Homeownership in the U.S. Drops for Black Adults

Photo Jul 23, 3 04 19 PM” by Dan Moyle licensed under CC BY 2.0

Source: NPR

Across the U.S., homeownership is becoming less viable for black families, according to new data.

A new report by Harvard University’s Joint Center for Housing Studies shows that approximately 43 percent of black families in the U.S. have titles as homeowners, while about 72 percent of white families are homeowners.

Within two decades, the percentage of Latino, Asian-American and white families who have become homeowners has steadily increased, but the same is not true for black adults. Instead, fewer black adults owned homes between 1987 and last year, according to data.

“To put it into context, if you think about the last 50 years when the Fair Housing Act was passed, the black homeownership rate today is just the same as it was in 1968,” says Vice President of the housing policy at the Urban Institute.

These disparities of homeownership between black and white families are getting worse, and this is happening at different rates in different cities.

Minneapolis has the widest gap of about 50 percent, as reported by NPR.

Read Full Story: NPR

Justice & Poverty, News
Justice & Poverty, News