PITTSBURGH – Michele Newell of Channel 11 highlights the disparities that many people in our community face on a daily basis.
She spoke to a black real estate developer who told me he had been discriminated against firsthand.
“Right now we are in Mt. Lebanon. 3 bedrooms in this property and there is a main inn suite downstairs. We are going to refurbish all of the flooring to make it look nice and shiny, ”said Stephen Long, owner of Greenwood Properties.
It’s a normal day for Long as he is a real estate developer who buys properties and returns them.
“Sometimes you have to be able to see the beauty before the project is finished.”
But, as a black real estate developer in Pittsburgh, Long admits there are extreme challenges.
“When I walk around, I have to dress like a worker so I don’t let the neighbors know who owns the property.”
And when it comes to getting loans, it doesn’t get any easier.
Tell us about important issues in your community that you would like us to cover, or someone you think we should present. Email us at [email protected]
“At the beginning, it was almost impossible, no one gave us a mortgage. They always discriminate. They still set such high qualifications.
Long says he hasn’t given up on the banks altogether. But for now, he’s relying on a system that he uses to get the job done.
“I started bringing my friends together, we started investing and buying properties so that we didn’t have to go to the bank anymore. I hope a black person will come and buy it, because in mt. In Lebanon, there are really no black families here.
City councilors Ricky Burgess, Daniel Lavelle and other community leaders just released a report that shows how difficult it is for blacks and browns to get loans and own homeowners.
According to the report, in 2019, there were just over 52,000 white homeowners, just under 9,500 black and brown homeowners, and just 893 Hispanic and Latino homeowners in Allegheny County.
“With the properties either – I have some – I try to do them all at a fair price so that everyone can afford them. If you get a 30 year loan, but then there’s the problem, many people are not eligible for loans.
Despite the problems, Long says he’s teaching blacks and browns about financial literacy and the house flipping industry. He showed us pictures of some of the courses he offers.
“I show them what not to buy and what to buy. I show them the red flags when they buy.