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Black homes in Minneapolis are worth around $33,000 less than white ones. Here's how one expert says racism devalues black neighborhoods across the country.

Black homes in Minneapolis are worth around $33,000 less than white ones. Here's how one expert says racism devalues black neighborhoods across the country.
FREDERIC J. BROWN/AFP via Getty Images



Economic inequality has been thrust into the forefront over the past week.




Black Americans lag behind whites on many indicators, particularly on homeownership.




A report from the Brookings Institute released last year found that each black home was undervalued by $48,000 on average.




One expert called it "a major extractor of wealth."




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Black Lives Matter demonstrations have grown larger in recent days, as calls mount for criminal justice reform. They were touched off after George Floyd, a black man, was killed in Minneapolis by a white police officer who knelt on his neck for more than eight minutes.
The ongoing protests, however, are also shedding light on persistent economic inequalities that black Americans have experienced for generations.
African-Americans lag behind whites on many indicators of economic health, and homeownership is a notable one. The Census Bureau recently reported the black homeownership rate stood at 44% in the first quarter of the year, dropping from its peak of nearly half in 2004. In stark contrast, the level of white homeownership was 73.7% — a gap of nearly 30 percentage points.
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