In 2016, a group of education researchers sounded the alarm comparing charter schools to subprime mortgages.38 Subprime mortgages are high-risk mortgage loans that were common leading up to the 2007–2008 financial crisis. Banks specifically targeted Black people by issuing loans they knew they could not repay by imposing unfair and aggressive loan terms, a practice called predatory lending. This practice is one of the many reasons the housing bubble burst. Also, a high number of Black people were deceived into taking out home loans that ruined their chances of ever building wealth. Similarly,
...more
