The Biden regime racist housing plan is far worse than just favoring particular ethnicities. It adds a major economic attack against responsible homeowners who will now have to pay for the premiums and fees of the credit and default risk permitted for favored races.
In 2021, the Biden regime rescinded the successful Trump Administration economic and housing policies that resulted in unprecedented gains among minorities in employment, income and homeownership.
Citing Marxist buzzwords Diversity, Equity, Inclusion, Sustainability and disparity in ownership rates, the Biden Regime ignored Congress, and directed HUD and FHFA (regulator of Fannie Mae and Freddie Mac) to implement its Affirmatively Furthering Fair Housing (“AFFH”) scheme cheered by Senators Sherrod Brown, Elizabeth Warren, Patty Murray and Catherine Cortez-Masto.
The Trump team found AFFH to be a discriminatory program that would be fundamentally unfair.
Seizing power in 2021, just one pesky problem remained for the Biden Regime: The Fair Housing Act of 1968 that prohibits discrimination in the sale, rental, and financing of housing based on race, religion, national origin, sex, handicap and family status. Not much for abiding by law, the Biden crew replicated the tricks that had worked in the Obama years and decided to cook up a legal opinion “to take meaningful steps to improving fair housing outcomes.”