Real Estate Blog

Racial segregationists continue to exploit minorities in growing numbers, and minority home owners continue to be steered to  minority-dominated neighborhoods where real estate does not appreciate as quickly as in majority white neighborhoods, according to the National Fair Housing Alliance. Housing discrimination complaints to state, federal and nonprofit agencies rose 8.6 percent in the past year, climbing to 27,319 in 2004 from 25,148 in 2003, according to the group.

"Some commentators say integration has failed. I say integration has yet to happen," declared Shanna L. Smith, NFHA president and chief executive.

Lending figures due to be released later this week  will answer the group’s concern that there are discrepancies between loan rates offered to white and to minority home buyers.

While The U.S. Department of Housing and Urban Development engages groups nationwide in events marking Fair Housing Month, the White House is working to purge numerous economic development projects, derail a rural housing program, and move significant anti-poverty initiatives into the Labor and Commerce Departments. Housing Budget Facts:

"Cuts on domestic spending come at a time when city budgets are severely challenged and cities have major community and economic development needs. The U.S. Conference of Mayors issued a statement that they are strongly concerned the consolidation is being used as a way to cut needed resources.

" Cities have become dependent on HUD’s development programs, especially the Community Development Block Grant, and use these grants for clinics, recreation centers, day-care facilities, literacy programs, job creation, stimulation for private investment, and revitalization of distressed communities. With housing and property values skyrocketing, the need for such programs for low-income families has never been greater.

" The budget would eliminate $260 million in economic development projects earmarked for this year by lawmakers and HUD could ultimately lose a quarter of its $31 billion budget. Some 817 HUD community planning and development employees, along with those employed because of financial resources HUD provides to stimulate business, could be in jeopardy of losing their jobs.

" The administration proposes to consolidate 18 community development programs from various agencies into a new $3.7 billion economic development program for distressed communities to be overseen by the Commerce Department4, generally see to be more receptive to business needs than the needs of the poor.

" Don Plusquellic, the mayor of Akron, Ohio, who is president of the United States Conference of Mayors, said: ‘The new proposal in unconscionable. It will cut programs that help the poorest and the neediest’."