Younger Americans Are Being Pushed Out Of The U.S. Housing Market
According to a national profile of homebuyers and sellers by the National Association of Realtors (NAR), American homebuyers are Whiter, older and wealthier.
The New York Times reports the NAR added first-time homebuyers account for the smallest share of the market for the first time in four decades. According to the NAR, White homebuyers account for 88 percent of home sales during the survey, a six percent increase from the same period in 2021 and the highest level since the late 1990s.
The findings validate the struggles younger Americans, especially those who have low to moderate incomes have had when trying to purchase a home for the first time. The U.S. housing market is deepening racial and generational disparities and the consequences could be dire in the future.
Homeownership is still one of the most tried and true ways to build wealth in the U.S. Even if a home’s value remains flat, it provides stability and can be used as collateral to take out loans, pay for a child’s college and more.
For Black Americans being locked out of homebuying typically meant redlining and racism in the banking and real estate industries.
Things have been made worse by the Federal Reserve increasing interest rates above 7% which has eliminated what little power first-time homebuyers had. Additionally, there is a massive shortage of homes in the U.S. today which has led to bidding wars and increased home prices significantly.
“This is a feedback mechanism that can potentially supercharge wealth inequality in our economy,” said Austin Clemens, the director of economic measurement policy at the Washington Center for Equitable Growth, told the Times. “It’s hitting younger people, it’s hitting lower-income people. And we also find that this is hitting Hispanic and Black households especially hard.”
Historically, first-time homebuyers made up about 40% of the U.S. Housing market, however, that percentage fell to 26 percent during the 12-month survey from July 2021 through June 2022, the lowest level since the NAR began tracking such data in 1981. Additionally, the median age for a first-time homebuyer has risen to 36, the oldest age it has been since 1981.
Black and Asian Americans account for less than 6% of the U.S. housing market as their share in the market has fallen in the last year. Hispanic homeowners accounted for 8% of the market.
“It’s staggering what someone can lose out on when it comes to housing wealth,” Jessica Lautz, the vice president of demographics and behavioral insights at the National Association of Realtors, adding that a typical homeowner has gained about $210,000 in equity over the past decade.
Telli Swift Talks Boxing Wags Association & Unisex Fragrance With Deontay Wilder
Entrepreneur, philanthropist, and socialite Telli Swift stopped by Hip Hop & Enterprise to share how she’s using her powerful influence, to give back through her non-profit, Boxing Wags Association.
After much success starring in the hit reality series, WAGS Atlanta, Telli’s following grew as fans and viewers were drawn to her spunky, kind-hearted persona. Using her powerful influence, Telli decided to give back through her philanthropic efforts and initiative with her non-profit, Boxing Wags Association.
Composed of talented and diverse women, BWA raises funds and awareness to support women, children, and families through charitable events and fundraisers. Telli opened up about the inspiration behind the organization that came through the health complications one of her own children face.
“So initially, our eldest daughter, she was born with Spina Bifida,” she shared.
“I always wanted to raise funds and awareness to detect Spinal Bifida at an earlier point in when they’re in their mother’s womb.”
Once Telli realized there were WAGS associations for other professional sports, like the NFL and NBA, Telli decided there should be one for the boxing profession as well.
“I developed the Boxing Wags Association, where a group of women, whether they’re with active athletes, or retired athletes can come together and help our community and just raise funds and awareness,” she shared.
Continuing to build her empire, Telli’s built, hosted, and interviewed a vast range of guests to inspire listeners through her podcastTelli Talks. As a self-proclaimed “fempowerist” Telli shared her passion for uplifting women through her various endeavors.
“So fempowerist is someone that has ownership of who she is as an individual,” Telli told BLACK ENTERPRISE.
“Just what she’s doing her strength, her resilience.”
“As a woman not letting anything, deteriorate her power and her strength of just being a woman and owning yourself and what it is that you do in your career.” Whether you’re a mother, whether you’re an entrepreneur,” she continued. “Whether you’re a nurse or whatever it is that you do as a woman and just showing that strength from within yourself.”
Telli has also teamed with her fiance, boxing champion Deontay Wilder, to launch their official unisex fragrance D’Telli. The socialite dishes on the romantic inspiration behind the new fragrance and where the powerhouse couple hopes to take the brand.
“Our model behind it is ‘where two souls connect as one’ because he trains in Alabama, and I work here in California. So when we’re not together, we can, you know, think and reminisce about each other to a scent,” Telli explained.
Press play below for the full interview with Telli Swift.
NFL Front Offices Have Increased Their Diversity Ranks Significantly Since 2020
While there seems to be a lack of diversity in the NFL coaching and ownership ranks, there has been an increase in NFL front offices.
Andscape reports the number of NFL team presidents has increased from one to four this year including the league’s first Black female team President in Sandra Douglass Morgan of the Las Vegas Raiders. In addition to Morgan, Jason Wright of the Washington Commanders and Sashi Brown of the Baltimore Ravens make up the other team presidents.
Diversity is increasing in other areas of NFL front offices as well. At the end of the 2018-’19 season, Chris Grier of the Miami Dolphins was the only Black general manager in the league. Today there are seven Black NFL general managers, six of which have been hired since 2020.
That group includes Cleveland Browns GM Andrew Berry, Terry Fontenot of the Atlanta Falcons, Brad Holmes of the Detroit Lions and Martin Mayhew of the Commanders, Chicago Bears GM Ryan Poles and Minnesota Vikings GM Kwesi Adofo-Mensah. Additionally, while Dallas Cowboys Vice President of Player Personel Will McClay is in his 20th season with the team and oversees their draft.
Media Mogul Byron Allen, who earlier this season tried to buy the Denver Broncos earlier this year, is now in the running to buy the Commanders and become the league’s first Black owner.
NFL Commissioner Roger Goodell has also added to the diversity of the league’s NYC headquarters. According to Andscape, nine of the NFL’s 17 highest ranking officials are Black and eight of the nine have vice-president or president in their title.
NFL senior vice president and Chief Diversity and Inclusion Officer Jonathan Beane told Andscape that he isn’t surprised by the increase in diversity across the NFL.
“Each team has three CEOs,” Beane said. “You have the GM, the head coach and the team president. The president’s role is a critical role for an organization. And the thing is, when you look at each one of [the new team presidents] … they have exceptional backgrounds and a long history of great leadership.
“These are positions where you have people that have been in the roles for 10, 15, sometimes 20 years. That’s one piece that has not really being emphasized as much as it should [about improvements in hiring], because you’re talking about someone who [could] be the face of their organization, or one of the faces, for a long time.”
Post-shutdown HBCU Homecomings Bring Much-Needed Boosts to Revenues
By Arriana McLymore
HAMPTON, VA(Reuters) – U.S. colleges and universities are celebrating their first post-pandemic homecomings, annual events when graduates return to celebrate years past and cheer on their alma mater football teams.
For historically Black institutions, many of which were founded after the Civil War to educate newly freed Americans barred because of racism from studying at other U.S. institutions, homecoming’s reboot brings a much-needed economic boost to the universities and their surrounding areas.
With inflation easing, U.S. shoppers are slowly beginning to spend on food, clothing and recreational goods. Consumer spending rose 0.6% in September, according to the U.S. Commerce Department.
“I didn’t go (to homecoming) last year, which is a first,” said Samiria Percival, a graduate of Prairie View A&M University in Texas. This year, she has tripled her budget to $1,500 from 2019 after spending on flights, hotels and the “turn up” or the cost of libations, clothes and parties.
While homecomings are not exclusive to HBCUs, the scaling back of these events during the pandemic hit schools that are already underfunded and struggling financially compared to predominately white institutions.
Morris Brown in Atlanta earned back its accreditation in May, which had been revoked because of debt and mismanagement.
Universities canceled athletic events in 2020 due to the pandemic and hosted virtual and hybrid parties in 2021. At homecomings this year, universities are increasing fees such as those charged vendors to fight off inflation and recoup some losses from the pandemic.
Colleges and universities are not alone in feeling the economic impacts of post-pandemic homecomings. Local restaurants, party venues and hotels are also getting back the annual boost in revenue.
“There’s like a $2.5 million economic impact that comes into the city (of Durham) with all of the events we have,” North Carolina Central University Chief Financial Officer Akua Matherson told Reuters.
She expects the economic impact to be more this year as hotels and event venues in Durham reach booking capacity.
Tiffany Rose, an event planner who hosts an alumni party during Howard University’s homecoming, said she’s had to raise prices for tickets from $35 to $50 because of increased venue fees, but that she’s seen at least a 200-person increase in sales.
Vendor fees and tailgate spots increased by at least $25 this year — a price tag that can quickly accumulate for merchants and visitors attending multiple homecomings.
Clark Atlanta University has increased its vendor fees by $25 since 2019.
Howard University in Washington, D.C., has doubled its vendor fees from 2018 to $550 for early registrants and $750 for late registrants, according documents from the university’s website.
North Carolina Central University increased its rates by $50 this year compared to 2021, to $500 for food vendors and $400 for general merchandise sellers, because of rising inflation, according to documents.
Philip Garner, who runs art and apparel company Dope Rebellion, said paying the increased costs is worth it. He sold out of more than 300 shirts on his first day of Hampton University’s homecoming bazaar, pulling in more than $7,500 in sales. Garner drove three hours to his home state of Maryland to print more merchandise and returned to the university the next morning for more sales.
“I was exhausted but, you know, this is normally like my best sales weekend,” Garner said. Now, he is gearing up for Grambling University’s homecoming in Louisiana.
(Reporting by Arriana McLymore; Editing by Donna Bryson and Mark Porter)
Democrats Turn to Obama for Midterm Miracle, or at Least to Stem the Bleeding
By James Oliphant
WASHINGTON (Reuters) – Less than two weeks before the U.S. midterm elections, with Democrats on verge of losing their razor-thin majority in Congress, the party is asking former President Barack Obama to perform some late-game heroics – or at least help limit their losses.
Obama, who left office in 2017 after serving two terms, travels to Georgia on Friday, and then moves on to Wisconsin, Nevada and Pennsylvania, all key battlegrounds in the Nov. 8 election.
All four states are home to competitive Senate races where Republican candidates appear to be gaining momentum. Republicans need to pick up just one additional Senate seat to secure control of that chamber, with Georgia and Nevada looming as prime targets.
Republicans are also expected to win enough seats to take over the U.S. House of Representatives. Holding both chambers will enable them to stonewall President Joe Biden’s agenda, block his nominees, including federal judges and launch investigations of his administration.
With Biden’s approval among voters hovering at 39% according to the latest Reuters/Ipsos poll, it is the former president, who is assuming the role as the party’s closer in the final days. Biden served as Obama’s vice-president for his two terms.
“He’s probably a better ambassador for swing-state Democrats than Biden is, since he’s more popular – especially in the competitive states – and less tied to the current issues on voters’ minds,” said Jacob Rubashkin, an election analyst with Inside Elections in Washington. “He’s also a more natural campaigner.”
Obama will hit a fifth state, Michigan, which has a competitive governor’s race, along the way.
Dogged by the public’s concerns over inflation and the economy, Biden has been nearly invisible on the campaign trail. His predecessors, Republican Donald Trump and Obama, both had held more than a dozen large rallies at this point in their second year in office.
But those presidents saw significant losses in Congress regardless, underscoring the political headwinds that Biden faces now. Obama suffered what he later called a “shellacking” when Republicans captured 63 House seats in the 2010 midterms, altering the trajectory of his presidency.
Biden isn’t staying off the trail entirely. He plans to campaign in Florida next week on behalf of Democratic gubernatorial candidate Charlie Crist — who faces Republican governor Ron DeSantis, a possible 2024 White House contender — and then will join Obama for events in Pennsylvania on Nov. 5.
MOTIVATIONAL SPEAKER
Obama’s top objective on his swing is likely to be to mobilize the existing Democratic coalition – Black voters, college-educated suburbanites, Latinos and young voters – to turn out to vote, which historically has been a challenge in midterm elections when a presidential race is not on the ballot.
“President Obama remains able to unite base Democrats, persuadable voters, and to motivate demographics less likely to turn out in midterm elections like young people,” said Ben LaBolt, who served as spokesman for the first Black president’s successful 2012 re-election campaign.
Voter turnout has hit records in the past two federal elections and has remained high this year, with more than 12 million early votes already cast, according to the U.S. Elections Project.
Obama earlier this week posted a video on social media encouraging young Americans to vote, highlighting issues such as abortion rights and gun control.
In Georgia, a robust African-American vote helped power Democratic Senator Raphael Warnock to an upset win two years ago, and will be needed again if Warnock is to defeat Republican challenger Herschel Walker, said Andra Gillespie, a political science professor at Emory University in Atlanta.
“African-American voters are going to be crucial to Democrats’ chances,” Gillespie said. “Bringing in President Obama helps to underscore the importance of African-American vote, while also exciting other voters.”
But Democrats will have to wonder if that will be enough, as recent polling has shown Republican candidates gaining strength across the board.
The Senate race is Georgia is essentially tied, even as Walker has been hamstrung by a series of controversies. The race in Nevada between Senator Catherine Cortez Masto and challenger Adam Laxalt also appears to be deadlocked.
In Pennsylvania, Democrat John Fetterman has watched his lead over challenger Mehmet Oz slowly evaporate. And in Wisconsin, Republican Senator Ron Johnson appears to have the upper hand over challenger Mandela Barnes.
Still, there remains time for Obama to make an impact, Rubashkin said. “The cake,” he said, “is never completely baked.”
(Reporting by James Oliphant; Editing by Scott Malone and Aurora Ellis)
African Development Bank Secures $31 Billion at Investment Forum
The African Development Bank raised $31 billion in investment commitments for projects during the Africa Investment Forum, said the bank’s president Akinwumi Adesina at the end of the three-day meeting on Friday.
It brings the total investment for the year to about $64 billion, said Adesina. The bank secured $32.8 billion at another meeting with investors in March.
Adesina gave few details about the projects but said one focus would be agricultural processing zones.
Projects announced earlier in the year were from sectors including agriculture and agro-processing, education, energy and climate, healthcare, minerals and mining, and information and communications technology.
(Reporting by Loucoumane Coulibaly; Writing by Nellie Peyton; Editing by James Macharia Chege)
Meet Dr. Felicia Phillips Who Built MogulCon and the One Million Dreams Foundation for Black Women and Girls
It’s been said that “If you create the products, add hard work, never give up, and build things that serve people, the people will come!”
This is why everything that Dr. Felicia Phillips touches turns to gold.
Case in point, in 2020, Phillips founded The One Million Dreams Foundation for Black Women and Girls.
The 501(c)(3) foundation is a strategic alliance partner to the Small Business Administration and has partnered with Fortune 50 companies to help women-owned businesses with contract opportunities, certifications, and access to capital.
For the last seven years, Phillips has hosted MogulCon, a platform for Black women-owned businesses to get the education and access to the resources needed to build a profitable business and position themselves in the global marketplace.
Photos Courtesy of Dr. Phillips
She received the Presidential Lifetime Achievement Award from President Joe Biden and the Atlanta Business League’s 2022 Outstanding Achievement (Woman of the Year).
Other recognitions include the 2022 Business Leader of the Year, 2021 National Association of Black Female Executives in Music & Entertainment Lady Mogul Award, 2021 National Women’s Empowerment Ministry Awardandas other industry-based awards for her work with supplier diversity initiatives.
A fourth-generation serial entrepreneur, Phillips is a Master Business Strategist and CEO of PPICW Inc. PPICW is a two-time award-winning, certified MBE consulting firm specializing in strategic planning, supplier development, DE&I training, and executive coaching. Phillip’s expertise has been used to coach, mentor, and advise businesses from the startup stage to include more seasoned businesses with revenue over $100M.
Today, Phillips uses her 32 years of experience to advise organizations like AARP, Southern Co., Grady Health System, Wells Fargo, Delta Air Lines, The McDonald’s Corp., Pathward, The Museum of Contemporary Arts, and many other organizations that have DEI or supplier diversity initiatives that assist veteran, minority, and women-owned businesses. She is truly the definition of being a total package. Never one to shy away from success and helping others to reach their full potential.
BLACK ENTERPRISE was fortunate to sit and chat it up with this mogul.
BE: You are doing some phenomenal work for Black-owned businesses, especially women-owned businesses. Why did you create MogulCon?
I created MogulCon in 2015 because I recognized an opportunity to build a platform that would focus on Black women-owned businesses. The truth of the matter is that the majority of Black women go into business out of lack instead of opportunity. We feel devalued in the workplace, not getting the promotions or pay we deserve. So, we turn to entrepreneurship as a way to make ends meet or an escape from corporate America. The challenge we face is that we have an amazing skill set, but there is a big difference between having a skillset and operating a business. Then you add lack of capital, and one quickly realizes the “elephant in the room,” which is all the things they did not know about being a business owner.
MogulCon is ground zero for many of these Black-owned businesses. We provide everything from understanding the foundational elements of setting up a business to establishing a solid supply chain, competing for federal and corporate contracts, to include establishing the mental capacity of being a CEO. We provide a safe place for entrepreneurs to be open and honest about the help they need and then get it.
BE: Why is it so important to you that Black women know the importance of doing business with the federal government?
According to a fact sheet released by The White House, “less than 10% of federal agencies’ total eligible contracting dollars typically go to small disadvantaged businesses (SDB), a category under federal law for which Black-owned, Latino-owned, and other minority-owned businesses are presumed to qualify. Moreover, while women own roughly 20% of all small businesses economy-wide, less than 5% of federal contracting dollars go to women-owned small businesses.”
It went on to say, “Increasing federal spending with underserved businesses not only helps more Americans realize their entrepreneurial dreams but also narrows persistent wealth disparities. According to a new analysis from the White House Council of Economic Advisers, based on data provided by the Small Business Administration (SBA), differences in business ownership account for 20% of the wealth gap between average white and Black households.”
President Biden announced a bold new goal: increasing the share of contracts going to small disadvantaged businesses by 50% by 2025 – an unprecedented target projected to translate to an additional $100 billion to SDBs over five years. The announcement built on the President’s Day One Executive Order 13985, which directed agencies to work to make contracting opportunities more readily available to all eligible firms and to remove barriers faced by underserved individuals and communities.
This information is why it is important to me to continue to provide a platform where Black businesses can learn and connect with individuals that can help them with government certifications, programs, and contracts. Earlier this year, The One Million Dreams Foundation For Black Women and Girls Inc. entered into a Strategic Alliance Memorandum with the Small Business Administration for Tennessee and Georgia. Our goal is to further our mission of assisting one million Black women-owned businesses with the tools for capacity building and to ensure they have profitable businesses in the global marketplace.
BE: How do you plan on finishing 2022 strong?
I plan to end 2022 with announcing our 5-City tour of The Mogul Summit. A one-day event designed to address the challenges Black women-owned businesses face with growing and scaling their businesses.
BE: Tell us about your nonprofit and why you created it.
In 2020, I examined all the work I’d completed with small and diverse business owners, from workshops and webinars to MogulCon, and realized that I could better serve them if I established a 501(c)3. With the help of some government and corporate partners as well as some of the small businesses we serve, I was able to successfully launch, The One Million Dreams Foundation For Black Women and Girls Inc. No business owner should have to face uncertainty due to a lack of resources at their disposal. We aim to take that uncertainty out of the picture for Black-owned businesses. The Foundation works with Black women who have an existing business and equips them with the access they need to grow and sustain a business that leaves a legacy they can be proud of as business owners.
BE: What can people expect from you regarding MogulCon in 2023?
In 2023, I will be releasing my book, An Entrepreneur’s Guide To Operating In A Virtual World. I am really excited to share how we, as business owners, can be ahead of the curve.
In this book, you will learn the different ways to prepare and position your small business for the infinite possibilities of operating in a virtual world. Whether you are a product or service-based business or even a subject matter expert, this book will educate you on the history, opportunities, and how to increase customer retention by communicating and connecting with users virtually.
Mi Mi’s Smart Money Moves: Mariah Carey Reveals She ‘Owns All’ of Her Master Recordings
Mariah Carey is laughing straight to the bank after confirming she now owns all of her master recordings including 86 singles and 15 studio albums dating back to 1990.
Carey is preparing for the upcoming small-screen adaptation of her 2020 memoir, The Meaning of Mariah Carey. While opening up about the actress she would like to play her, the decorated Grammy award-winner spilled the beans on owning her masters.
‘”I’m here to do anything we need to do. I own all my old masters,” she toldUSA Today on Tuesday.
“I don’t think it’s about ‘cast the girl who sings the Mariah Carey style’ – whatever that is,” she explained. “It’s about casting a great actress with a somewhat similar look and just making sure the acting is there. Because we have the music – they can sing along to it.”
Carey’s miniseries will be directed by two-time Oscar nominee and Carey’s good friend Lee Daniels. The songstress worked with the famed director in The Butler (2013) and Precious (2009).
Carey’s memoir — co-written by author Michaela Angela Davis — shared intimate details about the singer’s rise to fame in the early 90s and difficult upbringing in Long Island as biracial, as well as her bipolar diagnoses, Daily Mailreports.
Carey is gearing up to rake in the dough as we go into the holiday season. Her cult classic holiday hit “All I Want for Christmas” is known to shoot up the charts around this time of year and make the singer millions.
With Carey owning all of her masters, she’s set to see a huge payout. On Monday, Carey marked the end of Halloween and the start of the holiday season with a comical video promoting her hit single and favorite holiday.
Carey posted a video of herself wearing a witch Halloween costume and peddling a bike, reminiscent of Wizard of Oz, before she is transformed into her “All I Want For Christmas Is You” holiday theme.
The Frugal Feminista Kara Stevens Talks Sticking To Financial Goals Despite Threat of Recession
The Frugal FeministaKara Stevens joined BLACK ENTERPRISE‘s Your Money, Your Life podcast to discuss sticking to your financial goals despite the threat of a recession.
Stevens, who has written two books on wealth building and money management, sat down virtually with BLACK ENTERPRISE Senior Vice President Alfred Edmond Jr. and told him about her struggles with money.
“Initially I graduated from college and I had no idea that I had to pay back any debt, so when I got the payment requests in the mail I would ignore them,” Stevens said.
“Also while I was in college I also had my mom’s credit card, I was running it up and I also thought I didn’t have to pay that back,” said Stevens, who graduated with a degree in economics and political science. “When I graduated I had no real connection between larger ideas behind managing your finances and this larger concept so I was ignoring my debt.”
Stevens eventually had a moment of clarity and started working to improve her credit, cut her debts, and take control of her finances. The Frugal Feminista is now helping other Black women with their finances through courses on budgeting, building an emergency fund, and saving for retirement. Additionally, she conducts speaking and training courses, coaching, consulting, and more.
During the podcast, hosted by Prudential, the pair also got into the fears of a looming recession that have Americans watching their money. Stevens said even in a recession people should stay focused on their financial goals explaining how looking at it as an opportunity can lead to big things.
“Technically a recession is when there are two no growth or negative growth in the economy and typically you’ll see higher unemployment, higher interest rates and less consumer spending,” Stevens told Edmond. “The larger context is that these are cycles so you have to think and prepare in a recession that there’s not going to be a recession and what I mean by that is that sometimes there is a bear market where there are falls in the Stock Market.”
“For those of us that understand the cycles, this is a great time to take advantage of sales in the market so if you change that mindset of scarcity of one into opportunity knowing that recessions happen and after the bear market there’s a big bull market right after so you want to be able to get through the recession for whatever happens after.”
Stevens also discussed how having an emergency fund is paramount during a recession and suggested having enough cash reserves to make it between six and nine months in case you lose your job. Stevens suggested eliminating as much debt as you can so high-interest rates don’t hurt you.
The full interview, including more on how to make it through a recession and how to better manage your money and save more can be found here.
Lamar Odom Reveals Fan Returned NBA Championship Rings He Pawned In 2016
Lamar Odom has a loyal fan who made sure the NBA alumnus was reunited with the championship rings he pawned back in 2016.
Odom opened up on the newest episode of his On the LOpodcast that he pawned his two championship rings six years ago in order to pay for medical bills following his near-fatal drug overdose at a Las Vegas brothel in 2015.
“To make a long story short, there was a time I came up out of the coma, I checked my account and my sh*t was at like double zero and I panicked a little bit….I put (the rings) up for auction,” Odom shared.
“It hurt me even just to say that. So, whatever, I put them up, put the money in my pocket, put it to use. Made some use of it. I think that money’s even kind of helped me get back here but it was embarrassing for me to do that.”
By 2020, the rings were sold at an auction for $36,600 and $78,000, CBS Sports reported. The former NBA power forward had no idea he would eventually be reunited with his rings while at the Los Angeles Lakers home opener against the Clippers on Oct. 20.
“God is good, and I wanted to tell you a little story to tell you about how good he is,” Odom said at the start of his testimony.
While watching his old team play, Odom was approached by a fan who had purchased the rings and offered to give them back to him. Odom said the fan, who is possibly a season pass holder who frequents most Lakers games, said the former Lakers player deserved to have them back.
“I get there and see a guy who used to sit right by us. Let’s call him ‘Franz’ for right now. My man ‘Franz,’ he says, ‘Yo, Lamar, I bought your rings,'” Odom recalled. “I was like, ‘Oh, sh*t,’ because at this point, I’m still embarrassed.”
After telling Odom to go pick up his rings, “Franz” gave them to him without asking for anything in return.
“I think it goes to show you how serious Lakers fans are,” Odom said.
Odom played on five different teams in 14 NBA seasons. He won two championships while playing alongside late Lakers great Kobe Bryant in 2009 and 2010.
