Posts

A Call to Action to all First Time Home Buyers

  Owning a home can provide a sense of freedom and stability in the present, as well as the future, and is often viewed as a milestone. While not everyone wants to own a home, many people face barriers that prevent them from becoming homeowners. In previous posts, I have discussed the ways discriminatory redlining strategies continue to impact the community, as well as the market today. This article will describe the extent of the homeownership gap between age and racial groups. If you have not bought your first home, consider these points and research first-time homebuyer programs in your area to help bridge the gap.  A Reduction in New Families Buying Homes An article titled Home Ownership and the American Dream by Laurie S. Goodman and Christopher Mayer provides insight into the ways trends in homeownership have varied over the years. According to the article, studies found that in 1985 married couples with at least one child under 18 were the largest group buying a home at...
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Present Day Impacts of Discriminatory Practice Redlining

  As a realtor and a black man, the history of redlining and the ways it continues to impact communities today is something I strive to be aware of. Understanding the history of the communities I work with is essential for every relationship I build.  The practice of redlining was discovered in the 1960s when it became clear that the government was intentionally not investing in communities of color. This practice directly impacted black families and their ability to purchase a decently priced home that gain equity (Hayes, 2023). Redlining is an inherently discriminatory act that delayed the progress of communities of color for decades to come.  A prime example of the continuous impact of redlining  From the same article, Hayes explains that in 1996, homes in redlined neighbors priced at less than half of the homes the government deemed “best” for lending (Hayes, 2023). Even if you kept your home in a redlined neighborhood after combating things like gentrification, ...
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A Review of Debt Inequality in America

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  Credit is one aspect of financial literacy we have all heard of at least once in our lives because you need it to buy most things. Acquiring credit is exceptionally more difficult when you are low-income because it tends to perpetuate a cycle of dependence. For credit to provide people with success, people must not be forced to use it from a place of scarcity. Credit as an alternative to welfare The article from Rachel E. Dwyer titled “ Credit, Debt, and Inequality " provides information surrounding the presumed purpose for the expansion of credit. The book has a chapter, explaining that credit functioned as a “welfare trade-off” because it gave people access to things like land, housing, education, and insurance without the use of welfare resources.  The article from Dwyer goes on to explain that Americans must make investments that improve security, freedom, and democracy but this can only be achieved with the right kind of credit. As a result, people seek out credit and a...
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The Scarcity Mindset

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  As a longtime entrepreneur, when I think of my previous success, I found that keeping my eyes open to all opportunities and taking calculated risks were key. Those things would have been impossible to do if I was operating out of a scarcity mindset. An article from Very Well Mind describes a scarcity mindset as a persistent feeling that there are not enough resources. This can be time, money, etc (Blanchfield, 2022). If I gave into thoughts that there are never going to be houses available, I would never find my clients their dream home. A scarcity mindset can make people resistant to venture out and make money. This article will describe a scarcity mindset in detail and the impact it can have on your life. Scarcity changes our brains  Developing a scarcity mindset in this world is completely valid because many struggle to meet their basic needs, daily. The article from Blanchfield explains research has found that growing up in poverty has been linked to changes in the brain...
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10 Side Gigs to Make Extra Income in 2024

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Taking up a side gig requires extensive preparation and research because it has to be worth the extra time and provide the payout you want. If you are in the wrong side gig, you can easily waste your time and drift further from your goals. Investing extra time in a side gig can help you move closer to your financial success because it can help you pay off any debt, build an emergency fund, or purchase an insurance policy to protect your family.. Things to consider when searching for your side gig Be sure to look for flexible side gigs to be sure it works with the job you already have and your days run smoothly.  You may also want to look for a job that has the potential to make extra money (commission, overtime/extra hours) in case you need more money than expected. Search for a position with good benefits or discounts. For example, if you are taking up another job to lower your monthly bills, you may choose a grocery store to get a discount on your groceries.  No job is too g...
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