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Hannibal X 8 years, 2 months ago.
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Why are black investors switching from real estate to stocks?
Burned by the housing bust of 2008, more black Americans are tying up their wealth in the U.S. equity market through workplace retirement plans, experts say.
“Initially, my experience was that black Americans were more prone to invest in real estate – things they could touch, feel, see,” said Jerry Murphy, a certified financial planner at JDM Financial & Investments in suburban Washington who has worked with African-American investors for two decades.
Sentiments, however, shifted as returns in the stock market outpaced home prices in recent years. The median U.S. home value dropped from $189,200 in January 2008 to $183,500 in December 2015, a fall of 3% according to Zillow, an online real estate marketplace. By contrast, the S&P 500 delivered a total return of 66% in roughly the same period, says Howard Silverblatt, senior analyst at S&P Dow Jones Indices.
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