Opinion | 'My walks through Observatory Park have become unwelcome reminders of the institutional racism that deprived Black Americans of generational wealth.'
“America has missed opportunity after opportunity to make significant improvements in Black homeownership,” writes Jo Ann Allen.July 28, 2022 at 10:28 a.m.
Miriam Webster defines institutional racism as the systemic oppression of a racial group to the social, economic, and political advantage of another, namely the white community. COLab’s reporting quoted the Brookings Institution as saying, “Across the country, owner-occupied homes in Black neighborhoods are undervalued by $48,000 per home, on average, which amounts to $156 billion in losses nationwide. When half of the residents in a neighborhood are Black, the homes are valued at roughly half the price of homes in neighborhoods with very few or no Black residents.”
The bill’s implementation also gave cover to bankers and other private actors in the real estate game to engage in blatant discrimination in President Roosevelt’s home state. There’s the often cited case of a large development called Levittown on suburban Long Island east of New York City that focused on providing modest houses for returning veterans.
Take a moment to imagine how different American neighborhoods would look if in the wake of the war, Black soldiers and sailors could have taken full advantage of the government’s promise of giving vets a leg-up through education and homeownership. I don’t begrudge anyone the ability to afford highfalutin domiciles. Good on ya. But the question is how much of wealthy Americans’ their station in life came solely from their own hard work and how much of it can be attributed to white skin privilege enjoyed by a line of ancestors?
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