americans third.
lfprace
Larry Walker Jr. argues that the African-American unemployment rate is 37.9%, not 12.6%. Here is the BLS table:
Black Unempolyment - July 2013
Whether it is 12.6% or 37.9%, African-American unemployment is too high.`And so is unemployment for other racial groups.
Higher unemployment rates also lead to lower homeownership rates for Latinos and African-Americans. White homeownership rates are 73.3% as of Q2 2013. Latino homeownership rates are at 45.9% and African-American homeownership rates are at 42.9%.
horatesrace
The dismal jobs report does not give one optimism for a surge in homeownership rates for Latinos or African-Americans. Since Q1 2009, AFrican-American homeownership has fallen from 46.1% to 42.9%. Latino homeownership fell from 48.6% to 45.9%. White homeownership fell from 74.7% to 73.3%. In other words, the much discussed decline in the homeownership race is most due to declines in African-American and Latino homeownership rates.
nhor
So, I will be asking the following question: “Where’s the beef?” The Federal government has had the Community Reinvestment Act (CRA) from Carter, the National Homeownership Strategy from Clinton nhsdream2, and the incentives to purchase a home are still in place under Bush (Dubya) and Obama. And The Fed has helped lower mortgage rates (green live) by 83% since Q2 1984 and we STILL have declining African-American homeownership rates.
gdpt10
Throw in the fact the almost 50% of Americans pay income taxes …
CDA2012indexdependencegovtchart1
and housing assistance continues to rise, and we have to ask the question about whether all these subsidies are paying off?
CDA2012indexdependencegovtchart3600px
Where’s the beef?
Wheres-the-Beef1
That's probably a freudian slip/misprint/ but it's a good term -- one we should strive for. It would be an outright repudiation of the ridiculous, PC, diversity, multicultural domination we've been under for the past half-century.
If only...
And I thought ebonics was bad.
Well, wishful thinking rarely accomplishes much. History will tell the truth sooner or later.
Exactly!
Why do politicians and pundits avoid the obvious reasons for the high unemployment levels of young blacks? They are raised with little supervision, a sense of entitlement, no respect for societal norms of dress, politeness and speech all the while eschewing education. O’Reilly finally said it in public.......They are largely unemployable.
We aren’t allowed to talk about the obvious reasons for black unemployment because we live in a politically correct world now.
if you are critical of the fact that over 70% of black babies are born out of wedlock, you are considered both racist and critical of single mothers. You are said to be hateful.
If you criticize school achievement of black students, you are told that these schools don’t have enough resources, and that is the only problem which is allowed to be discussed.
if you talk about crime among black men, you get lectured by liberals about police brutality and such.
bottom line is that none of the problems of black Americans are the fault of the people involved. Instead, we’re supposed to be liberal and criticize the.legacy of slavery and JIM Crow, white flight to the suburbs, institutional racism, or any other evil but the personal behavior of people themselves.
And it’ll all be so much better after Comprehensive Immigration Reform!!
Ya, once we legalize millions here illegally, and allow many more millions in over the next many years, this will solve all of these problems. (sarcasm)
It’d be fun to slip that into conversation with someone who uses “African American” -
Interrupt with “as opposed to American Americans”.
That oughta make some PC heads explode.
Not to worry. Once 55 million illegals are made legal, black will be pushed up the employment latter to more favorable positions as sports stars and entertainers.
“American Americans”
Just giving you a heads-up: I’ll be using this one (often). It is brilliant.
The wealthiest people I know don’t own homes; here in NJ that is simply buying into a high property tax bill and a huge municipal IOU to fund retirees who will collect pensions for longer than they worked.
They keep their mobility (able to follow jobs to other states & countries as needed - and they’ve done so), and can ensure that they’ll pay much less for the permanent underclass than those of us locked into mortgages.
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