The Story of O.J by Jay-Z is one of the best wealth building songs in the history of hip hop. Jay-Z poetically spits jewels of information to his core fans. Many of the verses are basic fundamental practices of the top 1% of wealth in our country. Hip Hop began in the 80’s and it has taken 30 years for a top artist to use his platform to enlighten the masses about wealth. Some may say that’s too long, I believe it’s perfect timing.
There are several verses in this song that resonated with me immediately. I was blown away by the simplicity of the verses. However the statements are simple, yet the implementation for most people of color has been a challenge. Jay-Z has the untouchable status of his wealth and he can now be free to speak his mind, with out the fear of corporate backlash. What has kept more artist from sharing such candid details about wealth?
“I told him, "Please don't die over the neighborhood
That your momma rentin'
Take your drug money and buy the neighborhood
That's how you rinse it" JayZ - The Story of OJ in Verse 1
Wow!!! Home ownership is one of the keys to building wealth in this country. Jay-Z makes the observation that while we are stunting, repping ( Slang representing) and chilling in our neighborhoods, the truth is most of us are renting in the neighborhoods we are in dying in. The reality is that many African Americans were systematically kept from home ownership. Home ownership allows families to have options. The home appreciates in value, there are tax benefits and it can be leveraged to make investments.
What’s the mathematics Jeff?
Did you know there several mortgage programs for first time home buyers? Did you know that if you buy a home in an area that is considered low income you can qualify for more incentives? The mathematics in home ownership is understanding the following:
home price, loan to value, closing cost, interest rate and payment.
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