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Building Generational Wealth in the Midst of Gentrification

The Washington Informer, October 13, 2021, Building Generational Wealth in the Midst of Gentrification

The nation’s capital is one of the most highly gentrified cities in the country according to a 2019 study by the National Community Reinvestment Coalition based on U.S. Census Bureau and economic data. This is particularly evident in Wards 7 and 8, where homeownership among Black residents has been declining at an alarming rate.  

This is owing largely to the proliferation of development projects targeting a younger, wealthier ‘Creative Class’ of millennials, ages 18-34. Certainly such initiatives have the effect of driving up housing values to a point where many would-be homebuyers are priced out of the market, but what about homes that have been Black-owned for decades? 

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