Blame Series Bonus: How Federal Policy Created America’s Fergusons
…ite families for about two and a half times national mediate income, or in today’s dollars, about $125,000. That’s a home price that was affordable with an FHA or VA mortgage to working class families, black or white. Many black families could have afforded those homes in the late 1940s and 1950s, but they were prohibited from purchasing them by FHA policy. Today, those homes sell for $500,000 or $600,000. We now have a law, the Fair Housing Act,…
Read More