Saturday, March 2, 2024

 Homes owned by Black people in Richmond are valued less (msn.com)


I know a little bit about Richmond but I'll be honest, I don't know about the housing market regarding race. I will say, however, that there are differences in what some would call Black or White neighborhoods.

You will generally find more crime and worse schools in Black neighborhoods. You can call that statement racist but you can't refute it. It is what it is. More crime and poor schools tend to lower home values.

There is a lower marriage rate in the Black community vs the White community. A married couple has an easier time buying a home than a single person (of any race) or an unmarried couple. Blacks also tend to have lower credit scores which no doubt causes some to buy smaller and less expensive homes.

The list can on and on about education, earnings, having fewer children, waiting longer to have children, etc. All of this has an effect on how much you can afford to pay for a home.

It's realism not racism to discuss this.

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