Quote:
Originally Posted by sarettah
Hey Jesse,
The VA program did not exclude. It was the bankers and the developers that excluded. For example, in the town I grew up in you could not buy a house unless you were white Christians. That was the rules Levitt set in 1949 or 1950 for buyers of the homes. In reality, by 1960 there were Protestants, Catholics and Jews living in Levittown, mainly because you can't tell a Jew from a Christian by just looking.
https://en.wikipedia.org/wiki/Levittown,_New_York
The houses he built originally sold for around $8,000. But with the GI bill and such you could get into one for about $400 (5%). |
From what you just posted there, it was not the bankers and developers as much as it was the government. If a developer had an acknowledged "mixed" community, home buyers could not get an FHA loan and FHA loans are all regulation BS because there is no risk to the bank, so the bank does not care who the loan is for. FHA being an obstacle means the problem was at the Federal level, just like a lot of modern mortgage discrimination with things like
Operation Choke Point or even it simply being harder for the self-employed to buy a home than for people with W2 jobs.