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Wednesday, August 08, 2018

In Baltimore, The Gap Between White And Black Homeownership Persists

Devan Southerland knows she wants to purchase a home in Baltimore City. She is cautious, though, after hearing about how predatory lenders disproportionately targeted minority homebuyers a decade ago. "I just want to be smart about it," Southerland says. "Because I know a lot of black people suffered during the whole housing crisis and whole subprime lending issue that happened a few years ago."

In the historic Baltimore neighborhood of Bolton Hill, Southerland and her 10-year-old son, Liam, tour the tree-lined streets and dream about one day purchasing a home in this culturally diverse enclave. Average home prices in the neighborhood, known for its 19th century architecture, go for about $380,000.

Southerland is 39 years old and she is juggling a lot. As a legal assistant, she makes about $25,000 a year. She saves what she can but is also working on a master's degree in human services and has student loans.



Anonymous said...

You have to have a job to qualify for a home loan.....selling crack isn't consider approved employment....white folks work respected jobs!

Anonymous said...

Anyone lending over $300,000 to someone making $25K per year has something bad up their sleeves.

Anonymous said...

9:27 PM Yea, I had that WTH moment after reading that too

Anonymous said...

Probably should riot and give them room.

Anonymous said...

Why is this gap a big deal. If blacks want to own a home they can. Just get a job and save your money for a down payment. There are even programs out their assisting people that want to own a home.

Quit making this a divisive question. This is the land of opportunity and everyone has their chance at success.

Anonymous said...

The only job a young black wants is basketball or football . No education required .

Anonymous said...

First thing they need to do is get a good job and save some money...that means they can't have the new iPhone, 22" rims (let alone the Jag to mount them on), or the 60" TV. Too many collect welfare and food stamps while the boyfriend drives the Blingillac!

With a good job (with a little longevity in it) and some savings, you can get a home mortgage at a decent rate. Problem is they axe too many inappropriately worded questions and can't get hired.

I don't see this changing in a big way until we get a few successful people making the transition from hood to home...and advertising how they did it...then the rest have to listed and act accordingly!

It took Obama to finish putting them back in slavery like this - they need to dig themselves out once again!

Anonymous said...

Sadly that lady can continue to desire a home that she CAN'T afford. I don't care if you're purple; if you can't afford and have low or no credit scores you can't get that house or any other house...period

This is common sense, good business; NOT discrimination!!!

Anonymous said...

THanks Obama!