Saturday, April 10, 2010

Parable of the Sub-prime Negro

As the son of a real estate broker, I cannot help but sympathize with home owners now losing their property as a result of ignorance and unscrupulous brokers and lenders. For most of my young life, I used to see Mom robbing Peter to pay Paul, partly the result of renters who refused to pay rent, and sometimes Mom would overstretch herself in speculating on buying and selling property.

In the 70s, the high interest rates knocked nails in her coffin, in the 80s Crack came to seal her doom when renters no longer bothered to pay rent so she was unable to meet the mortgages on her property--in short, after leaving the projects to live in a black bourgeoisie neighborhood, she died broke.

We have a real tragedy on our hands if it is true 50% of the Blacks who've bought homes recently did so through the sub-prime market and many will likely lose their property and perhaps become homeless. And we are not talking about poor ghetto blacks but many middle class blacks who somehow outsmarted themselves.

I know of people forced to move out of their mini mansions and condos into homes of relatives. Some are hiding their Humvees and SUVs, and of course this is affecting family relationships, even leading to separation and divorce since so many marriages are fragile at best, so any added tension will tip the scale.

Imagine the normal insecurity blacks suffer in this white supremacy society, now add the stress of a dead real estate market caused by the tricknology of shady brokers and lenders. During this holiday season, we pray for those persons and families who shall be victims of partner violence, if not street violence, as many desperate ones will murder and rob to enjoy the white supremacy Xmas.

Yes, we hope persons will exercise anger management as tempers flair and alcohol and drugs are consumed fanning the flames of our visit with Santa. Of course, domestic violence shall reach its climax on Superbowl Sunday when many wives and partners will be victims of irate males who go berserk when she stands in front of the tv screen for attention.

So, to you all, buyers be aware and lovers please care.
--Marvin X

No comments:

Post a Comment