The post a week ago regarding the depressing stats tracing black economic progress over the last 50 years deserves examination indefinitely, until some answers besides “It’s all discrimination!” are identified and confronted. I remain puzzled that the EPI study received such paltry coverage and discussion in the mainstream media, but to be fair, there were more important stories, like a porn star suing the President.
Chris Marschner opened the topic for focus here, starting out with one area only, home ownership. I said I would post his comment as aq Comment of the Day to prompt similar exploration by the brain-trust here. Chris starts with home ownership. Other categories African Americans still lag in: health, wages, educational achievement, wealth, employment, and staying out of prison. As Chris says,
“Each one of these issues must be examined individually and the solutions must be integrative.”
This should be a beginning of a discourse, not the end. (I apologize to Chris for taking so long to post it.)
Here is his Comment of the Day on the post, NOW What? The Most Discouraging News Of All
On home ownership.
I once suggested that certain select section 8 housing voucher recipients be allowed to use the subsidy to offset mortgage payments. Currently, we are transferring wealth from taxpayers to landlords. Why should existing owners of capital be subsidized? Create an approximation of a reverse mortgage in which taxpayers buy a property and the housing voucher is used to amortize the equivalent of a mortgage back to the taxpayer. In this manner we put up the money upfront and the reciepient retires a mortgage equivalent using the voucher, their contributions, and behavioral requirements not much different than what currently exists for section 8 vouchers. Over time this would increase the rate of ownership, increase vesting in all neighborhoods, and at some point the total subsidy is ended for an individual when the mortgage is fully amortized.
Establishing effective criteria regarding eligibility is key. Criteria could include:
- Must be a married couple,
- Children, if any must attend school regularly
- No illicit drug use
- Recipients must be employed, with at least one full time.
Planning and execution of such a plan requires more than I can develop here.
As usual with her contributions, Mrs. Q is thought-provoking and frank in her searing Comment Of The Day on the post,,NOW What? The Most Discouraging News Of All: