UI Addresses Disparity in Minority Homeownership Rates

By Jann Swanson

Posted To: MND NewsWire

The gap in homeownership rates between white Americans and racial and ethnic minorities has persisted for years with the largest gap among black families. All demographic groups have seen their rates decline from the 2004 peak, but again decline since has been most dramatic for black Americans. Their rate has dropped 5 percent compared to 1 percent for white families and an increase among Hispanics. The rate for Millennial generation blacks is 13 percent today compared to 37 percent for white Millennials. Alana McCargo, writing in the Urban Institute’s (UI’s) Urban Wire Blog, says black homeownership rates are now at levels not seen since the 1960s when private raced-based discrimination was legal. She says this sustained gap has been studied, quantified and discussed thoroughly in recent years…(read more)

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