The Miami-Dade Economy Advocacy Trust (MDEAT) invites Black homeowners to a symposium to recover billions lost in property value. The program includes a fireside chat and policy discussion scheduled for 6 p.m., Thursday, Aug. 11, at Ampersand Studios, located at 31 NE 17th Street in Downtown Miami.
According to U.S. Census data, owner-occupied units in South Florida’s Black-majority neighborhoods are valued at $41,012 less than comparable homes in non-Black majority neighborhoods. This systematic devaluation equates to nearly $2.37 billion in stolen wealth for property owners in Black-majority areas. To reverse this wealth-erasing trend, MDEAT, the premier agency for the economic development of Miami-Dade County’s Black community, is hosting a ‘Know Your Price Valuing Black Lives and Property in Miami’ symposium featuring noted scholar Dr. Andre M. Perry, a senior fellow at the Brookings Institution.
Perry co-authored the Brookings Institute’s groundbreaking study Devaluation of Assets in Black Neighborhood: The case of residential property. Among its assumption-breaking findings, the study reveals that in the average U.S. metropolitan area, homes in neighborhoods with Black-majority populations are valued at roughly half the price of homes in communities with no Black residents. The study further asserts that home and neighborhood quality differences do not fully explain the devaluation of homes in Black neighborhoods.
One of MDEAT’s primary responsibilities is to promote policies that help reduce socioeconomic disparities. MDEAT’s symposium will explore this trend and seek to build a coalition of residents, policymakers, and experts committed to creating policies and solutions that aggressively address and remedy this economic injustice.
For more information or to schedule media interviews, please call Zachary Rinkins, Public Information Officer at 305-375-5652 or zachary.rinkins@miamidade.gov
Original source can be found here.
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