African-Americans squeezed out of the housing market

CNN Money ^ | January 27, 2014 | Les Christie

[rightwingintelligentsia]

More African-Americans are being squeezed out of the housing market.

Not only are they less likely to apply for a mortgage than any other ethnic group, but African-Americans are also 2.4 times more likely to get denied a mortgage than Whites, a recent study conducted by Zillow and the National Urban League found.

[miliantnutcase]

That’s racist? ;-O

[Red in Blue PA]

African-Americans are also 2.4 times more likely to get denied a mortgage than Whites

It couldn't be that they are much less likely to attend college, have stable families, along with strong income? No, it must be race/s

[ßuddaßudd]

needs the j o b to gets a crib
fool

[dfwgator]

Because we all know white people give each other stuff for free.

[DPMD]

And this is how 2008 all started...

[freekitty]

BS

[dfwgator]

Rinse. Lather. Repeat.

[dsrtsage]

I need to go look something up now. I remember years ago an online mortgage company in the crosshairs because it was discovered that blacks were turned down at a much higher rate than whites. Some groups studied this, and the mortgage company got a bit of bad press. Then it became more widely known that the mortgage company did not ask for the race of the applicant, at which time the whole kerfuffle got dissappeared.

[Red_Devil 232]

I guess showing a few EBT cards is not considered a good credit reference for most lenders.

[MNDude]

Some government action is definitely needed to correct this!

[taillightchaser]

I thought your black messiah was supposed to fix that for all you folk.

[from occupied ga]

African-Americans squeezed out of the housing market

Yawn - "World ends women and minorities hit hardest."

[areukiddingme1]

“I guess showing a few EBT cards is not considered a good credit reference for most lenders.”

Well now, if the EBT cards had odumbo’s picture on them...that would be like money in the bank.

[1rudeboy]

but African-Americans are also 2.4 times more likely to get denied a mortgage than Whites

[Andyman]

And more whites get denied than Asians. When oh when will we get the justice we deserve?

[Personal Responsibility]

Government should get involved and pass a law to increase home ownership to reinvest in the community.

We can call it the Community Reinvestment Act.

[Starstruck]

What do you mean I need to have job to get a loan? That’s racist.

[Mr. Jeeves]

African-Americans are also 2.4 times more likely to get denied a mortgage than Whites.

Everybody is getting denied mortgages these days. What loans are getting made are solely to employees with the right amount of documentable W2 income...reinforcing my pet theory that the mortgage markets post Dodd-Frank are being used by the Administration to reward union labor and BigCorp employees who pay their minimum annual bribe to the IRS and punish those kulaks (self-employed, small business owners) who due to deductions or losses may have little or no tax liability in a given year and can't play the game the "right" way.

[forgotten man]

I used to be a tax preparer in an inner city area. I saw a lot of black people who had good incomes from gubmint jobs, but they still were renting. Maybe they had rotten credit, but they had the income.