02/07/2022
Things didn’t just end up the way they are. The oppression of black people in America is systematic and intentional.
One of the biggest reasons why today’s income and wealth gaps exists between black and white people is redlining. In the 40s, 50s, and early 60s, black families were prohibited from buying homes in new suburban communities. Most black families had to live in urban areas that were considered “less valuable”, and “suburban” became synonymous with “white”.
Over time, properties in “white, suburban” areas appreciated and white families starting gaining equities that blacks did not. So, when Fair Housing Law passed in 1968, a lot of the black families were no longer able to afford the same suburban homes they were once able to because of the same equities they did not earn that white families did. White families could go on to send their kids to college, purchase more properties and start more businesses, with the equity they earned and are still earning - hence the wealth/income gaps.
Black ownership is a 🔑 to closing the gaps between races. I understand the importance of my work and I am blessed to continue to help my people create generational wealth by breaking shackles and becoming real property owners.
Happy Black History Month! 🖤
Laini Patterson, Realtor
Better Homes Realty
510.502.9178
[email protected]
DRE: 02131352
