The Hollywood Reporter, June 28, 202: Black Homeownership Gets a Boost in Los Angeles: We’ll “Rebuild Black Wall Street”
“Homeownership is very difficult in Los Angeles because of pricing and lack of inventory, particularly for a group of people trying to get over the social hurdles we are trying to get over,” says Daniel Carter, founder of Buy Back the Block L.A., an organization that educates South Los Angeles residents on how to buy property and fight gentrification. “Communities that were traditionally Black like Inglewood are starting to become not Black,” says Carter. “We are watching the walls closing in from all sides.”
Carter — who runs the music management company Pray and Floss (producer Dem Jointz is a client) while also investing in real estate — has operated Buy Back for a year, launching it in the wake of Nipsey Hussle’s death to continue the rapper’s mission of increasing Black ownership. It hosts monthly meetings (now virtual), bringing in brokers, house flippers and loan officers to educate attendees on raising credit scores, securing loans and more.
