this post was submitted on 23 Oct 2024
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Housing Bubble 2: Return of the Ugly
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Just wait until we find out that Blackstone's algorithms, trained on actual real estate deals, are giving preferential treatment to a man named Dave with bad credit over a woman named Lashawnda with good credit.
The worst part is that there's so much class discrimination that you don't even need to bring race into it to see how broadly fucked it is. I personally have a friend that's an older white guy who the bank wouldn't approve for a 15% down mortgage that would cost him about $1000/mo, but he had no issues getting approved at a manufactured home lot where the lot rent alone is $950/mo, plus the $500/mo for the home itself. All because he used to be poor and had some really unfortunate financial luck, he gets the privilege of paying twice as much for objectively worse housing.
Well, okay, but maybe you should also wait.