Racism made it hard for black families to build wealth

Author: IwantRooseveltagain

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In 1965, the year I was born, so not exactly ancient history, a football star on the Kansas City Chiefs could not find a house to buy in the suburbs of Kansas City. There were plenty of houses for sale, the player made good money, and there wasn’t anything wrong with his credit score.

The problem was he was black.


“Future Hall of Fame linebacker Bobby Bell says he looked at more than 200 houses for his family in the mid-1960s, getting denied by realtors and bankers who refused to underwrite his mortgage. Head coach Hank Stram, who was White and lived in a planned suburb in Prairie Village, Kan., made calls on Bell’s behalf to no avail. “You couldn’t do anything,” Bell said. “They didn’t want to take you.”

“players proposed building an integrated apartment complex that featured central air conditioning and a pool shaped like a football. The city council denied the plan over zoning issues”

“Bell eventually bought a house in Prairie Village in 1968, after a White man purchased it and rented to Bell until he could find a willing mortgage underwriter. Shortly after Bell moved in, a White neighbor showed up at his door with a flier organizing a protest against him”



-  When my father and in-laws die in the coming years I will inherit over a million dollars worth of real estate. Imagine the effect not being able to get a mortgage for a house has had on generations of black families. It’s a disgrace. And this is why reparations for black families should be explored.
Greyparrot
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Why did a black man want to live around a bunch of racists? Sounds weird.
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Guess what?

White people can't afford houses either. 

You do know that white males, in high school are doomed, because it would take a miracle for us to get into a good college nowadays. 
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Why did a black man want to live around a bunch of racists? Sounds weird.
It would sound weird to a racist. But the black guy had a job in the area and he wanted to live in a new home near his work.


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@YouFound_Lxam
White people can't afford houses either. 
No dummy, you’re not getting it. The black guy could afford it, he couldn’t buy a house because either no real estate agent would sell to him or no bank would give him a mortgage - because he was black.

Imagine when you’re a grownup and no one would sell to you or give you a mortgage because you’re over 6 feet tall and then you would have an idea what was happening.
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No dummy, you’re not getting it. The black guy could afford it, he couldn’t buy a house because either no real estate agent would sell to him or no bank would give him a mortgage - because he was black.
Are you trolling?

Where does it say, because he was black? 

I know plenty of white guys who can't get a good real estate agent. 

Also in 1965, as a famous NFL linebacker, I don't think you would have a racism problem with that kind of stuff. 
Keep in mind, this dude was 6'4 and 228 lb.'s.
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@YouFound_Lxam
Where does it say, because he was black? 
Did you read the article? 

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@YouFound_Lxam
Imagine some racist saying you can't own a home because you have to pay reparations just because you were born with white skin.
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@YouFound_Lxam
I know plenty of white guys who can't get a good real estate agent. 
You’re still not getting it dummy. The real estate agents were refusing to write up an offer to buy a house in certain neighborhoods. White neighborhoods.

Get it?

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Imagine some racist saying you can't own a home because you have to pay reparations just because you were born with white skin.

Oh ya, that’s how it works, whenever the government passes a budget item they increase the taxes on everyone to pay for it.
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@YouFound_Lxam
Are you trolling?
I’m trying to educate you dumb rednecks because I know you would never see this story on the media you consume.

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@YouFound_Lxam
Also in 1965, as a famous NFL linebacker, I don't think you would have a racism problem with that kind of stuff. 
Keep in mind, this dude was 6'4 and 228 lb.'s.

You don’t think that huh? Well that’s because you are clueless and uneducated.
And being large doesn’t help with racism other than racists will likely be afraid to voice their racist thoughts to the big black guy.

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@YouFound_Lxam
I'd imagine Elon Musk would be told to take a hike if he tried to buy the NAACP headquarters or the SPLC due to his skin color.

Usually it's hard to get skin racists to sell to you at any price if they think your skin sucks.
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I'd imagine Elon Musk would be told to take a hike if he tried to buy the NAACP headquarters or the SPLC due to his skin color.
you would imagine that. Because you are an ignorant, racism denying apologist 
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You don’t think that huh? Well that’s because you are clueless and uneducated.
And being large doesn’t help with racism other than racists will likely be afraid to voice their racist thoughts to the big black guy.
Well, I would think that if a 6'4 228 lb. black guy was walking down the street and a white guy called him a n***** then he could handle himself.

Or he could huddle into a corner and call himself oppressed. Either way works. 


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@Greyparrot
Exactly lol. 
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Average salary of a football player in 1965 was 50k a year 

Besides the low salary they were recently college graduates with no credit score and in a job that is very unstable. 

I don't doubt racism was a small factor but let's not lie and say real estate agents are turning down $20k commission checks out of some sort of hatred
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Afro-Murphy's law: If something can be racist, then it will be racist.
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I don't doubt racism was a small factor but let's not lie and say real estate agents are turning down $20k commission checks out of some sort of hatred
Yes, they did, dummy.

What is it about white men with small paychecks that make it impossible for them to acknowledge the undeniable systemic racism that has existed in this country for over 250 years?

You’re not getting it - the agents refused to write an offer for their black clients

Banks refused to even consider giving them a mortgage for houses in white neighborhoods.

It’s a fact. This happened in America. And other forms of racism took place in this century like steering blacks to subprime mortgages even though they qualified on paper for conventional mortgages.

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@Wylted
What is it about white men with small paychecks...
Probably because they don't have the same level of privilege as others despite their skin shade. Normally I don't care about rich people wanting to tax rich people because rich people feel guilty for being lucky, but the rich haven't been taxed since the lobbies took over DC 70 years ago in a bloodless coup.

It's all the catharsis without actually having to do anything.
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70 years ago in a bloodless coup.
70 years ago? In the 1950s when the top tax bracket had a 90% tax rate?
No, they took over starting with the Regan Administration 

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@Wylted
90% tax rate?
Yep. That was how the lobbies took over. The lobbies promised to sell campaign finance to DC politicians in exchange for tax exemptions. The politicians all sold out, and haven't looked back since.

It's a well known and documented fact that nobody paid 90 percent.
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It's a well known and documented fact that nobody paid 90 percent.
The rate only applied to income over a million dollars back then. There were tax rates on income under that level that were much lower. Those rates plus deductions that lowered the amount of net taxable income caused the overall taxable rate to be below 90%. But if you had taxable income over 1 million it was taxed at 90% This was necessary to pay for WWII.

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Yes, they did, dummy.
Yeah broke ass real estate agents who on average get 2 or 3 commission checks a year are turning down 20k checks. Nice try.

Banks refused to even consider giving them a mortgage for houses in white neighborhoods.
Banks do a credit check not a race check.

Are you seriously confused about why somebody fresh out of college making 50k a year in the NFL with an average career length of 3 years is struggling to get a mortgage?

Tell me you are trolling and not legitimately mentally retarded and don't realize that banks do credit checks
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I can tell you what happened. This idiot saw the word NFL and thought millionaire athletes were being turned down for mortgages. 50k was the average NFL income back then, a lot of them made significantly less. Most probably even made less than the average. I used to occasionally run into Joe Namath and talk to him. The NFL didn't pay him shit. He was the best quarterback in the NFL and his money came from stuff he did after retiring. 


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@Greyparrot
This article insinuates Garret made less than $10k a year and this genius is wondering why he struggled to find housing https://playerswiki.com/mike-garrett
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It's not the having no money part. They let white people buy houses with no money. It was definitely his skin color
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A house in the Kansas City suburbs probably cost $5,000 then. So he’s making double what the house costs. That would be like you making 600k today.

My parents spent 22k to build a new custom house near the water in Massachusetts a few miles north of Boston in 1968.

Do you think before you speak? Did you think - is 10k a lot of money in 1965 Kansas City? 
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@PREZ-HILTON
In 1965, CBS bought broadcasting rights for 36 million. Compare that to the 3 billion just ESPN pays today.
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@PREZ-HILTON
Oh...so he was getting 5k a year to buy a nice house, probably 2x the average price of the house back then so around 45k....

what did you say...NFL careers were 3 years average back then? Ok. Math fits. Let's just ignore the obvious fact that banks do not give a flying fuck who lives where since banks are almost never in the same neighborhood as the houses they financially cover....