Gov-FHA Helped Whites Create Wealth & Guaranteed $0 Wealth for Blacks
FHA’s New Deal housing program purposefully created intergenerational wealth for whites via suburbsn home ownership & $0 for Blacks relocated into public housing.
Gillmor Homes public housing project where Freddie Gray lived was opened Sept 1942 by FHA. 1930’s, the gov created segregated public housing projects for Blacks across the country it created suburbs…close to jobs, etc. for whites….giving them loans to buy houses while denying loans to Blacks. In 2015, those suburban homes are worth more than $500,000…government created wealth for today’s white suburban children & grandchildren. Whereas, the government’s purposefully created & strategically located public housing projects…isolated & distanced from jobs, etc…assured today’s Black residents’ children & grandchildren, like Freddie Gray, $0.00 wealth…according to the Economic Policy Institute.