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| Tucker Carlson: The Biden admin is punishing Americans with high credit scores. Fox News host Tucker Carlson reacts to a new Biden administration rule that will punish Americans with good credit on 'Tucker Carlson Tonight.' tucker carlson, tucker carlson tonight, joe biden, kamala harris, marcia fudge, mary cummins, real estate appraiser, real estate appraisal, bias, racist, white supremacist, fico, credit, fox news @tuckercarlson |
UPDATE: And a couple of days later he's gone from FOX News. This was his last story, show. Of all stories to be his last! He was let go Monday morning. https://www.tmz.com/2023/04/24/tucker-carlson-leaving-fox-news/
ORIGINAL: Some Facebook appraisal groups are sharing this video of Tucker Carlson talking about Democrats trying to get the vote. In the video he talks about Joe Biden, Kamala Harris and Marcia Fudge lying and stating that all appraisers are white supremacists who are racists against black people and devalue their homes. Tucker Carlson states they provided no evidence that this is true. While I prayed to God for a savior in the media to spread the truth about the issue Tucker Carlson sure as hell would not have been my first choice. Was there no one else available, dear Lord?!
SHOW: "Tucker Carlson: The Biden admin is punishing Americans with high credit scores. Fox News host Tucker Carlson reacts to a new Biden administration rule that will punish Americans with good credit on 'Tucker Carlson Tonight.' " April 21, 2023 https://www.foxnews.com/video/6325545406112 Real issue starts at 2:15 min into it. Text https://www.foxnews.com/opinion/tucker-carlson-biden-admins-new-rule-punish-people-high-credit-scores
Carlson says Marcia Fudge says home appraisers are white racists who lowball black homeowners. Even HUD's own data shows this is false. AEI did independent research on HUD's data and proved there is no racism in home appraisal values, see link below. He shows a clip of the CNN August 2022 interview which I wrote about. Fudge says black people have lost great wealth through the appraisal process. No, they have not. Again, AEI research ( https://www.aei.org/research-products/report/comments-on-the-pave-report/ ) proved this to the PAVE task force by debunking Andre Perry's non-peer reviewed, non-published paper ( https://www.aei.org/wp-content/uploads/2021/12/AEI-Housing-Center-Response-to-Perry-and-Rothwell-2021-final.pdf?x91208 ) . The difference in value between white and black, brown owned homes is caused by the income gap. Whites make more money so they have more money and buy more expensive homes in more expensive areas. That's it! It's the income gap, stupid!
Marcia Fudge again offers the false anecdote about her home being worth less than her neighbor's only because she is black and the neighbor is allegedly white. This has been debunked here previously ( https://mary--cummins.blogspot.com/2022/03/pave-task-force-action-plan-from-white.html scroll to "I live in an all" ). Fudge's home is much older, of average quality and sits on the main highway. The homes across the street are new, of very good quality and in a private development off the main highway. That's why the newer homes are worth more. We don't know the color of the owners of the new homes. If Fudge doesn't understand this, she should not be the head of HUD. She also shouldn't be believing Zillow Zestimates of value. We all know they are not accurate.
Carlson said Kamala Harris in March 2022 was talking about the Home Appraisal Workforce (she meant PAVE task force ). She said appraisers are mainly white and biased. She said appraisers now must take training on fair housing and bias because of her and PAVE. False. We've been taking this training since at least 1989. You have to take it to get your license. There are new training hours which will take effect this year. It's more of the same exact training that we've taken since the 1990's. They are just divvying up the number of credits differently. It's the same total hours with the same topics.
Carlson then talked about the false accusations that all appraisers are white supremacists, "There is zero evidence of that. It's a slur upon home appraisers. Why do they deserve this abuse?" "They're using fake allegations of racism as the pretext of a political plan. They're doing it for votes." I totally agree. Can't believe I just agreed with Tucker Carlson! I feel gross but what he said is true. Why is Carlson speaking the truth now? Is he trying to change his MO after the huge defamation lawsuit loss because of his lies? I knew one day probably near election time GOP would pick up on Biden's false narrative about appraisers. I just didn't think it'd be Tucker. Anyway here is the research which proves that appraisals are not racially biased. https://www.aei.org/how-common-is-appraiser-racial-bias/ Real estate appraisals are a math formula. We don't even know the color of the owners of all the homes we appraise and use as comparable sales.
Biden just introduced a rule about credit scores and fees effective May 1, 2023. People with FICO of 740 or above will pay $40 more a month. People with low credit scores will get a discount of 1.75%. I personally believe this is unconstitutional. The purpose of credit scores is to reward people for working hard, saving money and paying bills on time. They are lower risk borrowers so their loans costs less. The better your score, the less you pay for credit because the risk of default is lower. Carlson said black people have average credit scores under 680. He says he doesn't know why. I do. It's because of the income gap. Whites make more than blacks and browns. It's because of socioeconomic factors and not color. Whites are also more likely to be married. It's cheaper to live as a married couple than two separate households. Whites less likely to have multiple children under the age of 18 than blacks, browns. Again, AEI proved this with independent data based on government data, see above. Fix the income gap and other factors if you want things to be more equal. Don't go blaming appraisers just because it's easier and good for votes.
This new program won't even help poor people. It will help them get stuck in an over priced home in a depreciating market. They will be paying higher interest rates on their mortgage which they can't easily afford. They are more likely to not be able to afford their mortgage while the economy contracts and some lose their jobs. As their home value depreciates they will end up under water. Thanks, Biden, Harris, Fudge! The Gov did the same before the great recession. Why don't they learn their lessons? Because politics and getting votes. They don't really care about helping poor people but getting their vote. It really is a sad situation.
FTR I'm a Democrat who voted for Biden. I agree with most of his positions except the false narrative of the "racist appraiser" and mass "appraiser bias" in appraisal values. This started during the last campaign cycle. Both Harris and Biden as candidates for President promised to "finally" help lower income black and brown people. If they really want to help, fix the income gap!
Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.
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