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Ownership of commercial real estate—including retail shops, downtown offices, warehouses, and other kinds of income-generating property—is concentrated in the hands of a few and is very unequal by race. The average white household owns $34,000 of commercial real estate, compared to just $3,600 for the average Black household.
An important wealth building opportunity for Black Americans is being missed, Lyneir Richardson, Tracy Hadden Loh, and Andre M. Perry argue. In a new report, they examine the extent of the problem and share a new project to support communities as they attempt to “buy back the block.”
The undervaluation of majority-Black ZIP codes results in aggregate wealth losses of $171 billion in retail space for the owners of these properties, the authors find.
Veterans and democracy
The rise of deep political polarization, in tandem with a concerning decline in civics knowledge, poses substantial challenges to American democracy and national security. In this climate, military veterans can play a critical role in fostering an atmosphere of collaboration.
To learn more about how veterans bridge divides and strengthen civic knowledge in the United States, watch our recent event.
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