The Disparity between Black and White Homeownership (30%) is the Widest Gap in Over a Century - but Not Wide Enough for Trump: Hud StrawBoss Investigates Wells Fargo Over Its Policies to Help Blacks

ACCORDING TO THE FUNKTIONARY:

Straw-Boss – a Sambo who is appointed a certain oversight role for the white power structure Overseer. It is the job of the Straw- Boss to establish a formal organization to effectively and systematically carry out the wishes of the racist white supremacist power matrix while serving his own personal needs and ends through patronage power. 2) a ranking Snigger. 3) Toby. 4) “Safe-House Negro.” 5) responsible (to the white racist supremacist ideology) Negro. 6) the gatekeeper for Black professional positions gained through (acquiesced to) various sexual positions. 7) Pork Chop Boy. (See: McNegro

From [HERE] Donald Trump’s Department of Housing and Urban Development is waging war on Black homeownership.

Scott Turner, the Christian nationalist former NFL player turned executive tapped by Trump to run the department, has opened an investigation of Wells Fargo over the company’s efforts to boost Black homeownership. And his remarks about the probe, the existence of which was revealed by The Wall Street Journal, underscore that this is fundamentally about conservatives’ racist assault on virtually any program they think falls under the umbrella of diversity, equity and inclusion initiatives, or DEI.

The investigation is being framed as an inquiry into whether Wells Fargo violated the Fair Housing Act with policies meant to boost Black homeownership, policies that came after Wells Fargo reached a massive settlement with the Justice Department in 2012 over allegations of racial discrimination against Black and Hispanic housing loan borrowers. A decade after the settlement, a Bloomberg report suggested that discriminatory behavior had continued at Wells Fargo.

But Turner, who is Black, falsely claimed that Wells Fargo has engaged in wrongdoing merely by considering race.

“Even if Wells Fargo did not violate the law, its practice of dividing Americans based on race is immoral, unethical and un-American,” he’s quoted as saying in the Journal’s report. “Wells Fargo and all of its employees that engaged in race-based decision-making should be ashamed of themselves.”

In deranged MAGA parlance, addressing the impacts of racism amounts to “dividing Americans based on race.” [MORE]

In reality, the latest data from the U.S. Census Bureau shows that for nearly three-quarters of non-Hispanic white households in this country, homeownership is a reality. For Black Americans, however, it remains a dream for the majority; only 43 percent of Black households live in a home they own. This homeownership gap—a 30 percentage point difference between non-Hispanic white and Black homeownership rates—is as large as it has been in 120 years. It is also intrinsically linked to the growing wealth gap between Black and white Americans, says Vanessa Perry, a professor at the GW School of Business. White households have a median net worth at least 10 times that of Black households, according to a report she co-authored in 2020 for the National Association of Real Estate Brokers (NAREB). 

“The wealth gap is really the homeownership gap,” she says. “We’re seeing young Black people who graduate from college and are able to get good jobs but are still falling behind their similarly situated white counterparts because their parents and grandparents weren’t homeowners and didn’t accumulate the same kind of wealth.” [MORE] and [MORE]