Sabrina Guillaume faced numerous challenges on her journey to homeownership in Liberty City, a historically Black neighborhood in Miami. After being preapproved for a loan, home prices skyrocketed due to the pandemic. Despite discouragement and pressure from real estate agents to purchase more expensive homes, she finally secured a duplex in Liberty City, a decision vital for preserving Black community presence amid gentrification. As many Black residents struggle with rising costs and market pressures, it is crucial to maintain generational ties to property in these changing areas.
"They literally dragged me to the closing table because I was discouraged," she told the Miami Herald.
Guillaume said it was important for her to buy back into the community she grew up in, one of Miami's historically Black neighborhoods.
Many Black residents and community members are saying it's more important than ever for Black people to hold onto generational property.
The challenges are great: They face skyrocketing prices, increasing financial burdens and, for those who own property, the temptation to cash out.
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