Reply to BLM Coalition Reveals 6 Point Policy Platform

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[quote=Anonymous][quote=Anonymous]George Lipsitz, Professor in the Department of Black Studies at the University of California, Santa Barbara and the author of over half a dozen books said, "net worth is almost totally determined by past opportunities for asset accumulation, and therefore is the one figure most likely to reflect the history of discrimination."
Studies show that the median white family - about 41 million households across the nation - have a net worth of $116,000 dollars while nearly 40 percent or 5.6 million African-American homes in the U.S. have zero or negative net worth.  Reparations should be instituted to provide a path for more African-Americans to have homeownership and subsequently improve their net worth. [/quote]

BS. Look at immigrant families who go from zero net worth to sending their kids to college to in one generation.

As for paths to homeownership, there are many programs that do such that , including, but not limited to:

Providing $50 million to implement the American Dream Downpayment Fund, which will enable more people to become homeowners by offering them downpayment assistance - often the biggest hurdle to homeownership. HUD expanded the program and provide $200 million in 2003.

Increased flexibility of the Section 8 voucher program to permit low-income families to use up to one year's worth of the vouchers for the downpayment on a home, a move that could help hundreds of thousands families to buy their own home.

Giving $17.5 million in housing counseling assistance grants to 11 national and regional intermediary agencies and 358 local and state housing counseling agencies to counsel both current and would-be homeowners about their responsibilities and rights as owners and renters.

Increasing housing counseling grants to a total of $35 million for housing counseling.

Simplification of FHA's streamline refinance transactions, which enable homeowners to have lower monthly mortgage payments without having to bring additional cash to the settlement.[/quote]

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