Quote:
Originally Posted by dc_denizen
imagine its 1955. you're a black detroit factory worker moving to a new single family home. thanks to racism, malign incentives, and white flight, your house declines in value 80% over the next 10 years vs what you paid, for no fault of your own. If you were white, your house would still be worth what you paid, at least.
this is one category where I agree that some form of reparations to black people are needed.
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That analysis is not quite it.
If you had been a white homeowner in a neighbourhood touched by flight but chose to ride it out, you'd have lost 80% of your value, and if you'd been a black homeowner who got into a neighbourhood with no decline/white flight, your home would have retained its value.
Assuming of course that either of the scenarios I depicted was common. (I realize they weren't.)