Black investors are turning from real estate to stocks after being burned by the 2008 housing bust, a shift triggered by better bond yields over the past decade.
The median home value has dropped 3% since December '08, Zillow data says, while the S&P 500 produced a 66% return during that same period, Reuters reports.
Black investors surveyed who put real estate as the best investment dropped from 61% to 37% since 2004. But, overall equity investments from African-Americans is still around 66%—catching up to whites’ 88% metric.
Despite this trend, the African-American community boasts an all star list of players, including Don Peebles, a DC developer inching closer and closer to billionaire status. [Reuters]
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