Download or read book Black Homeownership Matters written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Homeownership inequity is a primary driver of the racial wealth gap in New Jersey - one of the highest in the nation. Unfortunately, Black New Jerseyans lack the same access to homeownership and wealth gains from homeownership afforded to white people in the state. Today, just 38.4% of Black New Jersey households own homes compared to 75.9% of white New Jersey households. In addition, the typical white family in New Jersey has $132,000 in home equity, while the typical Black family rents so they have $0 in housing wealth. Black households that do own homes face substantial barriers to wealth-building through homeownership and thus enjoy significantly fewer financial benefits from their investment than their white peers do. Our report Black Homeownership Matters: Expanding Access to Housing Wealth for Black New Jerseyans examines the present-day barriers that limit Black New Jerseyans' access to and financial rewards from homeownership. These barriers include the racial wealth gap itself, which limits access to homeownership; high housing costs; higher home lending costs, including a lack of access to fair credit; and credit scoring systems. Even when Black New Jerseyans are able to overcome these obstacles and purchase homes, Black families' homes are often undervalued due to ongoing segregation and are more vulnerable to foreclosure. While the state and federal governments have taken swift and meaningful action to address urgent housing needs for renters and homeowners during the pandemic, more must be done to address racial disparities in homeownership in New Jersey. Existing state homeownership programs do not sufficiently meet Black New Jerseyans' needs and should be better targeted to address the specific barriers to homeownership faced by Black families. Our report presents the following policy proposals that offer solutions for addressing current barriers to homeownership for Black families in New Jersey"--

Download or read book Race for Profit written by Keeanga-Yamahtta Taylor and published by UNC Press Books. This book was released on 2019-09-03 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: LONGLISTED FOR THE 2019 NATIONAL BOOK AWARD FINALIST, 2020 PULITZER PRIZE IN HISTORY By the late 1960s and early 1970s, reeling from a wave of urban uprisings, politicians finally worked to end the practice of redlining. Reasoning that the turbulence could be calmed by turning Black city-dwellers into homeowners, they passed the Housing and Urban Development Act of 1968, and set about establishing policies to induce mortgage lenders and the real estate industry to treat Black homebuyers equally. The disaster that ensued revealed that racist exclusion had not been eradicated, but rather transmuted into a new phenomenon of predatory inclusion. Race for Profit uncovers how exploitative real estate practices continued well after housing discrimination was banned. The same racist structures and individuals remained intact after redlining's end, and close relationships between regulators and the industry created incentives to ignore improprieties. Meanwhile, new policies meant to encourage low-income homeownership created new methods to exploit Black homeowners. The federal government guaranteed urban mortgages in an attempt to overcome resistance to lending to Black buyers – as if unprofitability, rather than racism, was the cause of housing segregation. Bankers, investors, and real estate agents took advantage of the perverse incentives, targeting the Black women most likely to fail to keep up their home payments and slip into foreclosure, multiplying their profits. As a result, by the end of the 1970s, the nation's first programs to encourage Black homeownership ended with tens of thousands of foreclosures in Black communities across the country. The push to uplift Black homeownership had descended into a goldmine for realtors and mortgage lenders, and a ready-made cudgel for the champions of deregulation to wield against government intervention of any kind. Narrating the story of a sea-change in housing policy and its dire impact on African Americans, Race for Profit reveals how the urban core was transformed into a new frontier of cynical extraction.

Download or read book Race and Real Estate written by Adrienne Brown and published by Oxford University Press. This book was released on 2015-09-30 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Race and Real Estate brings together new work by architects, sociologists, legal scholars, and literary critics that qualifies and complicates traditional narratives of race, property, and citizenship in the United States. Rather than simply rehearsing the standard account of how blacks were historically excluded from homeownership, the authors of these essays explore how the raced history of property affects understandings of home and citizenship. While the narrative of race and real estate in America has usually been relayed in terms of institutional subjugation, dispossession, and forced segregation, the essays collected in this volume acknowledge the validity of these histories while presenting new perspectives on this story.

Download or read book Clever Girl Finance written by Bola Sokunbi and published by John Wiley & Sons. This book was released on 2019-06-25 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: Take charge of your finances and achieve financial independence – the Clever Girl way Join the ranks of thousands of smart and savvy women who have turned to money expert and author Bola Sokunbi for guidance on ditching debt, saving money, and building real wealth. Sokunbi, the force behind the hugely popular Clever Girl Finance website, draws on her personal money mistakes and financial redemption to educate and empower a new generation of women on their journey to financial freedom. Lighthearted and accessible, Clever Girl Finance encourages women to talk about money and financial wellness and shows them how to navigate their own murky financial waters and come out afloat on the other side. Monitor your expenses, build a budget, and stick with it Make the most of a modest salary and still have money to spare Keep your credit in check and clean up credit card chaos Start and succeed at your side hustle Build a nest egg and invest in your future Transform your money mindset and be accountable for your financial well-being Feel the power of real-world stories from other “clever girls” Put yourself on the path to financial success with the valuable lessons learned from Clever Girl Finance.

Download or read book Grasping for the American Dream written by Nora E. Taplin-Kaguru and published by Routledge. This book was released on 2021-07-15 with total page 143 pages. Available in PDF, EPUB and Kindle. Book excerpt: African American homebuyers continue to pay more for and get less from homeownership. This book explains the motivations for pursuing homeownership amongst working-class African Americans despite the structural conditions that make it less economically and socially rewarding for this group. Fervent adherence to the American Dream ideology amongst working-class African Americans makes them more vulnerable to exploitation in a structurally racist housing market. The book draws on qualitative interviews with sixty-eight African American aspiring homebuyers looking to buy a home in the Chicago metropolitan area to investigate the housing-search process and residential relocation decisions in the context of a racially segregated metropolitan region. Working-class African Americans remained committed to homeownership, in part because of the moral status attached to achieving this goal. For African American homebuyers, success at the American Dream of homeownership is directly related to the long-standing dream of equality. For the aspiring homebuyers in this study, delayed homeownership was a practical problem for the same reasons, but they also experienced this as a personal failing, due to the strong cultural expectation in the United States that homeownership is a milestone that middle-class adults must achieve. Furthermore, despite using perfectly reasonable housing search strategies to locate homes in stable or improving racially integrated neighborhoods, the structure of racial segregation limits their agency in housing choices. Ultimately, policy solutions will need to address structural racism broadly and be attuned to the needs of both homeowners and renters.

Download or read book It Was All a Dream written by Reniqua Allen and published by Bold Type Books. This book was released on 2019-01-08 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Young Black Americans have been trying to realize the promise of the American Dream for centuries and coping with the reality of its limitations for just as long. Now, a new generation is pursuing success, happiness, and freedom -- on their own terms. In It Was All a Dream, Reniqua Allen tells the stories of Black millennials searching for a better future in spite of racist policies that have closed off traditional versions of success. Many watched their parents and grandparents play by the rules, only to sink deeper and deeper into debt. They witnessed their elders fight to escape cycles of oppression for more promising prospects, largely to no avail. Today, in this post-Obama era, they face a critical turning point. Interweaving her own experience with those of young Black Americans in cities and towns from New York to Los Angeles and Bluefield, West Virginia to Chicago, Allen shares surprising stories of hope and ingenuity. Instead of accepting downward mobility, Black millennials are flipping the script and rejecting White America's standards. Whether it means moving away from cities and heading South, hustling in the entertainment industry, challenging ideas about gender and sexuality, or building activist networks, they are determined to forge their own path. Compassionate and deeply reported, It Was All a Dream is a celebration of a generation's doggedness against all odds, as they fight for a country in which their dreams can become a reality.

Download or read book The Hidden Cost of Being African American written by Thomas M. Shapiro and published by . This book was released on 2004 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past three decades, racial prejudice in America has declined significantly and many African American families have seen a steady rise in employment and annual income. But alongside these encouraging signs, Thomas Shapiro argues in The Hidden Cost of Being African American, fundamental levels of racial inequality persist, particularly in the area of asset accumulation--inheritance, savings accounts, stocks, bonds, home equity, and other investments-. Shapiro reveals how the lack of these family assets along with continuing racial discrimination in crucial areas like homeownership dramatically impact the everyday lives of many black families, reversing gains earned in schools and on jobs, and perpetuating the cycle of poverty in which far too many find themselves trapped. Shapiro uses a combination of in-depth interviews with almost 200 families from Los Angeles, Boston, and St. Louis, and national survey data with 10,000 families to show how racial inequality is transmitted across generations. We see how those families with private wealth are able to move up from generation to generation, relocating to safer communities with better schools and passing along the accompanying advantages to their children. At the same time those without significant wealth remain trapped in communities that don't allow them to move up, no matter how hard they work. Shapiro challenges white middle class families to consider how the privileges that wealth brings not only improve their own chances but also hold back people who don't have them. This "wealthfare" is a legacy of inequality that, if unchanged, will project social injustice far into the future. Showing that over half of black families fall below the asset poverty line at the beginning of the new century, The Hidden Cost of Being African American will challenge all Americans to reconsider what must be done to end racial inequality.

Download or read book A World More Concrete written by N.D.B. Connolly and published by University of Chicago Press. This book was released on 2014-08-25 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many people characterize urban renewal projects and the power of eminent domain as two of the most widely despised and often racist tools for reshaping American cities in the postwar period. In A World More Concrete, N. D. B. Connolly uses the history of South Florida to unearth an older and far more complex story. Connolly captures nearly eighty years of political and land transactions to reveal how real estate and redevelopment created and preserved metropolitan growth and racial peace under white supremacy. Using a materialist approach, he offers a long view of capitalism and the color line, following much of the money that made land taking and Jim Crow segregation profitable and preferred approaches to governing cities throughout the twentieth century. A World More Concrete argues that black and white landlords, entrepreneurs, and even liberal community leaders used tenements and repeated land dispossession to take advantage of the poor and generate remarkable wealth. Through a political culture built on real estate, South Florida’s landlords and homeowners advanced property rights and white property rights, especially, at the expense of more inclusive visions of equality. For black people and many of their white allies, uses of eminent domain helped to harden class and color lines. Yet, for many reformers, confiscating certain kinds of real estate through eminent domain also promised to help improve housing conditions, to undermine the neighborhood influence of powerful slumlords, and to open new opportunities for suburban life for black Floridians. Concerned more with winners and losers than with heroes and villains, A World More Concrete offers a sober assessment of money and power in Jim Crow America. It shows how negotiations between powerful real estate interests on both sides of the color line gave racial segregation a remarkable capacity to evolve, revealing property owners’ power to reshape American cities in ways that can still be seen and felt today.

Download or read book The New Suburbanites written by Robert W. Lake and published by Routledge. This book was released on 2017-07-28 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: National data indicates a surge in African-American suburbanization during the 1970s. What are the barriers that have slowed this process for so long? Is black entry to the suburbs synonymous with integration? To what extent does it contribute to convergence in the residential distributions of whites and blacks? This careful and thorough study marshals evidence that black suburbanization offers less than full realization of the American Dream.Homeownership in the United States is a source of security, a sign of status, a means of equity accumulation, and a bond to the community. The basic premise underlying The New Suburbanitesis the preeminence of equal access. Survey data collected for this analysis pertains to successful homebuyers - whites and blacks who were able to negotiate safely the treacherous housing market conditions.Specifically, Robert W. Lake draws from a unique survey of black and white homebuyers to assess the institutional and housing market barriers to black suburban homeownership. How does racial discrimination add to the cost, time, and difficulty of housing search for black homebuyers? What is the effect of discrimination on housing prices, resale value, and equity accumulation? What is behind the complexity of white and black attitudes to suburban racial integration? What is the perspective of the real estate agent, the key market intermediary? The book addresses each of these questions and concludes with a critique of present federal fair housing legislation and an assessment of policy implications.

Download or read book Black Picket Fences written by Mary Pattillo and published by University of Chicago Press. This book was released on 2013-07-02 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, Mary Pattillo’s Black Picket Fences explores an American demographic group too often ignored by both scholars and the media: the black middle class. Nearly fifteen years later, this book remains a groundbreaking study of a group still underrepresented in the academic and public spheres. The result of living for three years in “Groveland,” a black middle-class neighborhood on Chicago’s South Side, Black Picket Fences explored both the advantages the black middle class has and the boundaries they still face. Despite arguments that race no longer matters, Pattillo showed a different reality, one where black and white middle classes remain separate and unequal. Stark, moving, and still timely, the book is updated for this edition with a new epilogue by the author that details how the neighborhood and its residents fared in the recession of 2008, as well as new interviews with many of the same neighborhood residents featured in the original. Also included is a new foreword by acclaimed University of Pennsylvania sociologist Annette Lareau.

Download or read book The Whiteness of Wealth written by Dorothy A. Brown and published by Crown. This book was released on 2022-03-22 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: A groundbreaking exposé of racism in the American taxation system from a law professor and expert on tax policy NAMED ONE OF THE BEST BOOKS OF THE YEAR BY NPR AND FORTUNE • “Important reading for those who want to understand how inequality is built into the bedrock of American society, and what a more equitable future might look like.”—Ibram X. Kendi, #1 New York Times bestselling author of How to Be an Antiracist Dorothy A. Brown became a tax lawyer to get away from race. As a young black girl growing up in the South Bronx, she’d seen how racism limited the lives of her family and neighbors. Her law school classes offered a refreshing contrast: Tax law was about numbers, and the only color that mattered was green. But when Brown sat down to prepare tax returns for her parents, she found something strange: James and Dottie Brown, a plumber and a nurse, seemed to be paying an unusually high percentage of their income in taxes. When Brown became a law professor, she set out to understand why. In The Whiteness of Wealth, Brown draws on decades of cross-disciplinary research to show that tax law isn’t as color-blind as she’d once believed. She takes us into her adopted city of Atlanta, introducing us to families across the economic spectrum whose stories demonstrate how American tax law rewards the preferences and practices of white people while pushing black people further behind. From attending college to getting married to buying a home, black Americans find themselves at a financial disadvantage compared to their white peers. The results are an ever-increasing wealth gap and more black families shut out of the American dream. Solving the problem will require a wholesale rethinking of America’s tax code. But it will also require both black and white Americans to make different choices. This urgent, actionable book points the way forward.

Download or read book Homeownership and America s Financial Underclass written by Mechele Dickerson and published by Cambridge University Press. This book was released on 2014-06-30 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why does America have a love affair with homeownership? For many, buying a home is no longer in their best interest and may harm their children's educational opportunities. This book argues that US leaders need to re-evaluate housing policies and develop new ones that ensure that all Americans have access to affordable housing, whether rented or owned. After describing common myths, the book shows why the circumstances now faced by America's financial underclass make it impossible for them to benefit from homeownership because they cannot afford to buy homes. It then exposes the risks of 'home buying while brown or black,' discussing US policies that made it easier for whites to buy homes, but harder and more costly for blacks and Latinos to do so. The book argues that remaining racial discrimination and certain demographic features continue to make it harder for blacks and Latinos to receive homeownership's promised benefits.

Download or read book In Defense of Housing written by Peter Marcuse and published by Verso Books. This book was released on 2024-08-27 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: In every major city in the world there is a housing crisis. How did this happen and what can we do about it? Everyone needs and deserves housing. But today our homes are being transformed into commodities, making the inequalities of the city ever more acute. Profit has become more important than social need. The poor are forced to pay more for worse housing. Communities are faced with the violence of displacement and gentrification. And the benefits of decent housing are only available for those who can afford it. In Defense of Housing is the definitive statement on this crisis from leading urban planner Peter Marcuse and sociologist David Madden. They look at the causes and consequences of the housing problem and detail the need for progressive alternatives. The housing crisis cannot be solved by minor policy shifts, they argue. Rather, the housing crisis has deep political and economic roots—and therefore requires a radical response.

Download or read book Black Wealth Matters written by Zara Trace and published by Zara Trace. This book was released on 2024-02-11 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the heart of every woman lies the potential for prosperity and financial independence. "Black Wealth Matters" is not just a book; it's a powerful guide designed specifically for Black women, offering a transformative path to economic empowerment and wealth building. This pivotal resource dives deep into the racial wealth gap, providing not only insights but actionable strategies and wealth building strategies tailored to overcome the unique challenges faced by Black women. Unlock the secrets to a positive money mindset and master the art of savvy financial planning, as Zara Trace shares the untold stories of Black women wealth creators who've navigated the treacherous waters of economic disparity to claim their rightful place in the world of wealth. From mastering debt to revealing investing secrets, this book is a comprehensive financial freedom guide that lays out a roadmap to financial literacy for Black women, empowering readers to build their economic resilience and thrive. Whether you're on a quest for financial independence or seeking empowerment through investing, "Black Wealth Matters" provides the wealth management tips and financial literacy essentials needed to chart your course. Discover proven strategies for debt mastery, savvy investing, and creating a legacy of wealth. Be inspired by stories of economic empowerment as you embark on your own financial independence journey, equipped with the knowledge and tools to navigate the path to prosperity. "Black Wealth Matters" is more than a book—it's a call to action for Black women everywhere to embrace their strength, resilience, and untapped potential. It's time to embark on your empowerment journey with "Black Wealth Matters: Smart Financial Moves for Black Women." Unlock your path to financial freedom and claim your space in the world of wealth today.

Download or read book A Guide to Becoming a Homeowner for African Americans Yes it is Different for Us written by Quentin J Hardy and published by . This book was released on 2020-04-12 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book details and describes the home buying journey. It points out some key differences in the process for African-Americans. It also explains some of the critical reasons African-American need to own homes as compared to other groups in the United States. Find out what is different for African-Americans when it comes to home ownershipUnderstand why it is more important now more important than ever for African-Americans to own a homeLearn what to do to ensure you keep your homeBecome aware of things that can derail your home buying journeyGet the stuff you will not readily find on the internet

Download or read book At the Boundaries of Homeownership written by Chloe N. Thurston and published by Cambridge University Press. This book was released on 2018-05-03 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, homeownership is synonymous with economic security and middle-class status. It has played this role in American life for almost a century, and as a result, homeownership's centrality to Americans' economic lives has come to seem natural and inevitable. But this state of affairs did not develop spontaneously or inexorably. On the contrary, it was the product of federal government policies, established during the 1930s and developed over the course of the twentieth century. At the Boundaries of Homeownership traces how the government's role in this became submerged from public view and how several groups who were locked out of homeownership came to recognize and reveal the role of the government. Through organizing and activism, these boundary groups transformed laws and private practices governing determinations of credit-worthiness. This book describes the important policy consequences of their achievements and the implications for how we understand American statebuilding.

Download or read book The Residential Is Racial written by Adrienne Brown and published by Stanford University Press. This book was released on 2024-03-26 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt: Housing experts and activists have long described the foundational role race has played in the creation of mass homeownership. This book insistently tracks the inverse: the role of mass homeownership in changing the definition, perception, and value of race. In The Residential is Racial Adrienne Brown reveals how mass homeownership remade the rubrics of race, from the early cases realtors made for homeownership's necessity to white survival through to the 1968 Fair Housing Act. Reading real estate archives and appraisal textbooks alongside literary works by F. Scott Fitzgerald, John Steinbeck, Lorraine Hansberry, Richard Wright, Gwendolyn Brooks, James Baldwin, Ralph Ellison, John Cheever, and Thomas Pynchon, Brown goes beyond merely identifying the discriminatory mechanisms that the real estate industry used to forestall black homeownership. Rather, she reveals that redlining and other forms of racial discrimination are perceptual modes, changing what it means to sense race and assign it value. Resituating residential discrimination as a key moment within the history of perception and aesthetics as well as of policy, demography, and democracy, we get an even more expansive picture of both its origins and its impacts. This book discovers that the racial honing of perception on the block—seeing race like a bureaucrat, an appraiser, and a homeowner—has become central to the functioning of the residential itself.