What’s Black, Brown, and Redlined All Over?
20th June 2019
America needs to face the things we’ve done wrong and take steps towards making it right. My housing plan creates a first-of-its-kind down-payment assistance program to help Black and Brown families living in formerly redlined neighborhoods buy a home.
Of course, who can remember George W. Bush’s push in 2002 to 2004 to increase black and brown homeownership by 5.5 million households by 2010?
How’d that work out anyway?
The reason banks ‘redlined’ certain areas is not out of racism but because those areas were behavioral sinks full of people who didn’t pay their mortgages (i.e. ‘bad risks’). Banks don’t exist to make loans, they exist to make money by making loans. Politicians (Democrats especially) routinely ignore that.