My in-laws lived in Kettering. When Carter was president, he supposedly gave very low-interest home loans to minorities (remember, this was when interest rates were 11% plus). My in-laws were the last family on the block to sell- the entire neighborhood became black.
Then they went to Silver Spring. Their condo decreased in value from $150k plus (in the 90’s) to less than $95k in the time they lived there.
What is happening? All I can go by is familial experience. Classic government malfunction... anything the government subsidizes causes decay.
It happened here, too. When we moved into this then-new development 15 years ago, the neighborhood was mostly white professionals, with about 15% black professionals — doctors, accountants, etc.
Then the helpful Democrats bused kids from poor neighborhoods until the schools were 95% “children of color.” Now, around 70% of homes that sell go to black families.
Who suffered the most? Besides the property values, which dropped almost 35%, it was the black professional families who now have to send their kids to private schools to keep them from associating with (and being stereotyped by) the drug- and knife-wielding kids from the po’ neighborhoods.