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Sometimes it feels as if literally nothing changes. Housing discrimination produced modern-day Detroit, now the blackest city in the country, white people got about the same number of loans as black people did in real numbers. freep.com/story/money/bu…
This is what makes it hard not to believe in conspiracies. City completely destroyed by disinvestment and white flight. Homes values plummet to next to nothing. Cities are now cool again. White investors bring back sports stadiums, Quicken buying up property all around downtown..
Black people account for 84 percent of the population, get 461 home loans in 2017. White people 10 percent of the population, get 442 home loans. The bulk of the mortgages were in nine gentrifying neighborhoods. This is how the intentional gentrification of a city happens.
Kinda puts this Dan Gilbert "screw up" in a new light. michiganradio.org/post/mostly-wh…
This is so important because black people who suffered massive wealth transfers when property values tanked are now being shut out of the ability to recoup and earn wealth as investment comes back to the city. Entire sectors are completely being left out.
And once Detroit gentrified and black folks are priced out, at least around the downtown areas, there will be a lot of handwringing about how no one saw this coming and how they wished there was something they could have done.
It's hard not to see this as anything but modern-day redlining.
