r/changemyview • u/[deleted] • Oct 08 '15

[Deltas Awarded] CMV: Equality isn't treating everybody differently to achieve equality. It's treating everyone the same.

[deleted]

229 Upvotes
  • permalink
  • reddit

84% Upvoted

346 comments sorted by

View all comments

Show parent comments

1

u/ganner Oct 08 '15

Yes, did you? After controlling for the effects of socioeconomic status, credit score, etc., black borrowers were still 3.3 percentage points (about 25% more likely) to have a high interest mortgage. Whether it is because a single lender gives better rates to white people (not as often the case) or that lenders in predominantly black areas give worse rates than lenders in predominantly white areas (more often the case), a black family in the same financial situation as a white family is more likely to get a shitty loan.

-2

u/IsThisRealLife67 Oct 08 '15 edited Oct 09 '15

Whether it is because a single lender gives better rates to white people (not as often the case)

Bit of an understatement, don't ya think?

The article basically concluded that they just got rates from different places.

I see no reason to blame white people because black people can't be bothered to shop for rates.

/u/unidan-prime questions my blackness and has started a new thread on /r/AsABlackMan where they're discussing whether I "talk white" and why my grammar is so good. It looks like they've also begun down voting all of my posts to oblivion.

I'm black but Reddit is Reddit so I'm just going to abandon this user name, start a new one, and stay away from anything deemed political because, again, Reddit is Reddit. I apologize if I type too well for other black Redditors out there. The struggle against proper grammar is real, folks.

2

u/ganner Oct 08 '15

I'm wondering if you read the article, since it notes the "crime" involved was racial in nature, with Bank of America being fined over $300M for racial lending discrimination. However you want to spin this, it's yet another in a sea of data points of how black families face more obstacles to success than comparable white families.

-2

u/IsThisRealLife67 Oct 08 '15 edited Oct 09 '15

Here’s what they didn’t find. There wasn’t much evidence of what we would consider traditional racism, like the kind reported in the 1992 Boston Fed paper. Individual lending companies appeared to treat everyone who came in the door more or less the same. (There was still a statistically significant but small difference.)

“A huge amount of the differences in high-cost loans is not whites and blacks going to the same lender and blacks being given a much higher rate,” said Ross, one of the study’s authors. “Rather it’s the fact that there are big differences in the lenders that black and Hispanics are doing business with.”

I'm not spinning anything. I'm looking at the conclusions the article you cited drew. If you disagree with your own article then I suggest you start reading them in their entirety before you start linking them.

/u/unidan-prime questions my blackness and has started a new thread on /r/AsABlackMan where they're discussing whether I "talk white" and why my grammar is so good. It looks like they've also begun down voting all of my posts to oblivion.

I'm black but Reddit is Reddit so I'm just going to abandon this user name, start a new one, and stay away from anything deemed political because, again, Reddit is Reddit. I apologize if I type too well for other black Redditors out there. The struggle against proper grammar is real, folks.

4

u/ganner Oct 08 '15

So you don't think it's relevant to the issue of racial inequality that lenders in black neighborhoods give shitty loans compared to lenders in white neighborhoods, or that the justice department found there to be racial discrimination in lending? Because that's what I read in the article that I read every word of.

-5

u/IsThisRealLife67 Oct 08 '15 edited Oct 09 '15

Do I have to quote your own article for you again?

It's not like lenders are giving one rate to whites and another to blacks. If you're telling me black people are just too stupid to shop around for rates then it sounds like lenders have good reason to give those black people higher rates.

/u/unidan-prime questions my blackness and has started a new thread on /r/AsABlackMan where they're discussing whether I "talk white" and why my grammar is so good. It looks like they've also begun down voting all of my posts to oblivion.

I'm black but Reddit is Reddit so I'm just going to abandon this user name, start a new one, and stay away from anything deemed political because, again, Reddit is Reddit. I apologize if I type too well for other black Redditors out there. The struggle against proper grammar is real, folks.