Black homeownership rate barely improved since 1970

One marker of success in the United States is homeownership, particularly in the suburbs. Yet, the Black homeownership rate has not increased much over the last five decades:

After this chart at the top, the rest of the article is an in-depth look at race, lending, and housing in the Los Angeles area. While some of the story involves factors pre-1960s, there is also much after the Civil Rights Movement that has limited homeownership. All groups on the chart had higher homeownership rates into the early 2000s but conditions changed for Blacks such that they experienced a decline.

All of this makes the recent efforts in Evanston, Illinois, just north of Chicago, all the more interesting. The discussions of reparations there have settled on providing funds for housing. From the City of Evanston FAQs:

In July 2019, the Equity and Empowerment Commission held community meetings to solicit feedback from community members on what reparations would look like for the City of Evanston. Affordable housing and economic development were the top priorities identified during those meetings. A report was submitted to the City Council for consideration and was the basis for  Resolution 126-R-19, “Establishing the City of Evanston Reparations Fund and the Reparations Subcommittee.”

Reparations, and any process for restorative relief, must connect between the harm imposed and the City. The strongest case for reparations by the City of Evanston is in the area of housing, where there is sufficient evidence showing the City’s part in housing discrimination as a result of early City zoning ordinances in place between 1919 and 1969, when the City banned housing discrimination.

View the Evanston Policies and Practices Directly Affecting the African American Community, 1900 – 1960 (and Present) draft report written by Dino Robinson of Shorefront Legacy and Dr. Jenny Thompson of Evanston History Center.

With housing underlying much wealth in the United States, it is important to address this issue in the long run.

World War I reparation payments from Germany to end soon

From the dustbins of history, CNN reports that Germany will on Sunday (October 3) make its last reparations payment from World War I. Here is a brief history of the payments:

The initial tally in 1919, according to the German magazine Der Spiegel, was 96,000 tons of gold but was slashed by 40 to 60 percent (sources vary) a few years later. The debt was crippling, just as French Premier Georges Clemenceau intended.

Germany went bankrupt in the 1920s, Der Spiegel explained, and issued bonds between 1924 and 1930 to pay off the towering debt laid on it by the Allied powers in 1919’s Treaty of Versailles…

Germany discontinued reparations in 1931 because of the global financial crisis, and Hitler declined to resume them when he took the nation’s helm in 1933, Der Spiegel reported.

After reaching an accord in London in 1953, West Germany paid off the principal on its bonds but was allowed to wait until Germany unified to pay about 125 million euros ($171 million) in interest it accrued on its foreign debt between 1945 and 1952, the magazine said.

In 1990, Germany began paying off that interest in annual installments, the last of which will be distributed Sunday.

I had no idea that these payments were still being made. I don’t know the answer to this: are reparation payments between nations still a common method for helping to rectifying the wrongs of war?

It is also a reminder of the major consequences of World War I, a war that gets a lot less attention in the United States due to a smaller US role and a majority of the fighting taking place away from American shores.