THE COLOR OF HOMEOWNERSHIP

In this guide, a financial adviser points to homeownership as the key to increasing generational wealth in Black and brown communities.

With a Ph.D. in psychology, Brown is well aware of the motivations behind how people spend or save their money. In addition to this academic background, this work draws on her own personal and family experiences with homeownership, entrepreneurship, and financial literacy as an African American woman. Too many individuals, she argues, are plagued with “acid reflux” in their pockets. As the adage goes, most of what they earn burns a hole in their pockets. If people want to live the “Post Pandemic American Dream” of “Credit Cards, Cash, and Cadillacs,” the author emphasizes they must become financially savvy in researching investment trends such as cryptocurrency, attending college, and, most importantly, buying a house, which would “impact the generations to come.” Brown is the founder and owner of Fresh Community Development Inc., an organization devoted to providing affordable financial literature and services to low-income families; this guide is an important addition to her reference materials. At just over 100 pages, this concise volume provides practical advice on the benefits of property ownership versus rent as well as sensible, if basic, tips on how to save, spend, and invest, irrespective of one’s economic class. Though there is certainly a racial component to the narrative that emphasizes ownership as a key to assuaging generational poverty, the book does not dwell on the historical contexts or systemic barriers to the purchase of a home. While it offers crucial information to understanding American residential history, this volume is not intended as an indictment of capitalism or racism. Instead, the author is laser focused on individual responsibility and actions where “we all have a role to play” in alleviating poverty. Brown’s conversational prose style borrows heavily from the inspirational lingo of self-help books. In addition, the manual delivers ample references to pop culture, zodiac signs, and Christianity designed to motivate and educate readers to reconsider their spending habits and financial goals.

A useful primer on the benefits of homeownership to low-income communities.