Homeownership Among American Blacks Lowest In 18 Years

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Homeownership among American black families has contracted to its lowest point in 18 years, according to a Tuesday report by Bloomberg. The new information comes at a time when the decline in homeownership for the general population has stabilized and, in some demographics, is on a slight rebound.

According to the report, “18 years of economic progress” for blacks in the U.S. “has vanished, with a rebound in housing slipping further out of reach and the unemployment rate almost twice that of whites.”

Bloomberg doesn’t blame the Obama Administration for that recent reversal, but Breitbart’s John Nolte does.

“Had Obama enacted proven economic policies after becoming president, the economy and housing market would have already rebounded and beyond. But Obama chose big government policies, and now we find ourselves in the middle of a so-called recovery that only our pathetic and subservient media could spin as ‘good enough,’” writes Nolte.

“[A]fter a half-century of a War on Poverty and five years of a black man as president, the gap between white and black in every important economic area is still just as wide as it was trillions and trillions of taxpayer dollars ago.”

From the Bloomberg report:

The homeownership rate for blacks fell from 50 percent during the housing bubble to 43 percent in the second quarter, the lowest since 1995. The rate for whites stopped falling two years ago, settling at about 73 percent, only 3 percentage points below the 2004 peak, according to the Census Bureau.

In late August, the Pew Research Center released a report that showed poverty among black Americans, which had fallen steadily since the Civil Rights era, had begun inching higher again over the past decade.

The poverty rate among black Americans now stands at 28 percent, compared with 10 percent among whites, while black unemployment rate stands at 12.6% — nearly double the 6.6 percent unemployment rate among whites.

 

Personal Liberty

Ben Bullard

Reconciling the concept of individual sovereignty with conscientious participation in the modern American political process is a continuing preoccupation for staff writer Ben Bullard. A former community newspaper writer, Bullard has closely observed the manner in which well-meaning small-town politicians and policy makers often accept, unthinkingly, their increasingly marginal role in shaping the quality of their own lives, as well as those of the people whom they serve. He argues that American public policy is plagued by inscrutable and corrupt motives on a national scale, a fundamental problem which individuals, families and communities must strive to solve. This, he argues, can be achieved only as Americans rediscover the principal role each citizen plays in enriching the welfare of our Republic.

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  • duif100

    I guess Obama has been good for the black man.
    Maybe Bush was better.

    • Deerinwater

      I don’t very many people that could start flat footed and be in the position to purchase a home in just 5 years. ~ That would require a 20% savings in annual income and rigid discretionary spending practices ~and / or much better wages.

      Who do you know that’s enjoyed high wages consistently enough to have a fat savings account today?

      This “more month after the end of the money” was in full effect well before the current office holder took office.

      43’s policies, ~ were not that “so wonderful” ~ for most American’s, ~ yet you would defend the him still. ~ “Tax less and Spend more” is as bad as “Tax more and Spend more”

      It was the Banker’s and Investor’s ~ that got their share and half of yours and mine. Long enough ago the “trail is cold” and the names changed, the tracks covered over.

      • duif100

        Bill Clinton (another liar (I never had sex with that woman)was the president who signed the laws to make the real estate market collapse possible. Another liberal Dem liar. His “wife” learned well.

        • Deerinwater

          yea, lying about your sex life is a real crime. ~ It’s always best to tell the truth ~ names , events , just how “damp” it really was. Is she a “pillow biter” and moaner? We want details! ~ False pretense of any modesty or civility is wasted during a body cavity search for the truth in a kangaroo court of partisan politics.

    • Quester55

      DORK100, Unless the entire Democratic party is black, you have your work cut out for proving such a LIE!
      Bigots like yourself are a dime a doz. And come in all sizes, shapes & colors!Most of my people can’t stand that Anti-American, Lazy ass Muslim, currently Plotting in the Black House, on how to take over the world!

  • ChiefJoe

    It is sad that the black community have made themselves slaves to the Democrat Party. It’s always easier to blame the evil Republicans and free enterprise for failures in the marketplace and in the homes. All tyrannies require a plausible enemy, they must have someone external to blame for the failures of their programs.

  • guy r west

    personaily i dont know any one who has realy benfited dureing the last fuew years from this big goverment aproch .

    • Deerinwater

      Well? ~ I don’t know Wall Street either.

  • Deerinwater

    Own one or attempting to? ~ Government is smaller now then it was in 2009.

    I fact everything is smaller with the exclusion of a top wage earners, earnings . They are living as large as ever.

    So, ~ now it’s your turn to tell me how envious I am.

  • IBCAMN

    are they counting the blacks breaking into houses(in Mich.) and using showers and eating peoples food while they are out or no??
    are they using the stats on the black people squating in abandoned houses?
    think maybe that would bring it up a bit!!

    • Quester55

      ibcamm, What will happen to those Abandoned Buildings, Be Tore down, Sold to someone that Still has a Job?, think of it this way, A $250,000.00 Abandoned Home, Goes on the market for Resale, For the Same price, now a Family or three move in & take shelter for the winter, Those people living on the streets CAN’T Get Government Welfare WITHOUT AN ADDRESS, so now they can! If they get caught, Some or Maybe all will go to jail 7 still they win!
      Or The Smart ones, Pool their welfare & Any monies (IF Any) they get from the Government, Leave that house, for a short time, Offer the bank a Fraction of the asking price, offering the facts that Some Squatters have been living in the house 7 it’s a mess, Chances are, The bank will cut their loss & sell that dump for $100,000.00 or less.It’s a Win – Win Play, that has worked for generations.

  • SSMcDonald

    Conspicuously missing (big surprise) from Bloomberg’s report is the fact that blacks are increasingly living in government funded housing. Why own a place when this government will provide housing to them for free? Free housing?? you and I pay for their housing. Just another one of the increasing outrages from this federal government.

    • Quester55

      S/S, Guess I found that one rotten Apple in the barrow, Trying to SPOIL the rest of the apples!
      Your Good at Dumping a Load on the Black Race, Yet here in Texas, I have seen JUST AS MANY WHITE Faces, living on & IN those Government Owned or Controlled Apt. Buildings. Shoot, Many are packed with 2 family’s of Mexicans in the same Apartment.

      So What, You Jealous that your not living their, or are you just as big a BIGOT that WE All Think you are?!?

  • Bennie Flagg

    People of Color ( African descent ) Only 12% of the Population. However that still doesn’t change the disparity of the housing, jobs, health, wealth.

  • Bennie Flagg

    People of Color ( African descent ) Only 12% of the Population. However that still doesn’t change the disparity of the housing, jobs, health, wealth.

    • Quester55

      Just So, Bennie, well said.
      what the Unemployed citizens need now, Is to swallow their PRIDE, And Offer to work for less & Go to those FIRE Spots that are still going on & Rebuild those homes, lost in the most recent blaze.
      BEFORE those WET-Backs STEAL All of OUR Jobs!

  • Albert Maslar

    Decline in home ownership is startlingly obvious when as in our case, my disabled wife has an aide for two hours twice a day and they are generally minorities. The upsetting fact is that they basically do not know how to take care of a house, obviously because they do not own one, and therefore do not know how to take care of the house as their own is rented or Section 8. Unused lights do not get turned off, hot water is kept running etc. .Maybe that is how ghettos are created.

  • Quester55

    According to BLOOMBERG’S Report?, Really ?, Who would have guessed that such an report would concentrate on Black Family’s only?
    WE Have an Equal number (If Not More) of Whites, loosing their homes, due to unpaid Mortgage Payments As well, So why the one sided coverup, Is Bloomberg trying to start another Race war again?
    Look People, Where All into This mess, Together, and this Country is Strongest, when we Forget & Forgive our Grievances & pull together as a UNITED Family, Fighting against our Enemies!

    in this case, OBAMA & HIS OVER SPENDING, His Support of our Enemies & Becoming the main reason for millions of us being OUT of WORK!!