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| Boak 16 For minorities, pain is severe decade after housing peaked By JOSH BOAK Jun. 20, 2016 2:47 PM EDT bigstory.ap.org/article/b8ceee210bb344e68bebe95ab73faf5a/10-years-after-housing-bubble-damage-lingers-minorities
The problem is most pronounced among minorities who already had lower ownership rates before the bubble. Actions such as "redlining" — which for decades denied loans to minorities — excluded black neighborhoods from government-backed mortgages. This made it harder for minorities to buy even as the U.S. economy surged after World War II and overall home ownership rates climbed. Many minority homeowners who bought or refinanced during the bubble eventually became trapped by predatory mortgages, some requiring no money down and monthly payments that eventually ballooned. It is obvious that there are very real impacts on those who do not have adequate housing – such discrimination has been detrimental to the lives of many in the united states therefor I affirm the resolution. A vote for the affirmative is a vote in affirmation of the necessity for equal protection for all humans regardless of race, sex, religion, economic status, or any other individual traitDownload 36.72 Kb. Share with your friends:
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