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Home Ownership Archives - Institute of the Black World 21st Century

Neighborhood homes

Black Americans’ Homes Undervalued by Billions

By | News & Current Affairs

By Teddy Grant, Ebony — Black Americans’ homes are routinely undervalued in the real estate market, according to a report by Brookings Institution and Gallup that was released Tuesday. In the report “The devaluation of assets in Black neighborhoods: The case of residential property,” homes in neighborhoods with a Black majority that are owner-occupied are appraised for lower prices, averaging $48,000 per home, writes Curbed. Such low appraisal prices translate…

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How a ‘segregation tax’ is costing black American homeowners $156 billion

By | News & Current Affairs

A new Brookings/Gallup report finds residential property in majority-black neighborhoods is consistently undervalued. By Patrick Sisson, Curbed — Black Americans, long accustomed to facing more hurdles on the road to homeownership, may consistently find their investments in residential property undervalued, according to a new joint Brookings Institution and Gallup study. According to “The devaluation of assets in black neighborhoods: The case of residential property,” owner-occupied homes are undervalued by the real estate market across…

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Image courtesy of Community Movement Builders (CMB)

Gentrification: The New “Negro Removal” Program

By | Vantage Point Articles

Displacing Black People and Culture, Gentrification: The New “Negro Removal” Program A Call for an Emergency Summit. Vantage Point by Dr. Ron Daniels — Gentrification has emerged as a major threat to Black communities that have been centers for Black business/economic development, cultural and civic life for generations. Gentrification has become the watch-word for the displacement of Black people and culture. Gentrification is the “Negro Removal Program” of the…

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AME Church Bishops pose with Black bankers and business leaders after announcing historic partnership.

AME Church and Black Banks Launch New Partnership for Black Wealth

By | News & Current Affairs

By Hazel Trice Edney — (TriceEdneyWire.com) – The Black church, among the most prosperous institutions in America, has long led movements for the spiritual, social and civic uplift of Black people. When the Rev. Dr. Martin Luther King Jr. was assassinated on April 4, 1968, he had just launched the Poor People’s Movement, which quickly fizzled after his death. With this historic backdrop, the African Methodist Episcopal Church – with…

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For People of Color, Banks Are Shutting the Door to Homeownership

For People of Color, Banks Are Shutting the Door to Homeownership

By | News & Current Affairs

By Aaron Glantz and Emmanuel Martinez — Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts. This modern-day redlining persisted in 61 metro areas even when controlling for applicants’ income, loan amount and neighborhood, according to a mountain of Home Mortgage Disclosure Act records analyzed by Reveal from The Center for Investigative Reporting.

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