What’s the rationale for distinguishing between these house valuations by attaching moral metadata to them? Everyone’s economic condition is path dependent. What’s the point of distinguishing between similar economic conditions based on that path?

The typical reason people focus on these economic effects is that Americans broadly agree that people don’t bear direct moral culpability for their family’s conduct or their ancestor’s conduct. So the focus shifts to persistent economic effects. But that just attaches that generational moral culpability to economic valuations. My wife’s inheritance isn’t worth anything because her grandmother was a waitress in rural Oregon. Why is that different than if your wife’s inheritance isn’t worth anything because her grandmother couldn’t get a bank loan? The economic conditions are identical, and the people with moral culpability are dead.

The important context is that there’s more people situated like my wife than your wife. Although e.g. 62% of black people made under $40,000 in 2016, and only 40% of white people, there’s still four times as many white people under that threshold than black people. What’s the logic of singling out a minority of people who are similarly situated economically and treating their economic circumstances specially because of what happened to their ancestors?