Homeownership still remains the primary driver of household wealth, but in majority-Black neighborhoods these residences are worth 23% less, or an average of $48,000 per home, than comparable homes with very few or no Black residents due to low appraisals. Primary residences are the largest asset among households across all age groups, except for the 55-64 year old demographic. However, such an investment is merely four stale walls and a roof, if one cannot act upon that investment because of a low appraisal value. Wachu’ mean Rich? Ok, let me break it down.
By Richard Johnson Love (Sean Diddy Combs’ new name), has won a bid to buy his Sean John brand out of bankruptcy for $7.5M Global Brands Group, which owns 90% of the Sean John brand through a joint venture with Love, filed for Chapter 11 in New York Love (Sean Diddy Combs’ new name), has
By Richard Johnson About 15.4% of single-family properties in majority-Latino census tracts and 12.5% of homes in majority-Black areas appraised lower than their contracted price With every 1% increase in the proportion of the Black population for a particular zip code, there is an estimated decrease in home values of $2,581 Homeownership still remains the
By Richard Johnson College dorm and apartment furniture spending is up 25% to $422 in 2021 75% of households are in similar or better financial situations than they were in 2020 College pays off, but not before you pay first. Student’s returning to campus will be accompanied by heftier expenses than years prior, with dorm
By Richard Johnson Jay-Z joins hands with Blackstone on a deal to buy Certified Collectibles Group The Global Sports Trading Card Market is projected to reach $87.7B by 2027 As much as I want to say HOV is “at it again”, Jay-Z’s continued investment deals have become the Roc Nation’s founder’s new norm. The hip-hop
By Richard Johnson The NFL will no longer use “race-norming” as part of its $1B settlement 2000 NFL retirees (the majority of whom are Black) filed dementia claims, yet less than 30% of them have received any monetary compensation The NFL announced it will no longer use “race-norming” as part of its $1 billion settlement
By Richard Johnson NFT sales up 55% since 2020 from $250M to $389M The roughly $6B hip hop industry is entering the crypto arena Dripped in extravagance, there is one thing music artists, entertainers, athletes and the like have always been able to do, and that is capitalize on all things trending. From the auctioning
By Richard Johnson Jay-Z strikes a deal with LVMH worth over $600M for his Armand de Brignac This deal could facilitate cross-pollination into the sports world for LVMH and Jay-Z’s Roc Nation Sports LVMH’s Moet Hennesy (LMUY +2.55%) has purchased 50% of Jay-Z’s Armand de Brignac, a deal that could facilitate cross-pollination into the sports
Black and Latinx women startup founders continue to display the resiliency that has long been in existence throughout their communities and received a reported 31% increase in venture capital funding in excess of $1 million from 2018-2020.