Your statement that poorer (assumed black neighborhoods) pay a higher tax rate then richer (assumed white neighborhoods) is not always correct. Most structures in Brooklyn are multi-family and a multi-family brownstone in a predominantly black neighborhood in Brooklyn will pay about $8400 a year in real estate taxes and the structure is valued around $4 million. Whereas, a multi-family in a predominantly white neighborhood in Staten Island, Brooklyn or Queens will pay more than double that in real estate taxes, i.e., $18,000 and is valued at about half , i.e., $2 million. Equally as important is that the building in brooklyn will most likely have double the occupancy and utilize much more of the city services.
As it pertains to the mortgages, here again your example may be incorrect. In order to make your example correct, you had to declare that the individual was paying their mortgage always on time. If the individual was paying the mortgage payments erratically then it would work against the applicant and in favor of the renter, simply because the renter's rental payments are not recorded.
If you are interested in correcting the disparity in real estate-"it's age discrimination". The baby boomers created a system of rent control and rent stabilization that steals from one group and gives only to the existing stakeholders old enough to fulfill the requirements. Worse yet, it places the entire baby boomer financial burden on the generation that comes after them. One would think that would be bad enough but the baby boomers get to keep the benefit till death ,pass it on only to whom they want and retain control over all the buildings not yet built, thereby guaranteeing the next generation does not get the opportunity to transition from renter to homeowner.
I often have a knee jerk skeptism when I hear the term structural racism. I have often thought that people too readily use the idea of structural racism to explain social inequities that would be better explained through class disparities. This is a good reminder for me that structural racism is very coherent idea and is necessary for explaining many inequalities in this country that can't be explained through class disparities alone. I do still think it has been overused at times, but it is unfortunate that many people seem to disregard the idea of a structural racism entirely.
Your statement that poorer (assumed black neighborhoods) pay a higher tax rate then richer (assumed white neighborhoods) is not always correct. Most structures in Brooklyn are multi-family and a multi-family brownstone in a predominantly black neighborhood in Brooklyn will pay about $8400 a year in real estate taxes and the structure is valued around $4 million. Whereas, a multi-family in a predominantly white neighborhood in Staten Island, Brooklyn or Queens will pay more than double that in real estate taxes, i.e., $18,000 and is valued at about half , i.e., $2 million. Equally as important is that the building in brooklyn will most likely have double the occupancy and utilize much more of the city services.
As it pertains to the mortgages, here again your example may be incorrect. In order to make your example correct, you had to declare that the individual was paying their mortgage always on time. If the individual was paying the mortgage payments erratically then it would work against the applicant and in favor of the renter, simply because the renter's rental payments are not recorded.
If you are interested in correcting the disparity in real estate-"it's age discrimination". The baby boomers created a system of rent control and rent stabilization that steals from one group and gives only to the existing stakeholders old enough to fulfill the requirements. Worse yet, it places the entire baby boomer financial burden on the generation that comes after them. One would think that would be bad enough but the baby boomers get to keep the benefit till death ,pass it on only to whom they want and retain control over all the buildings not yet built, thereby guaranteeing the next generation does not get the opportunity to transition from renter to homeowner.
I often have a knee jerk skeptism when I hear the term structural racism. I have often thought that people too readily use the idea of structural racism to explain social inequities that would be better explained through class disparities. This is a good reminder for me that structural racism is very coherent idea and is necessary for explaining many inequalities in this country that can't be explained through class disparities alone. I do still think it has been overused at times, but it is unfortunate that many people seem to disregard the idea of a structural racism entirely.