30 Black men join forces to create Kioba Business Ventures, a development company fostering generational wealth for Black families through homeownership

Subject

Kioba Business Ventures; Black Wealth; Homeownership

Description

According to the Abell Foundation, the homeownership rate in Baltimore City dropped from 51 percent to 47 percent from 2007 to 2017. The Black homeownership rate plunged to 42 percent. The decline of Black homeownership is not special to Baltimore. In fact, the homeownership gap between White and Black Americans is wider than it was more than 50 years ago. Unlike their counterparts, Black adults have long been subject to redlining, and they face significant barriers to borrowing from banks. 

Creator

By Megan Sayles, AFRO Business Writer,
Report for America Corps Member,
msayles@afro.com

Source

https://afro.com/30-black-men-join-forces-to-create-kioba-business-ventures-a-development-company-fostering-generational-wealth-for-black-families-through-homeownership/

Publisher

afro.com

File

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