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How White America Prospers

Regardless of class status, in free market/free enterprise Americana, even in the midst of foreclosure and recession:

From the Sacramento Bee:

“Today, the National Fair Housing Alliance (NFHA), announced a federal housing discrimination complaint against Bank of America Corporation, Bank of America, N.A., and BAC Home Loan Servicing, LP. This complaint is the result of an undercover investigation of Bank of America that found the financial giant maintains and markets foreclosed homes in White neighborhoods in a much better manner than in African-American and Latino neighborhoods in Chicago, Milwaukee and Indianapolis.

Today’s complaint was filed with the US Department of Housing and Urban Development and is part of an amended complaint NFHA and seven member agencies filed October 10 that looks at how Bank of America has differently maintained and marketed properties in White, African-American, and Latino neighborhoods across the country…The investigation in 13 cities of 505 foreclosed homes owned, serviced or managed by Bank of America demonstrates that it has engaged in a systemic practice of maintaining and marketing its foreclosed, bank-owned homes (also known as Real Estate Owned or REO properties) in a state of disrepair in communities of color while maintaining and marketing REO properties in predominantly White communities in a far superior manner.  The investigation has evaluated Bank of America REO properties in 13 cities including Atlanta, Charleston, SC, Chicago, Dallas, Dayton, OH, Grand Rapids, MI, Indianapolis, Miami/Fort Lauderdale, Milwaukee, Oakland/Concord/Richmond, CA, Orlando, Phoenix and the Washington, DC area.

Communities of color continue to experience foreclosure rates twice that of White communities and continue to see their REO properties left to deteriorate and sit vacant.”