How might the history of redlining and racist lending practices contribute to the cycle of poverty for many black families and o

Question

quester [9]

3 years ago

6

How might the history of redlining and racist lending practices contribute to the cycle of poverty for many black families and o

ther families of color?

English

1 answer:

xxTIMURxx [149] · Answer 1 · 2022-02-16T12:22:21+03:00

Answer:

As early as the 1930´s Great Depression, redlining racist practices had federal housing lending programs limiting loans for African American neighborhoods.

Explanation:

Minority groups had higher interest rates than those offered to white people, and sometimes possible foreclosures forced them to take more loans with even higher interest rates, reinforcing the cycle of debt and poverty.

This discrimination in access to buy land lasted until the 1970s and is still present in the prevailing real estate market.