I see people have been talking about gentrification and affordable housing again. Let me shed a light on the cause of both issues:
- Redlining crippled the rich black communities all over the country and forced rich people to be forced to live with poor people, ie. leading to violence, theft, and crime due to greed.
- In addition, banks stopped giving loans to black businesses and black banks were forced to close due to unfair land tax practices, etc.
- Today, bank still consider “black” areas and neighborhoods to be less than and the market values are low, even if a few houses are rebuilt by the original black owners.
- When a white family moves in the area the banks automatically raise the market value of the nearby lots therefore causing issues.