White Millennials are about to start inheriting a lot of money…

[King Poetic]

I been saying this

I know so many white folks that lives in the valley, Hollywood hills and Orange County that inherited homes and you’ll be surprised they salary is 50k a year in a million dollar home and so many of us black folks think they went out and bought it..

Between inheriting homes and life insurance policies in place that’s what keeping us behind for the children

So many of my uncles and aunts didn’t leave shyt for their kids

 

[UncleTomFord15]

Why weren't black people born in the late 60s/70s/ early 80s buying up these properties as well?

 

[lib123]

They are inheriting a house. It's just not fully paid off

Still better than people who inherit nothing.

Many won’t be able to keep the houses they’re inheriting and will also get nothing after their parents estate settles their debts.

 

[King Poetic]

Why weren't black people born in the late 60s/70s/80s buying up these properties as well?

If u noticed, because so many of us was looking to get away from the hoods and move to white neighborhoods

Can u imagine today , the homes that was 20,30,40k in back in the day in hoods would be worth today if black people didn’t try to escape the hood and fought together to get the drug dealers out .. those home values and the neighborhood would have your home value at 100k or more today

 

[Stuntone]

Most of these youngsters are going to sell these homes for Bling and Cars so they can stunt on IG.

 

[UncleTomFord15]

If u noticed, because so many of us was looking to get away from the hoods and move to white neighborhoods

Can u imagine today , the homes that was 20,30,40k in back in the day in hoods would be worth today if black people didn’t try to escape the hood and fought together to get the drug dealers out .. those home values and the neighborhood would have your home value at 100k or more today

The building I originally lived in in Brooklyn before we moved out to a better neighborhood was bought for 25k in the 80s. Today it's worth 1.3 million.

 

[lib123]

Reverse mortgages are going to fukk over so many people, but I don’t think their parents would have been able to keep the house when they were alive if not for it.

The consistent transfer of wealth from the working class to the wealthy via institutional manipulation, inflation, and debt creation, has been nonstop since the 1970’s.

Facts. Aren’t there reverse mortgages where they make low payments until homeowner dies? Seems like a major wealth transfer to financial institutions.

 

[CBalla]

I been saying this

I know so many white folks that lives in the valley, Hollywood hills and Orange County that inherited homes and you’ll be surprised they salary is 50k a year in a million dollar home and so many of us black folks think they went out and bought it..

Between inheriting homes and life insurance policies in place that’s what keeping us behind for the children

So many of my uncles and aunts didn’t leave shyt for their kids

Why weren't black people born in the late 60s/70s/ early 80s buying up these properties as well?

my fam on one side was too busy being in the streets, chasing p*ssy, smoking crack, doing coke, not being educated, and hating on one another

not they finna sell granny house and split it hella ways and increase the probability of homelessness for at risk folks in our family

 

[WetinBeDat]

What's the average value of a home? Divide that by 2 (or more depending on the amount of children you have).

That isn't generational wealth. Generational wealth is in the order of millions and tens of millions. You ain't getting that out your residential home, sorry.

Heavily depends on the location but it's doable. My parents bought a place and in about 6 years had 7 figs in equity.

 

[Blessings]

 

[Pazzy]

i dont see that happening. Crypto, digital currency, hyperinflation and a whole lot of drama about to turn that wealth inheritence into shyt. And a lot of it has to do with not putting the foot down.

 

[Trojan 24]

i dont see that happening. Crypto, digital currency, hyperinflation and a whole lot of drama about to turn that wealth inheritence into shyt. And a lot of it has to do with not putting the foot down.

It's already happened, I've seen so many goofy cacs in So-Cal with average jobs or are "artist/musicians/actor/entrepreneurs" and then you find out they live in a multi-million dollar home or luxury apartments/condos

 

[Pazzy]

It's already happened, I've seen so many goofy cacs in So-Cal with average jobs or are "artist/musicians/actor/entrepreneurs" and then you find out they live in a multi-million dollar home or luxury apartments/condos

No it hasnt.

 

[lib123]

i dont see that happening. Crypto, digital currency, hyperinflation and a whole lot of drama about to turn that wealth inheritence into shyt. And a lot of it has to do with not putting the foot down.

Yeah unfortunately the time to build serious widespread wealth in the Black community was in the 70s and 80s when cost of living was still very low and before consumer technology took off. Now it’s impossible without reparations.

 

[Blessings]

No it hasnt.

It's already happened.
I have seen it in Denver, LA, Phoenix/Scottsdale, Seattle, Portland, Austin, Dallas, NYC, etc