$156 billion. Think about that number. That is the gap of value between homes owned within pre-dominantly Black neighborhoods versus areas that are less than 1% Black.
Breaking that number down even further, this equates to the average Black home being undervalued at $48,000 less than the average white home. In this episode of Left of Black, Brookings Institution senior fellow Andre M. Perry joins host and Duke University Professor Mark Anthony Neal to argue that this is the cost of racial bias across the housing market and how that limits entry into the middle-class. They discuss his new book, Know Your Price: Valuing Black Lives and Property in America’s Black Cities, published by Brookings Institution Press.
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