A $5 million check does not transform ghetto trash into a responsible citizen.
Imagine 55,000 ghetto trash millionaires fanning out across the country to buy into affluent neighborhoods.
Imagine ordinary white homebuyers who've worked hard for a down payment, competing in home bidding wars with 55,000 ghetto trash, all-cash buyers.
It will drive up home prices, maybe even doubling them for a short period of time. Then the repos will begin and home prices will crash.
I bet foreclosure numbers will be 70-80% of reparation money home purchases.
Then the complaints about how they were robbed and that they need a second round of money will begin.
You can prove this when developments are required to have 10% as ‘lower income’ properties-—but the house/landscaping MUST be the same as the other 90%.
Lived in San Fernando Valley in Los Angeles.
Development in “Porter Ranch” at top of Tampa Ave was demanded to be 10% at lower prices.
ANY PERSON DRIVING thru there can tell IMMEDIATELY which homes are held by ‘lower income’ persons.