Are you serious??
Wherever black folks are concentrated the home values will be low. Black folks literally destroy wealth, and not because of some flaw with us. That's why their is white flight. Institutional racism makes black folks a contagion to wealth.
from What We Get Wrong About Closing the Racial Wealth Gap
Myth 2: The racial homeownership gap is the “driver” of the racial wealth gap
5 Richard Rothstein (2017) has made the following observation in a recent book on the racialized character of post-World War II social mobility policies:
"The Color of Law is concerned with consistent government policy that was employed in the mid-twentieth century to enforce residential racial segregation. There were many specific government actions that prevented African Americans and whites from living among one another, and I categorize them as unconstitutional...
For example, many African American World War II veterans did not apply for government-guaranteed mortgages for suburban purchases because they knew the Veterans Administration would reject them on account of their race, so applications were pointless. Those veterans then did not gain wealth from home equity appreciation as did white veterans, and their descendants could not inherit that wealth as did white veterans’ descendants.
Further, the racialized history of housing policy in the U.S., including residential segregation, redlining, and discriminatory credit practices, have exacerbated inequality in wealth and homeownership rates and have also contributed to the rate of return on the asset itself.
Part of the persistent wealth-gap across homeownership status may be explained by the fact that a home is one of the only assets in which the race of the owner affects the rate of return."
