By: KDKA-TV News Staff
PITTSBURGH (KDKA) – It has been a “decade of disparity” for Black Americans in Pittsburgh, according to a new study.READ MORE: State Police: Man Shot, Killed By Police After Stabbing Three People, Injuring Police Officer
The study from Carnegie Mellon University found “wide” differences in bank lending to minorities and minority neighborhoods over the past ten years.
CMU and some local groups tracked lending to Black Pittsburghers and people who live in minority neighborhoods since “The Great Recession.”READ MORE: Hofbrauhaus Suspends General Manager Amid Investigation Into Racism Allegations At Beer Festival
It found that only 3.5% of loans given out since 2008 have gone to African-Americans in Pittsburgh while almost 7% went to minority neighborhoods.
“It’s so bad that as of right now if you’re white and decide to move into a Black community you’re more likely to get a mortgage than if you’re a Black person living in a Black community,” said Councilman R. Daniel Lavelle.MORE NEWS: Pittsburgh Weather: Sunny Steelers Sunday
The report’s authors say it shows banks refusing to invest in minority neighborhoods and that public investment won’t be enough to build communities or generational wealth.