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Black Americans Pay More For Homes Than Any Other Group: Study Finds

A new study from MIT has found that Black Americans pay more for homeownership than any other group.

Black Americans, HomeownershipJoe Raedle / Getty Images

The study, conducted by Edward Golding, executive director of the MIT Golub Center for Finance and Policy, reports that Black Americans pay more for mortgage interest, mortgage insurance, and property taxes than other homeowners.

The disparities are as follows: $743 per year in mortgage interest payments, $550 a year mortgage insurance premiums, and$390 per year in property taxes. All-in-all this accounts for a $67,320 loss in retirement savings for Black homeowners over 30 years.

“The small differences compounding over the life of the mortgage and during homeownership can add up,” writes Golding. “Even if it is a few hundred dollars a year here and there, it can amount to another year’s salary families would otherwise have.”

“While mortgage costs are determined by markets to some extent,” said Golding, “there is a great deal of public policy that influences these rates, especially as it impacts people of color. We can and should address these issues at a policy level and start now to eliminate the large wealth gap between Black and White homeowners that we created in part through our current mortgage system.”

Check out the paper for yourself here.

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DJ Akademiks questions if Lil Durk will get bond as the racketeering case goes on

Lil Durk’s legal battle is about to take another big step, and DJ Akademiks is already sharing his expectations for what could go down when the rapper returns to court in November.

Durk is in custody, awaiting his next VICAR case in which authorities say he was running a criminal enterprise. His next trial was set for October 5, but recent developments have called into question when those proceedings will occur.

Durk’s murder for hire trial recently resulted in a not guilty verdict in November. Regardless of that outcome, he remains in custody because the separate racketeering related charges remain unresolved. Durk’s attorneys have asked for the new hearing and have been ordered to appear by U.S. Probation and Pretrial Services, which also must submit a fresh bail report.

Against that backdrop, legal commentator Bradford Cohen had previously suggested Durk could eventually get bond. That view ties in with Durk’s not-guilty verdict in the earlier case, and the argument that the outcome could make it harder to sustain the remaining allegations.

Read More : Recent leak of Kanye West and Jay-Z’s “Living So Italian” brings back the legendary Watch the Throne mystery.

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DJ Akademiks sees things a bit differently. In a recent livestream, Akademiks predicted that Durk would not get a bond at the Nov. hearing. He believes the charges will stick and cites the seriousness of the allegations in the VICAR case as his reasoning. He also doesn’t appear to expect the rapper to be released from jail anytime soon as the case moves forward.

Akademiks’ prediction concerns the bond hearing, not Durk’s chances at trial. Durk’s legal situation remains unresolved for now. His recent acquittal has altered the circumstances of his arrest, but the separate racketeering case still looms over the rapper as both sides prepare for the next phase.

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DJ Akademiks Resurrects 2015 Drake vs. Meek Mill Beef With Alleged Nicki Minaj Backstory

DJ Akademiks is digging up hip-hop history buried for 10 years as he offers his supposed explanation for how the Drake/Meek Mill feud came to a head in 2015. The back-and-forth between Akademiks and Meek Mill has resurfaced the conversation. Akademiks returned to the long-running Drake-Meek beef on his stream last night, saying a comment by Nicki Minaj had something to do with what happened between the two rappers.

According to Akademiks, Meek and Minaj were shopping at a designer fashion store when they got to the register. He says that when Meek told her he didn’t have the cash to pay for Minaj, she allegedly told him he would never be Drake. Akademiks also claims Minaj left the store on her own, and then Meek went on X, and what happened next started the infamous feud with Drake.

The account remains an allegation, not a confirmed explanation. The information provided has not been independently verified, and ultimately only those involved, including Minaj and Meek Mill, could confirm the story’s authenticity.

Read more : Chrisean Rock Wins Boxing Match, But Second Round Forfeit Leaves Her Frustrated

The beef between Drake and Meek Mill started in 2015 and has become a staple in hip-hop conversation. Meek struggled after the fallout, while the beef became a defining moment in Drake’s career. However, the two eventually made up and collaborated on “Going Bad,” signaling a return to a more cooperative relationship despite the rivalry’s tension.

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Now that Akademiks and Meek are throwing shots again, the events of 2015 are back in the conversation. By reflecting on the feud, Akademiks has added another possible piece of context to a story that has been a hot topic in hip-hop for years.

Whether his version of events is what actually happened, however, remains unresolved. Currently, the designer-store story isn’t factual, but it is Akademiks’ version of the events surrounding the beef.

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