Racism Isn't Just Systemic In Law Enforcement. It's In Real Estate, Too
- 4 years ago
Recent Black Lives Matter demonstrations across the US have shed a light on not only racism in law enforcement but also economic discrimination.
According to Business Insider, a home in an African American neighborhood in Minneapolis is worth $33,000 less than a comparable home in a white one.
In the first quarter of 2020, the black homeownership rate stood at 44%. The level of white homeownership was a shocking 73.7%.
The persistent devaluation of black homes leads to $156 billion in cumulative losses each year, robbing black-owned businesses of investment capital.
If you're missing that equity, you essentially have less to pass onto your children, less to pass onto your community. It's a major extractor of wealth when you devalue property. Andre Perry Fellow, Brookings Institute
According to Business Insider, a home in an African American neighborhood in Minneapolis is worth $33,000 less than a comparable home in a white one.
In the first quarter of 2020, the black homeownership rate stood at 44%. The level of white homeownership was a shocking 73.7%.
The persistent devaluation of black homes leads to $156 billion in cumulative losses each year, robbing black-owned businesses of investment capital.
If you're missing that equity, you essentially have less to pass onto your children, less to pass onto your community. It's a major extractor of wealth when you devalue property. Andre Perry Fellow, Brookings Institute