How Systemic Racism and Implicit Bias Affects African Americans

I don’t consider myself a statistician, and I’m not an expert in this area in particular. But the claim of systemic bias in lending echos the claim of systemic bias in credit score calculations. So controlling for credit score doesn’t seem like a useful way to argue against the former. From the article:

 

Predatory lending would get people houses not red line them. That being said lenders have a lot of pressure to make loans so that practice makes more sense.

Ive talked about how red lining is old. We as blacks do not appreciate how the country is becoming less racist.

Red lining was not a practice based on hate, as much as economics in the sense that giving a black family a mortgage in a neighborhood might discourage other white borrowers

That's not an issue anymore. Ares like Katy, Sugarland, Clear Lake, etc have plenty of black families.

 

You're ****ing hopeless and a shitty troll. Just gonna ignore from this point. It was funny at first. **** gets old though.

 

Durvasa

I appreciate your effort. If you get a good job and make a lot of money, generational wealth becomes nullified in credit score calculations

 

Wow bro I wrote an intellectual post. If you aren't capable of challenging then just stfu.

What was incorrect in that post?

 

You're correct I wasn't clear so I'm being. Your argument is what I'm calling stupid

 

Predatory lending gives people houses that they will never pay off and never have a chance to pass down to their children because eventually they will have to forclouse. Hence why black families hurt the most during the subprime crisis in 2008.

And things like redlining have a multi-generational effects because guess what... Property is passed down to children.

Hence why today only around 40% of black families own a home while bear 75% of white families own a home. That's a lot more white kids having property passed down to then giving them a leg up in socioeconomic status by merely being born into a white family compared to a black family. That's the long lingering effects of systemic racism.

 

But the likelihood of getting a good job and making a lot of money is largely correlated with things like generational wealth and education of parents, isn’t it?

 

So it's the opposite of red lining. Thanks all the rest doesn't matter in regards to my point

 

Durvasa

Generational wealth is something that will never be corrected

An oil rig worker can easily make $100k a year. An electrician, a plumber, a truck driver.

UPS drivers make $38 an Hr.

Do you need college degrees for any of these jobs?

 

You replied before I finished editing my post with this add on so I'll post it again:

And things like redlining have a multi-generational effects because guess what... Property is passed down to children.

Hence why today only around 40% of black families own a home while bear 75% of white families own a home. That's a lot more white kids having property passed down to then giving them a leg up in socioeconomic status by merely being born into a white family compared to a black family. That's the long lingering effects of systemic racism.

 

You were a Marine. Do you need a college degree to get a good job?

 

As someone who knows a lot of my former peers from the military who do those type of gigs such as oil rig gigs, as it's popular gigs for veterans, those gigs are seasonal and you cannot base an entire career off it. One, it's extremely labor intensive, so expect chronic pain issues that you cannot sustain into your late 40s and 50s, and second, expect months away from families. It's contract work which means you cannot rely on employment year in and year out. It isn't stable and it isn't conducive to being a family man. It's good for that recently discharged veteran in his late 20s who doesn't have a family yet.

 

When you get a loan for a bank, they look at your savings and all assets, not just income.

If you are arguing that black people have less friends and family to back them up in case they default, and there for a bank can look at a black person and say, well because they are black they are more likely to default - that's still a decision based on race and not other factors. That's still racism. But I am not sure it's systemic racism.

Systemic racism would be if a lender isn't even aware they are being racist because the rules of getting a loan are inherently biased against people of color. for example, a bank that only gives loans to people in it's own neighborhood would be an example of systemic racism. It is on the surface not doing anything racist, but in effect, because there are no lending options in many neighborhoods that have a high population of minorities, would prevent many blacks from getting a loan not related to their qualifications for a loan. While no individual bank is being racist, the system is racist.

That's what a lot of people confuse about systemic racism.

 

On average yes hence why I got a degree. It signficantly increases your chances of having a non labor back breaking intensive job that you can only do in your physical prime and still make good money. A lot of high paying non college degree jobs are not sustain for over decades because once you get a bad back, you can't work those jobs anymore and then you are ****ed.

 

'Regardless, you don't even know the definition of systemic racism, so it's stupid to even debate with you.

 

@durva

Hispanics come here and take jobs because they have skills. They can build houses. Do they rely on generational wealth.

Black kids don't learn how to do ****. That's what continues the cycle of poverty

You don't know what you're talking about bro. My dad retired from the post office. I have a cousin in law who retired from UPS. Those are more labor intensive than the trades. What's labor intensive about being an electrician?

 

That's why you keep begging for my attention? Others are engaging my argument so go away and let the adults talk

 

Hispanics also have low median wealth in this country. Just marginally higher than median black wealth and signficantly lower than median white wealth.

And it makes sense. Most of the population pool of Hispanics came from poor countries going through some type political and economic turmoil and unlike Asian countries, didn't have that massive selection filter such as requiring student visas or h1b1 visas with a ocean that limits cheap labor migration.

 

Intellectual post? You said predatory lending is proof redlining isn't real. Redlining is denial of federally regulated FHA loans in areas systemically denied to black families with the funds to afford it. FHA loans don't have the same predatory written contracts to them that finding a home loan from a private backer could.

So by enforcing redlining, you're limiting black communities to areas where property value isn't going to go up in the same value white owned neighborhoods are, subject them to worse living conditions by using shoddy materials like lead paint, force them to pay monthly mortgages where the contract to get the home takes advantage of the home owner increasing their likelihood to default ruining their financial lives further unlike an FHA backed loan and also subject them to more police stops than non-redlined districts. And since property value doesn't go up the same rate as higher income neighborhoods they were denied, they are subjected to taking their children to worse run schools whose funds are allocated primarily from property taxes at least in the state of Texas. Since they live in a poor neighborhood by design, the taxes collected are paltry compared to richer areas of town, meaning staff get paid less, resources used to help teachers teach better are less available or non-existent and children receive worse educations than richer areas. These children then go onto become future adults lacking the same skillset that richer areas of town are afforded as a result. How is none of this systemically designed to hurt black and Hispanic communities?

And again predatory lending practices are still rampant in 2021, primarily targeted at poor black and Hispanic communities. Our state legislators are aware of this and haven't actually passed into law any regulations to protect fellow Americans. Instead, culture war **** about taking away people's hamburgers and a faux border wall crisis again aimed at generating suspicion against the Hispanic community that lives in Texas. How is that not systemic? You think you're being intellectual by saying predatory lending in 2021 is proof redlining is a thing of the past? That's your big brain argument? Shitty troll.