Tuesday, August 28, 2007

Blacks flee Frisco

I saw the original article first, but comments at Goldstein's place are quite funny. Money quote:

Today, African-Americans across the USA are "suburbanizing" at a rate slightly higher than whites, he says. "As their incomes go up, they move out."

In other words, nobody likes living in a cesspool. What a surprise.

But wait, there's one more quote:

Many blacks here shun buying affordable housing because those homes have "equity restrictions" to keep them affordable, which means they can't be resold at market rates.

So, the government assistance comes with strings attached. What a surprise again. Apropos that, I wonder if applicants to the celebrated assistance program in our own Tracy read the fine print well. I hope they do, for their own sake.


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