In addition to clashes over nondisclosure agreements and policing practices, Sen. Elizabeth Warren and former New York Mayor Mike Bloomberg squared off during Wednesday night’s Democratic presidential debate over the mayor’s past comments regarding discriminatory housing policies.
Bloomberg campaign spokesman Stu Loeser told MarketWatch, “Mike wasn’t in any way supporting redlining and, in fact, fought hard against predatory lending as mayor and helped other cities find ways to keep people in their homes as a philanthropist.” During Wednesday’s debate in Las Vegas, Bloomberg walked back his 2008 comments, arguing that he is “well on the record against redlining.”
Here are some of the lasting effects the discriminatory policy still has on the country’s housing market: Gentrification caused the displacement of nearly 111,000 black Americans between 2000 and 2013. Those lower home prices have also become a double-edged sword in recent years in certain parts of the country, paving the way for gentrification in increasingly unaffordable cities like New York and San Francisco.
People of color still face more difficulty accessing credit In 2016, African-Americans made up 13% of the country’s population, but only received 6% of the mortgages that were originated that year, according to a MarketWatch analysis of Home Mortgage Disclosure Act data that demonstrates whom lenders are serving.
I think mtaibbi said the crisis was from the same
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