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Black-owned U.S. businesses have failed at a disproportionately higher rate than those owned by whites during the coronavirus epidemic possibly because they were in poorer financial shape, less ...
Baker acknowledged that Illinois’ current real estate inventory situation is a crisis. But he added that Illinois Realtors has been working to brighten the outlook by advocating for public ...
2020s commercial real estate distress was a worldwide spike in commercial real estate distress that began in the 2020s in the wake of the COVID-19 pandemic and interest rates hikes by central banks in response to the 2021 inflation crisis. Although the increase in distress occurred globally it was most acute in the United States and China.
Blockbusting was a business practice in the United States in which real estate agents and building developers convinced residents in a particular area to sell their property at below-market prices. This was achieved by fearmongering the homeowners, telling them that racial minorities would soon be moving into their neighborhoods.
The real estate industry has been in flux for the past few years, making buying a home a challenge. While prices are stabilizing in some markets, certain cities in Illinois continue to be hot, and...
The result of this is the direct (longer forced closure, COVID-19 symptoms) and indirect (social distancing, fewer customers) changes on the black-owned businesses. The Paycheck Protection Program , which has $670 billion in loans to help small businesses, saw less volume of their loans go through the program to high concentrated areas of black ...
In October 2020, the KFF/Undefeated Survey on Race and Health found that 50% of Black respondents (compared to 42% White respondents) reported that they had lost a job or had their income reduced as a result of COVID-19. Moreover, 32% Black respondents reported that COVID-19 had a major impact on their ability to care for children (compared to ...
The White House and the Department of Housing and Urban Development have heard the arresting stories of Black people’s homes’ being underappraised by up to $500,000 and Black homeowners ...