I had previously read the article and did find it very interesting, eloquent and poignant in many places.
But Coates leaves out a whole lot. Just to take one example that is often mentioned in connection with reparations: redlining. Redlining was applied to whole neighborhoods - ostensibly because black people lived there (that’s a huge oversimplification) - which caused an inability to obtain FHA-backed loans, back in the early days of FHA-backed loans.
Many white people actually were living in those redlined neighborhoods. They built them. Coates actually mentions the Jewish people who lived in North Lawndale. What happened to the value of their homes when this new financing scheme was implemented? As their home values fell, they were forced into much more expensive neighborhoods. Lacking equity, they couldn’t afford to buy either. Should their descendants be compensated for their loss of value?
Also, many, many immigrants - Italians, Irish, Polish, German - also entered into unregulated property markets, way before there were any government-backed financing schemes. What happened to them? (Hint, many of them clawed their way to home ownership in districts that were subsequently redlined in Chicago, and they lost it all.)
Last, on this aspect of the article, Coates paints a typical installment contract (often termed a “land sales agreement”) as something evil. It should be pointed out that way back in the era of “no legal protections,” this allowed Clyde Ross to purchase his house with less than 4% down ($1,000 on a $27,500 sales price). Coates fails to mention that the typical mortgage in the era prior to FHA was a 5-year balloon, requiring only interest payments but then payment in full at the end of the term. Couldn’t pay? Couldn’t refinance? Then you lost your house, your down payment and all your interest payments, just as in the sales contracts. It happened to many then-recent immigrants from Italy (sometimes in Chicago, but more often in NYC, Boston, Philly and Baltimore).
Anyway, the history of the US is a fascinating area. Probably no country in recorded history has integrated more ethnicities, races and cultures in so short a time, as imperfect as the process has been (and continues to be). Oversimplifying the past into a narrative of “us versus them” does no one any good.