This article is by Dorothy Brown, a professor of tax law at Emory University Law School.
The racial wealth gap has hit an all-time high whileBarack Obama has been president. The median net worth of white households is now 20 times that of black households. Why?
Some argue that the gap is a current manifestation of a historical problem. Others say blacks are to blame. While I can’t eliminate the lingering effects of slavery and Jim Crow, or change stereotypes, I can highlight one area where blacks may be inadvertently contributing to the racial wealth gap: When most black people buy homes, we hurt ourselves economically.
Home ownership has been an important vehicle in creating a solid white middle class, but it has not done the same for most black homeowners, because blacks and whites buy homes in very different neighborhoods. Research shows that homes in majority black neighborhoods do not appreciate as much as homes in overwhelmingly white neighborhoods. This appreciation gap begins whenever a neighborhood is more than 10% black, and it increases right along with the percentage of black homeowners. Yet most blacks decide to live in majority minority neighborhoods, while most whites live in overwhelmingly white neighborhoods.
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5 comments:
blacks issues today is a simple case of ignorance breeding ignorance. they hold themselves back these days, not whites or society.they have more opportunities than anyone. between hiring quotas, and curriculums in school being lowered over and over again over decades to cater to the lowest denominator. they hold themselves back with the mentality that they are still "owed" something. society owes them nothing. it's time for they look at themselves for someone to blame.
just drive through their neighborhoods and you'll see why.
They buy a shack house in a crappy neighborhood and park their bling out front...that is a choice of priorities.
The bling generally depreciates at an alarming rate - their housing in the crappy neighborhood depreciates or appreciates at a significantly slower rate.
Ditch the bling - buy a sensible car and spend the difference on a better house in a better neighborhood...especially if you have a good job and can actually make this choice!
1865 was a LONG time ago and the author actually has the audacity to mention slavery as a cause for black disparity? NO.
It's time for blacks to admit the proven inferiority of intellect, judgment, character and demeanor if they want to begin to step out of the societal and cultural ghetto they create.
Statistics prove all of the above yet no one has the fortitude to speak the truth and call it like it really is.
There is a minority of the black race that have what it takes to join the human race and they THRIVE! They are decent, respectful, intelligent, hard working, deserving individuals!
The other 80 percent call them
cornball brothers or uncle toms and they are perceived as sell outs when in fact they are role models to both blacks and whites.
When they begin to realize the NAACP is racist, when they turn their backs on the race baiters such as Sharpton, Jackson, Farrakhan and Democrats, when they realize the importance of learning English and getting a REAL education and EARNING what they get, you will see real peace and harmony among us all.
I'm not holding my breath.
4:55 Wow, well said and thank God for the Blog owner for having the guts to post such controversial truth!
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