Is Homeownership A Deferred Dream?

first_img Is Homeownership A Deferred Dream? Related Articles About Author: Donna Joseph November 29, 2018 1,266 Views Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Brookings Institute Devaluation Homeownership Median Home Value mortgage 2018-11-29 Donna Joseph Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Previous: Kraninger Nom Advances to Senate Vote Next: Radian Acquires Independent Settlement Services Homeownership is central to the American Dream. However, it is hard for many from minority communities to achieve, according to a report by Brookings Institute, titled “The devaluation of assets in black neighborhoods” that addressed the cost of racial bias. The report found that owner-occupied homes in black neighborhoods are undervalued by $48,000 per home on average, amounting to $156 billion in cumulative losses. It stated that black communities face major impediments to building wealth, commencing and investing in business ventures as well as attaining a proper education, even today.Analyzing the devaluation of black homeownership, the report found that a majority of black neighborhoods hold $609 billion in owner-occupied housing assets comprising approximately 10,000 public schools and over three million businesses. However, homes in neighborhoods with a population 50 percent black people are valued at roughly half the price compared to homes in neighborhoods with no black residents. The analysis is restricted to113 metropolitan areas with at least one majority black neighborhood. Comparing home values in majority black neighborhoods with those where less than 1 percent of residents are black, homes in majority black neighborhoods have greater appreciation values.The analysis notes that neighborhood quality is not the key reason for the devaluation of homes in black neighborhoods. Homes of similar quality in neighborhoods with similar amenities are worth 23 percent less ($48,000 per home on average, amounting to $156 billion in cumulative losses) in majority black neighborhoods, compared to those with very few or no black residents. The metro areas surveyed revealed that 10 percent of neighborhoods are majority black, home to 41 percent of the black population living in metropolitan areas and 37 percent of the U.S. black population. Approximately 5 million non-black Americans live in majority black neighborhoods, the report indicated. This analysis confirmed the findings that there is a significant correlation between the devaluation of homes in black neighborhoods and the upward mobility of black children in metropolitan areas with majority black neighborhoods, from a statistical standpoint.According to the report, the median home value in majority black neighborhoods is $52,578 while the estimated median home value in majority black neighborhoods, in absence of devaluation is $65,704. The dissimilarity index of the report stated that 57 percent of the white population would need to move to a different neighborhood for the white and black population to be distributed evenly.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Brookings Institute Devaluation Homeownership Median Home Value mortgagecenter_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Home / Daily Dose / Is Homeownership A Deferred Dream? Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Cervantes’ To Celebrate ‘Sweet 16’ With Stacked Month-Long January Lineup

first_imgCervantes Masterpiece Ballroom and Other Side has been a staple in the Denver live music scene for the last 16 years. Serving the Front Range community with some of the most multi-genre epic parties around they are gearing up for a month long sweet 16 celebration full of serious goodies!Cervantes’ is a dual room venue that often hosts two separate shows in a night or one massive 2 stage event. For the entire month of January, they’ll be maximizing both venues to deliver a wild lineup of shows consisting of Winter String Fling with some of bluegrass’ finest, the multi-headed funk beast that is Dr. Klaw, A Tribute To Aretha Franklin, John Medeski’s Mad Skillet, and Everyone Orchestra. Check out the full slate of shows below, and head here for more information.Winter String Fling (TICKETS) / Dr. Klaw (TICKETS) – TIX FOR BOTH SHOWSOn January 4th and 5th, at Cervantes’ Masterpiece Ballroom, the Winter String Fling boasts a bill that any bluegrass lover will drool over, featuring Larry Keel, Yonder Mountain String Band’s Adam Aijala and Ben Kaufmann, Punch Brothers’ Noam Pikelny, Elephant Revival’s Bridget Law, as well as Sierra Hull, the Kitchen Dwellers, and more.The musical prowess of Dr. Klaw has been evident since its earliest inception down at Jazz Fest many moons ago, and will see Eric Krasno, Adam Deitch, Nigel Hall, Ian Neville, Cyril Neville, and Nick Daniels take things to a whole new level of straight-up filthy funk, on the same weekend at Cervantes’ Other Side. Lyle Divinsky’s Soul Survivors will also join the fray on Friday, with Casey Russell & The Soul Shack holding things down early on Saturday.For additional information on both events, join the Facebook Event pages here and here.***A Tribute To Aretha Franklin (TICKETS)Even with such a monster lineup to start things off in early January, the Sweet 16th just keeps going from there. A Tribute To Aretha Franklin will take place at Cervantes’ Masterpiece Ballroom on Friday, January 11th, featuring powerhouse vocalist Kim Dawson (Matador Soul Sounds), backed by a lineup of Jeremy Salken (Big Gigantic), Gabe Marvin, Mike Tallman (Eufórquestra), Such, JoFoke, Nick Gerlach (Michal Menert), and more for what will surely give proper praise to the late Queen. For additional information, join the Facebook Event page.***John Medeski’s Mad Skillet (TICKETS)On Friday, January 11th things are going to get jazzed up when keyboardist extraordinaire John Medeski (Medeski Martin & Wood) brings his Mad Skillet project featuring guitarist Will Bernard, sousaphonist Kirk Joseph, and drummer Terence Higgins to the Ballroom. Local groove trio Dandu will open up for the MMW legend. Don’t sleep on this one. You’ve been warned. For additional information, join the Facebook Event page.***Everyone Orchestra (TICKETS) / Everyone’s Dead (TICKETS) The Cervantes’ Masterpiece Sweet 16 Anniversary celebration will culminate with two nights of Matt Butler bringing out his Everyone Orchestra rotating cast of characters on January 25th and 26th. On Friday, EO will feature Steve Kimock, Bill Payne (Little Feat), Natalie Cressman (Trey Anastasio Band), Jeremy Salken (Big G), George Gekas (The Revivalists), and Brian Moss (Spafford) for the typical anything goes format, which always serves up some deep improvisational jams.On Saturday, Butler will change things up a bit and go to an “Everyone’s Dead” format, which will see the band take on Grateful Dead cuts.Los Colognes will serve in the support slot on Friday, while New Orleans Suspects will perform The Music of Little Feat on Saturday. For additional information, join the FB Event pages for 1/25 here and 1/26 here.Do not miss out on the incredible talent that Cervantes’ Masterpiece has planned for their 16th anniversary, going down every weekend in January on both sides of the venue. To see the full calendar and ticketing information, click here.last_img read more

Ørsted Selects Trelleborg’s Cable Protection for Wind Farms

first_imgØrsted has signed a six-year framework agreement with Trelleborg for the supply of NjordGuard, a cable protection system, for use on upcoming wind farm projects.Andy Smith, business manager for Global Developing Markets with Trelleborg’s offshore operation said: “We are honored to be selected as a key supplier of cable protection systems by Ørsted. This prestigious framework agreement will ensure open collaboration between both parties in order to identify, develop, implement and progress initiatives within the agreement’s key focus areas.”NjordGuard is designed and developed using proven technologies to protect offshore wind farm power cables. NjordGuard is custom-engineered for both array and export cables.last_img