Commercial real estate firm JLL pulls out of summit over lack of diversity

The New York Multifamily Summit is billed as a chance to discuss investment in, among other places, areas that have large historic black communities By: Jim Dalrymple II International commercial real estate firm Jones Lang LaSalle (JLL) revealed Friday that it is pulling its support of an upcoming industry conference due to a lack of Continue Reading Learn more


Every 2020 Democrat’s Plan to Fix the Housing Crisis

By Josh Ocampo Over the weekend, Bernie Sanders teased a $2.5 trillion housing plan, which, among other things, promises to establish a national rent control standard and make significant investments in affordable housing. Like Sanders, several other Democratic candidates have released proposals to tackle housing inequality in America. Former Secretary of Housing and Urban Development Continue Reading Learn more


‘The Color of Wealth in Miami’ Is Black and White

By Aracely Panameño From our nation’s founding, state and federal laws have either stacked the deck for or against Americans of diverse racial and ethnic origin. In their new report, “The Color of Wealth in Miami,” Alan A. Aja, Gretchen Beesing, Daniel Bustillo, Danielle Clealand, William Darity, Jr., Darrick Hamilton, Mark Paul, Anne E. Price, Continue Reading Learn more


Homeownership is the Top Contributor to Household Wealth

BY: JANN SWANSON Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account. While that may not be surprising, the degrees of magnitude are. Using data from the 2015 Survey of Income and Program Participation, Jonathan Eggleston, an economist, and Donald Hays, Continue Reading Learn more


Coldwell Banker and Realogy Support NAREB

By Kevin Guhl, Neighbor Coldwell Banker And Realogy Support National Association Of Real Estate Broker’s Commitment To Diversity And Inclusion MONTCLAIR, N.J. (Aug. 23, 2019) – Coldwell Banker Residential Brokerage and its parent company Realogy had the honor of being a corporate sponsor of the 72nd Annual National Convention of The National Association of Real Continue Reading Learn more


Why So Many Black Property Owners in Central Brooklyn Are Losing Their Homes, Explained

Part 1 in a series: The difference between deed theft and the city’s controversial Third Party Transfer Program By Charlie Innis Black homeowners in Central Brooklyn are losing their homes at an alarming rate, and the main culprits are deed theft and the city’s controversial Third Party Transfer Program. As of March 2019, there were Continue Reading Learn more


Study: African Americans underserved, overcharged by US banks

By Zack Budryk The relative rarity of banks in nonwhite neighborhoods is exacerbating the racial wealth gap by leaving African Americans more reliant on expensive financial services such as payday lending institutions, according to Reuters, citing research by McKinsey & Co. The study found that majority-white counties have an average of 41 financial institutions per Continue Reading Learn more


Groundbreaking Initiative Shows Pathway to Propel Black Homeownership

By Mike Community Journal Potential homebuyers turned out in droves to receive know-how, financial assistance through landmark program While statistics may paint a grim picture of Black homeownership, a recent event in Baltimore laid out a clear path for turning those numbers around across the country. Anyone questioning whether the Black community is primed to Continue Reading Learn more


Library exhibit explores Southwest’s history of racial displacement

By Zach Farber Upstairs at the Linden Hills Library, a flat-screen television has been set up to serve as an interactive history exhibit. The screen displays an old hand-lettered, green-and-black map of Southwest Minneapolis. Scattered across the map are about a dozen big red dots, mostly clustered in the neighborhoods of Linden Hills and Lyndale. Continue Reading Learn more


Bank of America Launches $5 Billion Home Loan Assistance Program

By Stacy M. Brown, NNPA Newswire Correspondent Bank of America officials have spent the past few months asking their customers and clients a simple question – what would you like to have the power to do? “For many, the goal is to own a home and saving up for a down payment is the biggest Continue Reading Learn more


Five Key Facts That Underscore The Alarming Crisis In Black Homeownership

By Brenda Richardson For many black households, the housing crisis never ended. While 73.1% of white Americans owned homes as of the second quarter of 2019, a record low of 40.6% of black Americans had achieved homeownership and 46.6% of Hispanic Americans. The resulting 32.5 percentage-point gap in homeownership between black and white Americans is Continue Reading Learn more


Systemic Inequality: Displacement, Exclusion, and Segregation

How America’s Housing System Undermines Wealth Building in Communities of Color By Danyelle Solomon, Connor Maxwell, and Abril Castro This report is part of a series on structural racism in the United States. Authors’ note: CAP uses “Black” and “African American” interchangeably throughout many of our products. We chose to capitalize “Black” in order to Continue Reading Learn more


HUD to propose more hurdles to prove housing discrimination

By KATY O’DONNELL The Department of Housing and Urban Development is circulating a proposal to make it more difficult to bring discrimination claims under the Fair Housing Act. The update to HUD’s 2013 disparate impact rule would require plaintiffs to meet a five-step threshold to prove unintentional discrimination, replacing the current three-step “burden-shifting” approach. It Continue Reading Learn more


Black Entrepreneur Who Opened Three Real Estate Firms in 5 Years Speaks at NAREB National Convention

Tamairo Moutry, a successful entrepreneur and real estate mastermind, has opened three real estate companies in less than 5 years, and is opening her next one in Illinois before the end of this year. She was a guest speaker on the Independent Real Estate Broker panel at this year’s NAREB national convention. Atlanta, GA — Continue Reading Learn more


Survey finds race still a factor in mortgage approval

  A new analysis of US mortgage applications claims African Americans are twice as likely to be denied a mortgage as white applicants. The study, carried out by real estate blog Clever Real Estate, also found that the disparity between white and black mortgage approval rates is most pronounced in the South. In Montana, Idaho, Continue Reading Learn more


Will White House act to end the affordable housing crisis?

By Charlene Crowell Nearly 90 years ago, Kelly Miller, a black sociologist and mathematician, said, “The Negro is up against the white man’s standard, without the white man’s opportunity.” As the first black man to enroll as a graduate student at Johns Hopkins University in 1908, Miller also authored a book entitled Race Adjustment, published Continue Reading Learn more


Blacks, income property and wealth

By Pride Newsdesk It is quite disturbing to learn there has been virtually no substantial increase in Black wealth in the last 50 years.   Based on data from the Federal Reserve’s survey of Consumer Finance, the typical black family has just 10 cents for every dollar held by the typical white family. History reveals Continue Reading Learn more


Making opportunity zones work for black communities

By Venroy July The IRS and the Treasury Department recently released a second set of proposed regulations on the federal Opportunity Zone program, which was created by the 2017 tax law to spur investment in economically distressed census tracts. The Opportunity Zone law provides significant long-term tax benefits for investors who put capital gains into Continue Reading Learn more


Black Americans Face Challenges in Achieving Homeownership, but Help is Available

By: Crissinda Ponder Economic disparities are still a pain point in many communities across the United States, especially in terms of homeownership.   The homeownership rate among white Americans is 73.2%, according to the latest Residential Vacancies and Homeownership quarterly report from the U.S. Census Bureau — significantly higher than the homeownership rates for all Continue Reading Learn more


REPORT: Cities with the highest percentage of black homeowners

By Selena Hill Even though housing discrimination has been outlawed for 50 years, studies show that the U.S. black homeownership rate isn’t any higher than when the Fair Housing Act initially passed in 1968. In fact, the racial gap between white and black homeowners today is significant. According to the U.S. Census Bureau, the homeownership Continue Reading Learn more