A reoccurring pattern has been perpetuating the wealth gap between black and white Americans. In order for it to change something drastic needs to happen, aimed at improving the quality of life for low to middle-class black Americans. The authors Oliver and Shapiro in Black Wealth / White Wealth argue that black disadvantages started with their historical segregation in neighborhoods suffering from underinvestment and lower prices (Oliver, 212). Black Americans receive less in inheritance and gifts from parents for down payment and end up having to wait longer to buy their first homes. This resulted in black Americans having less home equity. Home equity is one of the most important wealth components for the average American family. Consequently,
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This would be favorable for the American society because currently the country is divided. Typically, white and black Americans live opposite sides of each city. Another quality of the previous proposal is that black American families would live in safer neighborhoods, surrounding them with better influences, and allowing their kids to attend higher ranked public schools. Children attending a better school allows them to receive a greater education. The weakness of the previous proposal is the substantial amount of time it would take for black Americans to generate wealth. If they are renting the house they are not generating any wealth. Another weakness is that people will not want to own homes in the chosen neighborhood because they fear of their home depreciating value. Homes dropping market value because living around black Americans has happened before, would need to reinsure home buyers it would not happen again. Redlining becomes a serious threat if the government is in charge of choosing the homes, we cannot trust them to find the locations for this new …show more content…
This would have to be a government funded program. Increasing the taxes will only be worst for the low and middle class families, therefore I propose taking half of the applicants from the Section 8 program. My proposed housing program would take half of the funds of Section 8. Over the course of the years, hoping diverse cultures will mix in wealthy neighborhoods. This will cause the wealth gap to decrease, and we can just offer the housing program and eliminate Section 8. Section 8 is currently helping a lot of families, but the homes that accept the housing vouchers are predominantly in economically unstable
This would be favorable for the American society because currently the country is divided. Typically, white and black Americans live opposite sides of each city. Another quality of the previous proposal is that black American families would live in safer neighborhoods, surrounding them with better influences, and allowing their kids to attend higher ranked public schools. Children attending a better school allows them to receive a greater education. The weakness of the previous proposal is the substantial amount of time it would take for black Americans to generate wealth. If they are renting the house they are not generating any wealth. Another weakness is that people will not want to own homes in the chosen neighborhood because they fear of their home depreciating value. Homes dropping market value because living around black Americans has happened before, would need to reinsure home buyers it would not happen again. Redlining becomes a serious threat if the government is in charge of choosing the homes, we cannot trust them to find the locations for this new …show more content…
This would have to be a government funded program. Increasing the taxes will only be worst for the low and middle class families, therefore I propose taking half of the applicants from the Section 8 program. My proposed housing program would take half of the funds of Section 8. Over the course of the years, hoping diverse cultures will mix in wealthy neighborhoods. This will cause the wealth gap to decrease, and we can just offer the housing program and eliminate Section 8. Section 8 is currently helping a lot of families, but the homes that accept the housing vouchers are predominantly in economically unstable