Editors Pick

Top Cities Where African Americans Thrive Economically

The post Top Cities Where African Americans Thrive Economically appeared first on The Network Journal. In 2007, the U.S. and European countries were faced with a housing crisis which had long lasting consequences on their economies. This crisis particularly affected the Hispanics and the African-Americans. The U.S. entered a deep recession that lasted for over 6 years. This was caused by a massive downslide in home prices after the crumble of housing bubbles, which led to mortgage delinquencies and declines in housing investments. Different levels of blames were assigned to financial institutions, regulators, government housing policies, and even credit agencies which were said to have been the cause of the crisis. Despite the rise in the increase of the housing speculation experienced for sometimes now, The rate of unemployment among the African-Americans has drastically reduced to 6.8%. This has been the lowest record since 1972. It’s a 3.1% ill than that of the whites. After the end of the recession in 2014, a labor market arose in 2015 which has boosted the wages of black workers. Also, employment was also made available to the blacks in manufacturing industries. The financial markets which were made volatile began to go back in place. Although the gaps in income between the blacks and the white is still considerably high, the drop in the level of unemployment to a reasonable amount is worth being celebrated. Donald Trump, the U.S. president has taken the honor for this news, more credits should be given to the provinces and states that have made the advancement of the blacks possible. Places where black people are doing best economically This was ranked by Forbes. When Forbes began its annual ranking, many people assumed the list would be full of places in the north. But apparently, the south is where the African-Americans are thriving best economically. Places like Atlanta, San Antonio in Texas, Richmond, Miami, Orlando and Charlotte among others were all found in the north. Atlanta happens to be the place where African-Americans thrive The Best economically. Forbes measured the statistical data for the 53 largest metro areas in the country. Four criteria were used to determine how the African-American population was thriving in each city: median house income the home ownership rate entrepreneurship which was measured based on self-employment rate demographic trends. This was measured using the change in the African-American population from 2010 to 2016 in these metropolitan areas. Atlanta happens to be the place where African-Americans thrive the best economically. This is because of its well established religious and educational institutions. Atlanta has the strongest infrastructure which has brought about the advancement of the African-American. The region’s beautiful art scene and strong music have also made it an epicenter for the black culture. It’s obvious that Atlanta area appeal can be seen in the growth of the black population, up to 50% from the year 2000 to 2013. This is above the 28% average growth in the African-American population in the nation’s 53 biggest metropolitan areas during the same time. A median household income of $41,800 and 20% rate of self-employment is clear evidence. In our rankings, Austin, Texas, Baltimore and Raleigh, N.C., all follow Atlanta and Washington. Southern cities fill up the rest of the top 20 except for the 19th place which is occupied by Boston. There are two significant factors with which the rankings are obtained: the criteria for becoming a middle class, self-employment and ownership of the home. The rate of homeownership for the top 10 is over 41 percent, which is the average for black national. (The national average for all ethnicities is higher than the national average by a third.) The population of the black community in San Francisco has dropped by 6.3% since 2010. The same is also true for income. According to Pete Saunders who is a contributor to Forbes as well as an analyst, since 2010, the income of the black population within the rapidly developing Sun Belt regions has experienced a speedy rise. Areas under discussion include Austin, Raleigh, and Nashville. In places where other ethnicities are developing, there has been a massive increase in income. Other areas which follow the trend in Washington include Silicon Valley capital, San Jose with an annual household income of $65,400 and No. 4 Baltimore with $53,200. The New Great Migration The growth in population is one of the main pointers to a trend relating to African-Americans. In the early 20th century, places like Chicago, New York, St. Louis, and Los Angeles were target destinations of about 6 million black migrants who were heading west and north out of the southern regions during the Great Migration. In contrast to this historical event, there has been a change in the last six years with African-Americans moving out of some of these locations. In cities where the industrial cores are crumbling such as in Milwaukee, Cleveland, Pittsburgh, and Detroit, the trend is also being observed. Sun Belt and Southern regions like Austin, Las Vegas, Phoenix, and Dallas-Fort Worth, are a few metro areas which have had an influx of African-Americans since 2010. There are different reasons why blacks leave various areas. Some are a result of an increase in the cost of housing while getting better opportunities economically is the main reason why others leave. The home ownership rate for blacks in places like San Francisco and Los Angeles is lower by 9 percent when compared to the average of major metro cities. The population of the black community in San Francisco has dropped by 6.3% since 2010. This is largely due to the increased cost of houses caused by tech workers. Compared to other parts of the country, since 1995, home prices cost 3.5 times more than the income of the population in California. It has been concluded that this is a result of the housing regulations and strict land-use which make the state particularly difficult. With home ownership rates of Asians remaining as it has been, that for African-Americans is down 17% while Hispanics and non-Hispanic whites are down by 11% and 6% respectively in the Golden State. The prices of homes for blacks compared to that of non-Hispanic whites is two to nine times of their annual income higher for citizens in coastal California. In Pete Saunders’ observation, he stated that similar to the behavior of other Americans, the Black population will keep searching for cities in which the growth rate is high and the cost of living is low, so they can migrate. The low prices of homes and the number of choices available are driven by the housing and land use policies. These policies also enable the creation of jobs and investment in a business. The opportunities available to people is what keeps attracting Blacks to these areas. This means that the situation has now been reversed. Unlike during the Great Migration, people are now moving back to some of the areas which they left. These areas are more beneficial to blacks than the areas which they sought after in the past. The post Top Cities Where African Americans Thrive Economically appeared first on The Network Journal.

The post Top Cities Where African Americans Thrive Economically appeared first on The Network Journal.

In 2007, the U.S. and European countries were faced with a housing crisis which had long lasting consequences on their economies. This crisis particularly affected the Hispanics and the African-Americans. The U.S. entered a deep recession that lasted for over 6 years.

This was caused by a massive downslide in home prices after the crumble of housing bubbles, which led to mortgage delinquencies and declines in housing investments.

Different levels of blames were assigned to financial institutions, regulators, government housing policies, and even credit agencies which were said to have been the cause of the crisis.

Despite the rise in the increase of the housing speculation experienced for sometimes now, The rate of unemployment among the African-Americans has drastically reduced to 6.8%. This has been the lowest record since 1972. It’s a 3.1% ill than that of the whites. After the end of the recession in 2014, a labor market arose in 2015 which has boosted the wages of black workers. Also, employment was also made available to the blacks in manufacturing industries. The financial markets which were made volatile began to go back in place.

Although the gaps in income between the blacks and the white is still considerably high, the drop in the level of unemployment to a reasonable amount is worth being celebrated. Donald Trump, the U.S. president has taken the honor for this news, more credits should be given to the provinces and states that have made the advancement of the blacks possible.

Places where black people are doing best economically

This was ranked by Forbes. When Forbes began its annual ranking, many people assumed the list would be full of places in the north. But apparently, the south is where the African-Americans are thriving best economically. Places like Atlanta, San Antonio in Texas, Richmond, Miami, Orlando and Charlotte among others were all found in the north.

Atlanta happens to be the place where African-Americans thrive The Best economically.

Forbes measured the statistical data for the 53 largest metro areas in the country. Four criteria were used to determine how the African-American population was thriving in each city:

  • median house income
  • the home ownership rate
  • entrepreneurship which was measured based on self-employment rate
  • demographic trends. This was measured using the change in the African-American population from 2010 to 2016 in these metropolitan areas.

Atlanta happens to be the place where African-Americans thrive the best economically. This is because of its well established religious and educational institutions. Atlanta has the strongest infrastructure which has brought about the advancement of the African-American. The region’s beautiful art scene and strong music have also made it an epicenter for the black culture.

It’s obvious that Atlanta area appeal can be seen in the growth of the black population, up to 50% from the year 2000 to 2013. This is above the 28% average growth in the African-American population in the nation’s 53 biggest metropolitan areas during the same time. A median household income of $41,800 and 20% rate of self-employment is clear evidence.

In our rankings, Austin, Texas, Baltimore and Raleigh, N.C., all follow Atlanta and Washington. Southern cities fill up the rest of the top 20 except for the 19th place which is occupied by Boston.

There are two significant factors with which the rankings are obtained: the criteria for becoming a middle class, self-employment and ownership of the home. The rate of homeownership for the top 10 is over 41 percent, which is the average for black national. (The national average for all ethnicities is higher than the national average by a third.)

The population of the black community in San Francisco has dropped by 6.3% since 2010.

The same is also true for income. According to Pete Saunders who is a contributor to Forbes as well as an analyst, since 2010, the income of the black population within the rapidly developing Sun Belt regions has experienced a speedy rise. Areas under discussion include Austin, Raleigh, and Nashville. In places where other ethnicities are developing, there has been a massive increase in income. Other areas which follow the trend in Washington include Silicon Valley capital, San Jose with an annual household income of $65,400 and No. 4 Baltimore with $53,200.

The New Great Migration

The growth in population is one of the main pointers to a trend relating to African-Americans. In the early 20th century, places like Chicago, New York, St. Louis, and Los Angeles were target destinations of about 6 million black migrants who were heading west and north out of the southern regions during the Great Migration. In contrast to this historical event, there has been a change in the last six years with African-Americans moving out of some of these locations. In cities where the industrial cores are crumbling such as in Milwaukee, Cleveland, Pittsburgh, and Detroit, the trend is also being observed.

Sun Belt and Southern regions like Austin, Las Vegas, Phoenix, and Dallas-Fort Worth, are a few metro areas which have had an influx of African-Americans since 2010.

There are different reasons why blacks leave various areas. Some are a result of an increase in the cost of housing while getting better opportunities economically is the main reason why others leave. The home ownership rate for blacks in places like San Francisco and Los Angeles is lower by 9 percent when compared to the average of major metro cities.

The population of the black community in San Francisco has dropped by 6.3% since 2010. This is largely due to the increased cost of houses caused by tech workers.

Compared to other parts of the country, since 1995, home prices cost 3.5 times more than the income of the population in California. It has been concluded that this is a result of the housing regulations and strict land-use which make the state particularly difficult. With home ownership rates of Asians remaining as it has been, that for African-Americans is down 17% while Hispanics and non-Hispanic whites are down by 11% and 6% respectively in the Golden State. The prices of homes for blacks compared to that of non-Hispanic whites is two to nine times of their annual income higher for citizens in coastal California.

In Pete Saunders’ observation, he stated that similar to the behavior of other Americans, the Black population will keep searching for cities in which the growth rate is high and the cost of living is low, so they can migrate. The low prices of homes and the number of choices available are driven by the housing and land use policies. These policies also enable the creation of jobs and investment in a business. The opportunities available to people is what keeps attracting Blacks to these areas.

This means that the situation has now been reversed. Unlike during the Great Migration, people are now moving back to some of the areas which they left. These areas are more beneficial to blacks than the areas which they sought after in the past.

The post Top Cities Where African Americans Thrive Economically appeared first on The Network Journal.

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Top Cities Where African Americans Thrive Economically

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