Community ownership of real estate

For as long inequities in wealth and property ownership have existed, economically excluded populations have piloted collective ownership models. From communal farming plots to community land trusts, these models create new power structures that balance outcomes like wealth-building, preserving affordability, and fostering community-led development [[For as long inequities in wealth and property ownership have existed, economically excluded populations have piloted collective ownership models. From communal farming plots to community land trusts, these models create new power structures that balance outcomes like wealth-building, preserving affordability, and fostering community-led development]]

Much has been written about racial disparities in residential real estate, but until recently, almost no research has focused on commercial real estate and race. Brookings’s recent study “The devaluation of assets in Black neighborhoods: The case of commercial property” helps fill this gap. It finds that just like the housing market, commercial real estate is plagued by racial disparities, with Black and white households having disproportionate rates of commercial property ownership (3% and 8%, respectively). Moreover, for those households that do own commercial property, the average white household owns $34,000 worth, compared to just $3,600 for the average Black household.

Devaluation of assets in Black neighborhoods link to Brookings report [[1]]