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Black Homeowners In Detroit, MI, Have Gained Nearly $3B In Home Value, Report Says

A new report has shown celebratory news for Detroit, MI. “The Growth of Housing Wealth in Detroit and its Neighborhoods: 2014-2022,” a study by the University of Michigan Poverty Solutions, has been released showing that Black homeowners in Detroit have “gained $2.8 billion in home value,” per a news release.   View this post on Instagram   A post shared by City of Detroit (@cityofdetroit) Beginning in 2014, the study was conducted after Detroit’s municipal bankruptcy. In July 2013, Detroit became “the largest U.S. city to file for bankruptcy,” per AP News. The news release details that the study had a goal of finding out if the city’s housing values had seen growth across those nine years, and if these improvements had been fairly distributed across Detroit neighborhoods and racial/ethnic groups. With an 94% overall increase in home value, and 80% increase for Black homeowners specifically, since the study started, Detroit Mayor Mike Duggan credits residents stabilizing...

Ngozi Nwanji

Apr 22, 2024

NBA Player Reggie Bullock Purchases $2M Private Island In Belize To Build Generational Wealth

NBA player Reggie Bullock acquired an island with the goal of building generational wealth.

Samantha Dorisca

Oct 25, 2023

DJ Envy And Other Real Estate Investors Allegedly Lost Big In '$40 Million Ponzi Scheme'

Raashaun Casey, more commonly known as DJ Envy, reportedly lost $500,000 in a property investment after promoting a real estate venture with his business partner Cesar Pina, per NBC-4 New York.

Samantha Dorisca

Oct 11, 2023

Rotimi Shares The Investment He Made After Not Touching His 'Power' Checks For 6 Seasons

Implementing a lesson learned in his life helped make Rotimi’s finances stay in the green.

Ngozi Nwanji

Jul 25, 2023

Rick Ross Surprises Meek Mill By Buying His Atlanta Home That Was On The Market For Over 2 Years

Rick Ross is known as the biggest boss, and he just leveled up once again with an addition to his real estate portfolio. The “Hustlin'” rapper has purchased Meek Mill’s former mansion for a whopping $4.2 million.

Josh Rodgers

Apr 13, 2023

Chad Johnson Says He Lived At Paul Brown Stadium While Playing For The Bengals — 'I Ain't Want To Spend No Money'

Owning a home is a dream for many people. Whether for building generational wealth or simply having something to call your own, having a home is a top-tier goal people aspire to despite a volatile real estate market. Former NFL superstar Chad Ochocinco Johnson would agree, but his approach is much different. With homeownership being a part of wealth goals and personal dreams, those interested in the pursuit often want to make the most economical decision to avoid overspending and facing extremely high-interest rates. One of the ways to help mitigate those issues is to have a solid savings plan, complete due diligence on the prospective neighborhood, and decrease spending until the closing process is complete. Some would venture to believe that once a person reaches a certain tax bracket, the idea of being modest with income goes out of the window, mainly as you think about real estate. Across several industries, people have witnessed some of the world’s most influential people...

Josh Rodgers

Feb 21, 2023

This Managing Broker Says Real Estate Bumped Her Net Worth Up To Over $500K In Nearly 5 Years

When it comes to closing the wealth gap, many believe in the power of strategically investing in real estate. And the proof may be in the pudding for Tiffanie Vendryes, who says her net worth exponentially grew once she ventured into the space.

Ngozi Nwanji

Feb 3, 2023

How Former NBA Player Trevor Booker Turned A Training Camp Into An International Boarding School

Former NBA player Trevor Booker scaled a $2,000 investment into a nearly 60 acre campus actively supporting young athletes.

Samantha Dorisca

Jan 26, 2023

How Knowledge Gained From Working For The Late Michael Jackson Led Two Founders To Success In Real Estate

After working for the late Michael Jackson, Faheem Muhammad and Michael Amir’s acquired knowledge over the years served as a launching pad to help underserved communities. “Mr. Jackson was always mission-driven. Everything he did had a purpose, which was to do what he could to make the world a better place,” Amir told AfroTech in an email interview. In the past, Muhammad worked for Jackson as head of security and Amir worked as the icon’s chief of staff. Now, the duo has found their contribution to fostering a more improved society by forging a business partnership alongside other close friends to create Oasis, a real estate investment , and development company. Oasis has a focus on the South Side of Chicago, as they saw a clear pathway to revisit the demographics they often saw in dire need during their upbringing.

Samantha Dorisca

Dec 7, 2022

Rich Homie Quan Reveals How He Made Over $1M Last Year Without 'A Music Check Involved'

The era when Rich Homie Quan was a force in Hip-Hop is one to reminisce about. Unfortunately, the Atlanta rapper’s takeover was unexpectedly cut short after he sued his former label, Think It’s A Game Entertainment, for allegedly swindling him out of $2 million, per TMZ. The lawsuit is still ongoing, but it didn’t stop him from setting out on his own path.

Ngozi Nwanji

Dec 2, 2022

How Tyler Perry's 'Sistas' Actress Crystal Hayslett Is Leveraging Her Network To Build Her Net Worth

One of the many things Beyoncé is excellent at is providing music that speaks to specific feelings and placements in life. She is particularly keen on doing this with women empowerment, and her latest album, “Renaissance,” is no different. She opens the project with “I’m That Girl,” a celebratory ode expressing her confidence and cultural space. And with captions and reels all over Instagram that use this song as inspiration, many women fully embrace the song’s message. Actress Crystal Hayslett is one of those women that has fully tapped in. The “Sistas” and “Zatima” actress recently sat with AfroTech to discuss her range and versatility, breaking down why she is, in fact, that girl.

Josh Rodgers

Nov 23, 2022

How Milan Rouge Exceeded An Investment Goal By Buying 12 Properties In 15 Months

Milan Rouge isn’t only a boss in the fashion world, but also in real estate.

Ngozi Nwanji

Nov 14, 2022

T.I. Gears Up To Create His First Real Estate Development, Affordable Housing In The Bankhead Community Where He Grew Up

T.I. is using his interest in real estate to directly benefit the people in his community.

Samantha Dorisca

Oct 10, 2022