It was a tossup on where to post this jewel…Snowflake or Dumb Biden gaffs?...I flipped a coin..
Biden Marks MLK Day by Ridiculously Suggesting Car Insurance Racist
“If you live in one of those neighborhoods and you have the same exact car I have in the other neighborhood, you pay more for your insurance than that side. No basis for it! None at all other than you’re black, and I’m white.”
I don’t know anything about Joe’s hypothetical neighborhoods, but I do know a thing or two about how risk management rates factor into insurance premium calculations. As anyone who’s sold insurance knows, premiums are higher or lower based on relative risk management. In the case of car insurance, the higher the demonstrated risk of a vehicle being stolen or wrecked, the higher the premium. The converse is true, as well.
Biden pretty much applied his same “logic” to home values:
“You know if you build, in the last 25 years, if you build a housing development on one side of an interstate highway and you built the same one on the opposite side and one is predominantly black and the other is predominately white, guess what?
The value of the exact same home built by the exact same builder is more valuable on the white side of that highway than the [black] side. That’s a fact.”
is it a fact? Biden didn’t back up his “fact” with facts
. I only know this: The value of goods on the market is driven by what people are willing to pay for those goods, based in part on the supply and demand for similar products — including homes — regardless of the color of people buying or selling those products.