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How Companies Are Helping To Close The Racial Wealth Gap forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
David Paul Morris/Getty Images Amid a global pandemic, Black millennials led a boom in African American homeownership in 2020. But racial disparities in wealth, education, employment, and homeownership still persist for Black Americans. Homeownership is going to be a challenge for all millennials, but mostly for Black millennials, an expert told Insider. During a pandemic that hit Black communities hard, millennial buyers represented the bulk of African Americans home purchases in 2020. Black adults between the ages of 26 and 39 sparked a nationwide rise in the homeownership rate for African Americans, CNN Business reported. According to a November report released by the National Association of Realtors, 5% of home buyers during the first three quarters of 2020 were Black, compared to 4% in 2019. Despite a 1% increase, US Census data shows Black millennials raised the homeownership rate for African Americans more than t ....
Alerts Houses are surrounded by flood waters after Hurricane Delta passed through the area on Oct. 10, 2020 near Lake Charles, Louisiana. Photo: Chandan Khanna (Getty Images) There’s no question that flooding is becomingworse due to the climate crisis pushing up our sea levels and making heavy downpours more common. But the risk doesn’t affect us all equally. A report released by the real estate brokerage firm Redfin this week shows that formerly redlined areas are more vulnerable to the threat of floods. Advertisement Redlining was a discriminatory lending practice in the 1930s, wherein house appraisers mapped cities for the federal Homeowners’ Loan Corporation with different colored lines to indicate how desirable areas were to live in. Neighborhoods deemed “best” or “still desirable” were marked with green and blue lines, respectively. Those considered “definitely declining” were marked in yellow, and zones declared “hazardous” overwh ....
A Tree Grows in Richmond: Southside Moves from Redlining to Greening A nonprofit-led project seeks to address environmental injustices and improve water quality with targeted tree planting. Kenny Fletcher/CBF Left: Southside, Richmond, Virginia, courtesy of Southside ReLeaf; Right: previous (2018) tree plantings led by the Chesapeake Bay Foundation at Branchâs Baptist Church in Southside. At the peak of a Virginia summer, the difference between the sun and shade is stark. High urban temperatures can be dangerous in the capital city of Richmond. Trees can provide substantial cooling, pull pollution from air and water, and beautify neighborhoods. But in Richmond and other U.S. cities, the racist housing policy of redlining has resulted in less tree canopy for many neighborhoods with predominantly Black residents, making them now hotter in the summer. ....