As we talk about the racial wealth gap it’s critical to highlight the importance of owning appreciating assets. At the end of 2020, 44% of Black Americans owned their homes, according to the U.S. Census Bureau, compared with almost 75% of White Americans. That difference materially undermines both family wealth creation and prospects for inclusive prosperity. While not the only way, but certainly one of the surest ways to build generational wealth is through ownership of appreciating assets like land, a home, or even commercial property.
Today we are joined by someone who’s making it happen. As CEO of Chicago Trend, Lyneir Richardson is creating new ownership opportunities within majority communities of color, empowering inclusive ownership and strategic retail to drive neighborhood transformation.
Moving the Needle is hosted by Christopher Gergen & Johnathan Holifield, and is produced by Earfluence.
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