Tag: economic inequality

Your Home’s Value Is Based on Racism

By Dorothy A. Brown

Read the full article from The New York Times here.

“Black Americans are often unable to build wealth from homeownership in the same way their white peers are, in large part because home prices are generally set by the people who make up the majority of buyers: white Americans. White families typically prefer to live in predominantly white neighborhoods with very few or no Black neighbors. Homes in these neighborhoods tend to have the highest market values because most prospective purchasers — who happen to be white — find them most desirable.”

Renting Is Terrible. Owning Is Worse.

By Shane Phillips

Read the full article from The Atlantic here.

“The housing situation is only getting worse—more expensive, more inequitable, more precarious. As prices have continued their climb in the country’s most economically dynamic regions, it’s no longer feasible for working-class residents to seek out the best opportunities there. Instead, younger and lower-income residents are being pushed out to places where jobs are less plentiful and lucrative, but where housing, at least, is relatively affordable.”

The mirage of the Black middle class

By Anne Helen Petersen

Read the full article from Vox here.

“You buy a place, that place grows in value, and either you trade up to a bigger place or you keep it until you can pass it down to your kids or your kids get the money from its sale. Stability gives birth to even more stability. That’s not what happened with Dee’s family. ‘My grandparents were bludgeoned every time the economy took a downturn,’ Dee recalls, in part because of the legacy of redlining and the devaluation of property in Black neighborhoods.”

Want to visualise inequality? View cities from above

By Sydney Combs, Photographs by Johnny Miller

View the gallery from National Geographic here.

“Stark images from Johnny Miller’s series “Unequal Scenes” highlight the uneven development of cities. Makeshift shacks butt against developments in Mumbai. Lots sit empty in Detroit while an adjoining neighborhood flourishes. An electric fence buzzes around an affluent community in South Africa. The landscape shows how barriers—both man-made and otherwise—reinforce the disparities in urban centers.”

Where in The U.S. Are You Most Likely to Be Audited by the IRS?

By Paul Kiel and Hannah Fresques

Read the full article from ProPublica, here.

“The study estimates that Humphreys, with a median annual household income of just $26,000, is audited at a rate 51 percent higher than Loudoun County, Virginia, which boasts a median income of $130,000, the highest in the country. In a baffling twist of logic, the intense IRS focus on Humphreys County is actually because so many of its taxpayers are poor. More than half of the county’s taxpayers claim the earned income tax credit, a program designed to help boost low-income workers out of poverty.”

Report: PPP loan program shortchanged Buffalo’s Black neighborhoods

By Jerry Zremski

Read the full article from Buffalo News, here.

“The federal government’s main effort to rescue small businesses during the pandemic tended to benefit wealthier neighborhoods far more than predominantly Black parts of metro Buffalo, according to a new study by a group that researches federal policy and its implications nationwide. The study found that the ZIP code with the largest Black population in Buffalo, on the city’s East Side, received the smallest number of loans. Meanwhile, the most loans locally went to the 14221 ZIP code, which includes Williamsville and parts of Amherst and Clarence.”