State-Of-Black-Oregon-2015

INTERGENERATIONAL CHANGES, INTERGENERATIONALKNOWLEDGEParticipants in the Black Older AdultsFocus Groups (see Appendix D for surveydescription) felt that younger generationslack early financial education and that acommunity norm of Black property ownershipis critical for developing financial security.Participants felt that their peers must play acritical role in instilling strong financial valuesearly in life, as their parents did, who paidcash for homes and clearly communicatedthe necessity and value of frugal living with abuilding-for-the-future.Participants felt that the preference amongBlacks in the 1990s to rent in outlyingareas rather than buy homes in Blackneighborhoods significantly reducedopportunities to learn valuable financiallessons as well as contributing to thedisintegration of Black neighborhoods andbusinesses. Ultimately, this has placed theBlack community in a continuous state ofstarting over, rather than building from onegeneration to the next.117