Black Homeownership: Persistent Gap in Wealth Building
Spokane News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Black homeownership rates have remained stagnant since the Fair Housing Act, with only 43.6% of Black households owning homes in the 50 largest cities, compared to 70.3% for white households. This gap is exacerbated by lower property values and wealth disparities, with Black families earning less and holding only 3.4% of the nations wealth despite making up 14% of the population. Experts attribute this persistent disparity to historical factors such as redlining, denied G.I. Bill benefits, predatory loans, and appraisal bias.
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