DETROIT (AP) — Home values in Detroit — especially for Black residents — have increased by billions of dollars in the years following the city’s exit from the largest municipal bankruptcy in U.S. history, according to a study released Tuesday.
The University of Michigan Poverty Solutions report says added home value for Black residents increased 80% between 2014 and 2022.
For Black homeowners, estimated home values rose from $3.4 billion to $6.2 billion over that period, while the net value of all owner-occupied homes in the city increased from $4.2 billion to $8.1 billion.
“For decades, Detroit’s homeowners saw their family wealth evaporate as home values declined,” Mayor Mike Duggan said. “Now, those who stayed, most notably Black homeowners, have gained nearly $3 billion in new generational wealth because of our city’s neighborhoods comeback.”
Related articles:
Related suggestion:
Various Folk Cultural Activities Held to Celebrate Lantern Festival in ChinaAcross China: Young People in Hainan Passionate About Traditional Chinese CultureCouples Marry First a Bit Later in HangzhouAcross China: Young People in Hainan Passionate About Traditional Chinese CultureTea Industry Cultivated to Boost Local Farmers' Income in SW ChinaInnovation and Development Demonstrated During Boao ForumNE China City Offers Support to Boost Birth RateNingbo Holds Series of Activities to Enrich Night Life of Citizens, TouristsPeople Enjoy Chinese Lunar New Year Holiday Across ChinaChongqing Launches Variety of Activities at Nighttime to Boost Night Economy
2.426s , 6496.3984375 kb
Copyright © 2024 Powered by Home values rising in Detroit, especially for Black homeowners, study shows ,Global Gazette news portal