CBX Daily 3/14/2024

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CultureBanx Team
March 14, 2024

Today Drake and LeBron are trailblazing a new golf revolution, but let’s start with how it may be time to unsnap the disparity trap in Black home appraisal…

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Appraisal Cap: Why Are Black Homes Undervalued By More Than 10%?

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Homeownership still remains the primary driver of household wealth, but in majority-Black neighborhoods these are worth 23% less, or an average of $48,000 per home, than comparable homes with very few or no Black residents due to low appraisals. Primary residences are the largest asset among households across all age groups, except for the 55-64 year old demographic. However, such an investment is merely four stale walls and a roof, if one cannot act upon that investment because of a  low appraisal value. Wachu’ mean Rich? Ok, let me break it down.

New Era In PGA Tour With Drake And LeBron's $3 Billion Investment

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The PGA Tour, known for its traditional golfing heritage, is experiencing a captivating twist as global icons Drake and LeBron James enter the scene. The duo among other notable high-profile celebrities are injecting a $3B investment as a counter-attack to its rival LIV Golf.

Blueprint: Does Architecture Need Pop Culture To Increase Diversity?

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The field of architecture is a fascinating intersection of creativity, culture, and community. It's a realm where structures are not just bricks and mortar but a reflection of the societies they thrive in. Black people comprise only 1.8% of the National Council of Architectural Registration Boards Certificate population, with Black women holding only 0.4% of all records, according to the NCARB 2023 By The Numbers report. 

Is pop culture a keeper?

Nigeria's Binance Crypto Bust Triggers Naira's Plunge

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Nigeria's crackdown on cryptocurrency has escalated with the detention of two executives from Binance, a major crypto trading platform. The country alleges that the $26B transactions via Binance Nigeria has facilitated the depreciation of the Naira to record lows. This in turn led to the central bank flagging off Binance and Coinbase, as authorities intensify efforts to regulate the crypto market. The recent arrest comes in the wake of telecom providers also blocking access to several crypto exchange websites.

Tapping Into Insur-Tech For Creating Generational Wealth

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Insur-tech, is pivotal in reshaping financial opportunities for marginalized communities who have contended with inadequate access to insurance services vital for wealth transfer. This intersection of insurance and technology has prompted serial founder and motivator Shawn Meaike to empower entrepreneurs in the insur-tech space, to not only build seven figure businesses, but also strengthen their communities. With 52% of the total U.S. population owning life insurance, there is a burgeoning opportunity for insur- tech to democratize financial inclusion and secure generational wealth.

Vibes of the Week

It's the “Flaws” in the system that keep Black people at the bottom in home appraisals. Late June knows this all too well. Get into it in our CBX Vibes!