Black People : Redlining in Philly

Discussion in 'Black People Open Forum' started by jamesfrmphilly, Jun 24, 2005.

  1. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    http://www.philly.com/mld/dailynews/news/opinion/11972927.htm

    Posted on Fri, Jun. 24, 2005
    Letters |
    RACE, REDLINING & THE OTHER 'R' WORD


    ON THE LAST day before recess, City Council unanimously authorized itself to hire the National Community Reinvestment Coalition to conduct research and to produce a study on lending disparities by city depositories.

    In NCRC's last testimony before Council's commerce and economic development committee, it was revealed that Philadelphia ranked dead last of the top 100 metropolitan cities with regard to small business lending to minority census tracts.

    The new NCRC research seeks to study the lending patterns of the financial institutions that are authorized to hold city deposits - deposits which amount to hundreds of millions of dollars. It will explore lending disparities for home mortgages and home improvement loans in addition to small business lending patterns. None of us should be surprised if the data shows significant disparity based on race.

    U.S. Treasury reports have found that, on average, communities that were between 50 and 80 percent minority receive less than 10 percent of all small business loans nationally. That national trend is mirrored in the Philadelphia region, where my Capital Access Report revealed that less than 10 percent of small business lending is done in communities that are more than 20 percent black.

    The Treasury Department consequently established and invested in the Community Development Financial Institutions Fund to provide financial intermediaries with the resources to address lending disparity and underserved markets. A local CDFI fund in the hundreds of millions of dollars is sorely needed.

    Ironically, the charge to address lending discrimination and bank redlining has been hampered by the desire to end such discrimination. The original intent of the Equal Credit Opportunity Act was to prevent lenders from collecting race data from applicants seeking business loans in order to protect the civil rights of that applicant - but the de facto effect of the Equal Credit Opportunity Act has been to mask lending patterns to racial minorities seeking business loans.

    Consequently, the U.S. Home Mortgage Disclosure Act was amended in the early 1990s to allow home mortgage applicants to voluntarily supply race information which has enabled the Federal Financial Institutions Examination Council to create aggregate and disclosure reports that track home mortgage lending patterns by race.

    So what does the City Council of Philadelphia hope to gain by hiring the National Community Reinvestment Coalition to conduct research on several lending disparities by city depositories based on race?

    In June 2005, the issue of race and redlining are real - and the other "R" word is either reinvestment or reparations. Take your pick - and feel free to use your own words.

    But we all deserve an equal opportunity to live the American Dream. Unfortunately, Philadelphia not only mirrors the national disparity in economic opportunity, we may still be dead last in offering it. Reparations is not about slavery - but the continuum of racial discrimination and economic disparity. Reinvest in equal opportunity!

    W. Wilson Goode Jr., City Councilman-at-large
     
  2. Isaiah

    Isaiah Well-Known Member MEMBER

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    This has been happeining in the United States for a long time... In fact, it is from the very seat of our government, it's top levels, that housing discrimmination against AFrican Americans was made acceptable... Simply read the web page down below, and you'll see how it was done... Very instructive, educational, and so easy to read, even a child would understand... Why our politicians cannot is beyond me...

    http://prorev.com/blackcities.htm

    Peace!
    Isaiah
     
  3. AZuberi

    AZuberi New Member MEMBER

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    Remember what "Society Hill" in downtown Philly was like, before what it looks like today? Devoid of funding. In those days, you couldn't give away a red brick in that neighboorhood. Later on, economic empowerment arrived and bypassed the entire black community across the entire city, and Society Hill was born. Multi-million dollar row houses, rooftop swimming pools, horse carraige rides to some of the cities toniest eats nearby, and the list goes on. In conclusion, the size of the pie doesn't change, only the number of slices do.
     
  4. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    Society Hill was a traditional black neighborhood dating back to the civil war and beyond, i think.
    white folk decided to "gentrify" it.
    thirty years later there are no black people left.
    i lived there until 1997 when i could not keep up and moved to another area.

    now they are gentrifying my new hood.
    it is amazing how the capitol becomes available when the white folk decide it's time to move in.
     
  5. Destee

    Destee destee.com STAFF

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    Seems it's gonna get worse, before it gets better.

    .
    .

    Supreme Court Rules Cities May Seize Homes


    NEW LONDON, Conn. (AP) - Seven homeowners in this small waterfront community lost a groundbreaking U.S. Supreme Court decision Thursday when justices ruled that City Hall may take their property through eminent domain to make way for a hotel and convention center.

    Word of the high court decision spread around Bill Von Winkle's part of town like news of a passing relative. ``Hello?'' he answered his cell phone. ``Yeah, we lost. I know, hard to believe, huh?''

    ``I spent all the money I had,'' said Von Winkle, a retired deli owner, of the properties he bought in the Fort Trumbull neighborhood. ``I sold sandwiches to buy these properties. It took 21 years.''

    The court's decision drew a scathing dissent from Justice Sandra Day O'Connor, who argued the decision favors rich corporations.


    Click Here To Read Entire Article


    .
    .

    If they are doing this to White folk and beach front property ... yall know what we got come'n.

    :heart:

    Destee
     
  6. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    There needs to be an amendment to the fifth amendment. :D
     
  7. happy69

    happy69 Well-Known Member MEMBER

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    Redlining and Gentrification...

    Redlining is this "colorblind" societies way of saying that is where the ****** live, that is where thewhites live, etc...

    To the believers, this is a way to keep discrimination without saying it... they won't ask you your color no more, but they will know by your address...

    The key to fighting gentrification is ownership... they can't move you out, if you own your own dwelling... not yet anyway.
     
  8. OldSoul

    OldSoul Permanent Black Man PREMIUM MEMBER

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  9. panafrica

    panafrica Well-Known Member MEMBER

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    We do need to own the buildings in our neighborhoods, you are absolutely right Happy69. Unfortunately, even if we owned the homes, we can still be moved out with "Eminent Domain". Eminent Domain is the government's (federal, state, and local) right to take possession of your land with just compensation, if it is deemed to be for the "greater good" of the public. Eminent Domain has always existed. Typically people's houses have been taken, or a portion of their property has been siezed to build roads, bridges, etc. However recently houses are being taken under Eminent Domain so that newer, more expensive homes can be built in their place. This is currently happening in Long Branch, NJ.
     
  10. jamesfrmphilly

    jamesfrmphilly going above and beyond PREMIUM MEMBER

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    did you see the supreme court ruling?

    i own my place.
    white guy bought down from me and paid four times what i paid.
    the property tax is based on the "value" of the property as of the latest sales.
    as the "value" of my property increases my tax increases.
    i will be run out when my tax gets too high for me to pay it.
     
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