Tagged: Black Homeownership

Redfin study reveals starter homes are unaffordable for typical Black households in most of U.S.

More than 90% of the wealth gains for Black Americans came from homeownership, NCRC reports.

By extending $20 billion in new mortgages to Black homebuyers by the year 2028

Nearly one in four Black mortgage applicants are denied, versus one in 10 white applicants.

17% of Black homebuyers used their 401k and pensions, higher than any other group.

Inadequate supply of homes, discriminatory practices, and economic disparities continue to hinder Black homeownership.

FHLBank San Francisco and Urban Institute issue recommendations for pursuing equitable outcomes.

Typical Black homeowner gained nearly $84,000 in equity.

Urban Institute research shows the inability to repay debt or build generational wealth widens the racial wealth gap.

The effort is specifically targeted toward Black and Latinx households.