Notes
1 In Know Your Price: Valuing Black Lives and Property in America’s Black Cities (Washington, DC: Brookings Institution Press, 2020), Andre M. Perry examines how deliberate devaluation of Black-owned homes and real estate served as an effective form of institutional racism, keeping Black families from holding a place in the middle class alongside white counterparts.
2 Nikishka Iyengar and John Haines, “Preparing for the Post-COVID-19 Land Grab,” Next City, June 3, 2020.
3 Considerable evidence suggests that low-income households not only are capable of setting aside sufficient sums but routinely take risks to get ahead financially. See, for example, Jonathan Morduch and Rachel Schneider, The Financial Diaries: How American Families Cope in a World of Uncertainty (Princeton, New Jersey: Princeton University Press, 2017). Other studies cite multiple reasons why people of modest means do not entrust precious savings to mutual funds or other investment vehicles. Most often, they report being intimidated by the complexity of their financial choices or deterred by minimum investment requirements.
4 Larry Fondation, Peter Tufano, and Patricia H. Walker, “Collaborating with Congregations: Opportunities for Financial Services in the Inner City,” Harvard Business Review, July-August 1999.
5 In Dealing with Neighborhood Change: A Primer on Gentrification and Policy Choices, a report prepared by PolicyLink for the Brookings Institution, Maureen Kennedy and Paul Leonard argue compellingly that these indicators and others can reliably anticipate where gentrification will likely occur.
6 For a fuller discussion, see “How States Can Empower Local Ownership for a Just Recovery,” by Elwood Hopkins, Jennifer S. Vey, and Tracy Hadden Loh. The article is part of Brookings’ COVID-19 Metro Recovery Watch.
7 See Community Investment Funds: A How-To Guide for Building Local Wealth, Equity, and Justice, by Brian Beckon et al., a publication of the National Coalition for Community Capital and The Solidago Foundation, 2018.