It’s a scenario many Black people are familiar with: Your grandparents pass away and leave you the family home. You’re excited to keep the house in the family, but then you start getting offers from buyers who want to tear it down and build something new.
Our neighborhoods are being gentrified, and Black-owned businesses are being pushed out. Families who have lived in their homes for generations are now being forced to sell. We can’t let this happen! It is more important than ever that we preserve our generational wealth.
Developers are buying up property, forcing families out of their homes, and turning our communities into gentrified areas. This is happening in cities all across the country, but it is hitting Black and Brown neighborhoods the hardest.
Families who have lived in their homes for generations are being forced to sell because they can no longer afford the rising property taxes. This is not only displacing families, but it is also erasing our history. We can’t let this happen! It is more important than ever that we preserve our generational wealth.
In order to protect our community from gentrification, we must first understand what it is and how it happens. Gentrification is the process of renovating and improving a neighborhood, often resulting in the displacement of low-income residents. It is important to note that gentrification is not just about physical changes to a community. It also refers to the socioeconomic changes that occur when wealthier people move into an area.
There are several factors that contribute to gentrification, but the most common is developers buying up property. This often happens in areas that are considered “blighted” or “up-and-coming.” Developers will renovate these properties and then sell them at a higher price, which drives up property values in the area. As property values increase, so do property taxes. This can price low-income residents out of their homes, as they can no longer afford the higher taxes.
Another factor that contributes to gentrification is the influx of new businesses and amenities into an area. When new businesses move in, they often cater to a higher-income clientele. This can drive up rents and force long-time residents out of their homes.
So what can we do to stop gentrification in our communities? It starts with education. We must educate ourselves on the issue and then work to educate our neighbors. It is important that we all understand what is happening and why it is happening. Once we have a shared understanding, we can start to brainstorm solutions.
There are several things we can do to combat gentrification. One is to support black-owned businesses in our community. When we spend our money with black-owned businesses, we help to keep our money circulating in our community. This is one of the most effective ways to preserve generational wealth.
Another way to combat gentrification is to get involved in your local government. Attend city council meetings and voice your concerns about gentrification. Let your elected officials know that you are paying attention and that you expect them to take action.
You can also join or start a community organization. This is a great way to build relationships with your neighbors and work together to keep your community strong.
Finally, remember that YOU are the key to preserving our generational wealth. We must work together to keep our community alive and thriving.
If you have any questions or would like more information on this topic, please feel free to reach out to us. We are here to help!