The under-valuation of the necessity of real estate investments by African-American young adults leading to gentrification.
This article is the introduction and first of a series of essays and media on this and other subjects relevant to the economic development of native African-American (A-A) people. In this first of a series, my intent is to describe the cycle of economic strategies and decline that have taken place in traditional A-A urban communities in major U.S. cities causing loss of land and decline in homeownership of thousands of A-A families. I really want you to know and understand what I’m saying about historical wealth loss, especially in communities where descendants of slaves, have lived for the last 157 years of “freedom”.
Land: the surface of the earth; starts at the center/core of the earth, passes through the earth’s surface, and continues on into space.
Real Estate: land and its improvements (houses, buildings, etc.) in a physical sense, as well as the right to own or use the land
Real Property: ownership rights in land and its improvements
Colonization: foreign controlover target territories (or peoples) for the purpose of taking over political control and re-cultivation often by establishing and settling colonies.
Social Integration: process by which separate groups are combined into a unified society, especially when this is pursued as a deliberate policy.
Assimilation: process whereby individuals or groups of differing ethnic heritage are absorbed into the dominant culture of a society.
Gentrification: process, either planned or unplanned, where wealthy or affluent middle-class and college-educated individuals begin to move into under-valued or traditionally working-class communities, to displace less-affluent individuals by purchasing and improving or upgrading property through new construction, renovation, and modernization.
In the real estate profession, we use the term under-valued, when a property is not accurately appraised according to its highest and best use, location, market conditions and/or similar sales within the same community. Under-valuation is a very well-known and documented problem in A-A urban communities across the country.
The problem of colonization has continually existed in communities of color on every continent. In Houston, its effect can be seen in the declining rates of A-A homeownership and real estate investments in communities like Third, Fourth, and Fifth Wards, Kashmere Gardens, Pleasantville, Acres Homes, Settegast, and Sunnyside.
Colonization has now been renamed to give the term a more acceptable and different meaning than its historical record implies. When other people recognize the value of our property based on location and affordability, then those wealthy enough to take advantage of the lower valued properties begin to buy, develop, and settle there. Eventually they grow in numbers, take control of the political climate, and erode the original culture of that community. The colonization process is now known as gentrification.
Just 30 years ago, Houston’s largest A-A communities included low and high-income as well as blue and white-collar residents and businesses. Their common denominator was “the segregation of the Negro in the United States.” Currently the A-A population of these communities is rapidly declining. Those who can afford to move to areas such as the Woodlands, Kingwood, or Pearland are selling or abandoning their ancestral properties to for the glamour of large suburban homes. Those who remain are experiencing declining cultural and religious services, as well as higher taxes and rents because of gentrification. We are literally losing our ground and its wealth
In future articles I will discuss the following contributing issues for our loss:
Many AA’s do not understand how to build wealth from owning real estate.
Many A-A’s don’t understand the legalities and responsibilities of owning real estate.
Many A-A’s don’t use wills and other estate planning to transfer their wealth responsibly.
Many A-A’s don’t understand how real estate agents can help maximize proceeds before selling their property.
The county appraisals in A-A communities are habitually under-valued, until after gentrification has occurred.
Real estate appraisers discriminate in estimating the value of properties located in or owned by people or communities of color.
Please watch for my next articles about this very important topic.
October 16, 2023, HOUSTON, TX – Congressional Candidate Amanda Edwards has raised over $1 million in less than 4 months, a substantial sum that helps bolster the frontrunner status of the former At-Large Houston City Council Member in her bid for U.S. Congress. Edwards raised over $433,000 in Q3 of 2023. This strong Q3 report expands on a successful Q2 where Edwards announced just 11 days after declaring her candidacy that she had raised over $600,000. With over $829,000 in cash-on-hand at the end of the September 30th financial reporting period, Edwards proves again that she is the clear frontrunner in the race. “I am beyond grateful for the strong outpouring of support that will help me to win this race and serve the incredible people of the 18th Congressional District,” said Edwards. “We are at a critical juncture in our nation’s trajectory, and we need to send servant leaders to Congress who can deliver the results the community deserves. The strong support from our supporters will help us to cultivate an 18th Congressional District where everyone in it can thrive.” Edwards said. “Amanda understands the challenges that the hard-working folks of the 18th Congressional District face because she has never lost sight of who she is or where she comes from; she was born and raised right here in the 18th Congressional District of Houston,” said Kathryn McNiel, spokesperson for Edwards’ campaign. Edwards has been endorsed by Higher Heights PAC, Collective PAC, Krimson PAC, and the Brady PAC. She has also been supported by Beto O’Rourke, among many others. About Amanda: Amanda is a native Houstonian, attorney and former At-Large Houston City Council Member. Amanda is a graduate of Eisenhower High School in Aldine ISD. Edwards earned a B.A. from Emory University and a J.D. from Harvard Law School. Edwards practiced law at Vinson & Elkins LLP and Bracewell LLP before entering public service. Edwards is a life-long member of St. Monica Catholic Church in Acres Homes. For more information, please visit www.edwardsforhouston.com
As September 13th rolls around, we extend our warmest birthday wishes to the creative powerhouse, Tyler Perry, a man whose indomitable spirit and groundbreaking work have left an indelible mark on the world of entertainment. With his multifaceted talents as an actor, playwright, screenwriter, producer, and director, Tyler Perry has not only entertained but also inspired audiences worldwide, particularly within the African-American community, where his influence and role have been nothing short of powerful. Born in New Orleans, Louisiana, in 1969, Tyler Perry’s journey to stardom was a path riddled with adversity. Raised in a turbulent household, he found refuge in writing, using it as a therapeutic outlet. This period of introspection gave rise to one of his most iconic creations, Madea, a vivacious, no-nonsense grandmother who would later become a beloved figure in Perry’s works, offering a unique blend of humor and profound life lessons. Despite facing numerous challenges, including rejection and financial struggles, Perry’s determination and unwavering belief in his abilities propelled him forward. In 1992, he staged his first play, “I Know I’ve Been Changed,” which, although met with limited success, was a pivotal moment in his career. Unfazed by initial setbacks, Perry continued to hone his craft, and by 1998, he had successfully produced a string of stage plays that showcased his storytelling prowess.
Calling all teenage student-athletes! If you have dreams of playing college soccer and wish to represent an HBCU, the HBCU ID Camp is your golden opportunity. From 8 am to 5 pm on November 11-12, Houston Sports Park will transform into a hub for aspiring male and female soccer players. Coaches from HBCUs across the nation will be present to evaluate, scout, and offer valuable feedback. Moreover, they might even spot the next soccer prodigy to join their collegiate soccer programs. This camp is not just about honing your soccer skills but also a chance to connect with the HBCU soccer community. You’ll learn the ins and outs of what it takes to excel on the field and in the classroom, which is crucial for a college athlete. The HBCU ID Camp is an excellent platform to network with coaches, learn from experienced athletes, and take the first steps toward your college soccer journey. To secure your spot at this incredible event, don’t forget to register [here](insert registration link). Space is limited to 120 participants, so make sure to reserve your place before it’s too late. It’s time to turn your dreams of playing college soccer into a reality.