One of those factors--in particular, federal programs that made mortgages available to people who could not afford the downpayment--a "social engineering" programs that, it was promised by community organizers and their minions in Congress, would make housing affordable for low-income citizens. That factor was also a "feel good" program that, once again promised by the community organizers and their minions in Congress, would facilitate the demise of segregation in the housing market.
During the 2008 housing crisis, ~10M million families lost their homes to foreclosure, many of those families having been awarded mortgages for which they were not qualified. Almost all of those families were forced to move. That doesn't include all of the households that never went through foreclosure but moved anyway due to the fact that many of their neighbors did move.
That's "migration" on a massive scale!
A new study suggests this migration--the result of offering mortgages to those who could not afford the down payment--represents the opposite of what was promised:
- increased segregation across metropolitan America between Blacks and Whites by 19%;
- increased segregation acoss metropolitan America between Whites and Hispanics by 50%;
- minorities who lost their homes moved to more distressed neighborhoods;
- White homeowners who could leave were the first to pull out of neighborhoods hit by foreclosures; and,
- foreclosure rates during the implosion of the housing bubble were highest in the most integrated neighborhoods.
According to a Washington Post article, the scale of this foreclosure-caused migration is massive by historical standards:
- 2.5M people migrated from the Great Plains during the Dust Bowl; and,
- 6M Blacks moved north during the decades-long Great Migration.
The "take away"? Thanks to the efforts of the community organizers and their minions in Congress, the nation hs become more segregated--undoing recent progress made in racial integrtion--with the least segregated locales being the most undermined.
Should any thinking person be surprised?
Let the discussion begin...
To read the recent study, click on the following link:
To read the Washington Post article, click on the following link:
"How the Housing Crisis Left Us More Racial Segregated."