News

[Sapphire]

My older brother says they do a cycle effect where they use black families in poverty to run the prices of an area down so the banks can buy up all the housing/land and then start pushing them out by establishing businesses and housing too expensive for them to afford. They tend to focus on areas just outside major cities. They will start pushing more drugs into the area and crime rates go up. These people representing banks will offer just enough money for a property to make it seem worth it to enough people, many will take the money. Once they start rehab on the housing and buildings, the prices go up. Then they move in fancy white-ass businesses to drive the property costs even more. It gets to a point where the black families that lived there for years can't afford it and are forced into less safe and more unstable environments with rundown housing, bad plumbing, horrible utility costs from outdated and unkempt apartments...

Anyone ever hear of this? If this is true, why is no one talking about this?

 

[cjg]

I've heard of the banks having a hand in the buying after prices are depreciated, but I'm not so sure if they force the cycle. Possibly 🤔

Ideally, we should purchase and hold on to it. I understand the historical and background reasons, but Istrongly that housing ownership is tied to the wealth gap ...

Yeah, the banks, pharma companies, govt in general ... Is all a shady affair. All this adds to case for reparations.

 

[RCNAL]

The old term from the 60s and 70s is called 'Block busting' That strategy or a similar one has been used for decades now.

 

[Mud City Savage]

Oh I believe it. Can't say I've seen it myself, but I can see some places doing exactly that. I'm always reminded of when predominantly poor areas are used for expansion reasons, like building a hotel, new apartments, etc. They then push everyone out of the area to build fancy apartments that wouldn't be used for affordable housing.

I can see that happening often these days.

 

[GwynShivers]

I've heard of the banks having a hand in the buying after prices are depreciated, but I'm not so sure if they force the cycle. Possibly 🤔

Ideally, we should purchase and hold on to it. I understand the historical and background reasons, but Istrongly that housing ownership is tied to the wealth gap ...

Yeah, the banks, pharma companies, govt in general ... Is all a shady affair. All this adds to case for reparations.

Blacks are RED LINED by the banks & the neighborhoods that are majority Black are GENTRIFIED.
Whites buy the area up cheaply priced, then develope, sell & rent the area at a price only they can afford, while Blacks end up homeless or in an impoverished crime & drug infested area.
When I say THEIR TIME IS UP, I mean precisely that! 💯🤬

 

[MarleyK20]

It is true and it's old news. Nobody does anything about it. Nobody cares. It's Blacks so it's business as usual. It was a huge story in Georgia a few years ago about this. Drugs were pushed in, cops were sent in, the city devalued the property, pushed residents out, then they flipped the community and gentrified it. It happens so frequently it's not even funny at this point.

 

[Sapphire]

The old term from the 60s and 70s is called 'Block busting' That strategy or a similar one has been used for decades now.

Oh yeah, I have heard of this term before but no one talks about it. I guess people just feel like nothing can be done at this point. I think of black communities got together and worked together, they wouldn't be able to do this so easily. Interesting that it started in the 60s and 70s, when drugs started getting pushed into cities, feminism blew up, and all that hippy nonsense was all over.