by James A. Bacon
It’s hard to keep up with the twists and turns of what progressives deem to be racist these days.
Once upon a time, gentrification was considered racist because the phenomenon of White people moving into a neighborhood increased local property values, which increased taxes on long-time African-American residents and pressured them to move out.
But that’s old think. Now the problem isn’t that property values in gentrifying neighborhoods are too high. In the City of Richmond, property values in majority Black neighborhoods are too low!
“An under-valued home limits the owner’s ability to access credit through home equity and limits potential profits when the owner decides to sell,” concludes a new report, “Policy Approaches to Racial Disparities in Neighborhood Home Values and Related Risks of Displacement,” published by a nonprofit group, Housing Opportunities Made Equal of Virginia.
“The disparities are the result of a long history of racial discrimination that has adversely affected neighborhoods of color in Richmond,” the report says.
Got that? If appraised property values are too high, higher property taxes drive out Black residents. That’s racism in action. If property appraisals are too low, Black residents are deprived of credit, and they get less for their houses than they would have otherwise. That’s racist, too. Damned if you do, damned if you don’t. Everything’s racist, folks. Everything! (more…)














