@Tim G.
I would like to commend you on your own awareness of privilege on this issue and seeking to do your part to make a difference. I’d love to connect with you on some future ideas on this front.
In all honesty, I saw this topic and was almost afraid to walk into the room and read the responses I expected to find. I must say that I am pleasantly surprised to see thoughtful dialogue. There are some responses that completely miss the mark that I won’t entertain but instead offer a suggestion.
If you want to understand what systematic racism and oppression has meant for the black community, I highly suggest you read The Color of Money by Mehrsa Baradaran. FHA loans were introduced in 1934 and propelled working class white Americans into the middle class. Black Americans weren't able to take advantage of these loans until 34 years later in 1968.
I personally find it offensive when neighborhoods are looked down upon as “war zones” when they were designed that way to keep the poor contained within. I likewise understand why investors avoid these communities and therein lies the problem. Nobody invests in these communities until they becomes the site of redevelopment because location, location, location. The reason gentrification is looked down upon is not because of the redevelopment and all the new amenities coming to the area. It’s the fact that the poor people who’ve lived there for generations as renters finally getting an opportunity to have nice amenities and safe neighborhoods. How ever they immediately get pushed out as rents price them out of the neighborhood as it begins to turnaround.
What am I doing? Currently educating myself on investing with the ultimate plan to develop a mentorship program and teach investing. My wife and I own our home in Los Angeles but come from two different backgrounds. In recent years, my wife has made me aware of my Black privilege. I grew up in a stable home in New Orleans with both of my parents.
My wife grew up in south central Los Angeles in the 90s. Her father went to prison for 17 yrs when she was about 8 yrs old. And her mother, with a high school education, was left to raise 3 children. My wife’s uncles (her dad’s only two other siblings) also did time in prison. Her uncle (mother’s side of the family) also spent decades in prison and her aunt (mother’s side) has been a drug addict and prostitute her whole life. How did these obstacles affect her? She had a natural love or learning and it sheltered her from what was going on around her. She earned a full scholarship to college, went on to get a masters in communication from The University of Southern California, received her J.D. from Southwestern Law School in LA, and is now a licensed attorney working in entertainment.
Our stories are vastly different but I’ve recognized how fortunate my childhood was compared to hers. We have two children, 4 and 2 who will reap the benefits of our hard work. However it is absolutely our responsibility to give back to the communities we came from. We currently work with a nonprofit that does outreach here in South Central LA. Our kids are right there with us so they can recognize their privilege at an early age and know it is their responsibility to help others.
