Blog

Jul08

Survey finds race still a factor in mortgage approval

  A new analysis of US mortgage applications claims African Americans are twice as likely to be denied a mortgage as white applicants. The study, carried out by real estate blog Clever Real Estate, also found that the disparity between white and black mortgage approval rates is most pronounced in the South. In Montana, Idaho, Continue Reading Learn more

Jul08

Will White House act to end the affordable housing crisis?

By Charlene Crowell Nearly 90 years ago, Kelly Miller, a black sociologist and mathematician, said, “The Negro is up against the white man’s standard, without the white man’s opportunity.” As the first black man to enroll as a graduate student at Johns Hopkins University in 1908, Miller also authored a book entitled Race Adjustment, published Continue Reading Learn more

Jun19

Blacks, income property and wealth

By Pride Newsdesk It is quite disturbing to learn there has been virtually no substantial increase in Black wealth in the last 50 years.   Based on data from the Federal Reserve’s survey of Consumer Finance, the typical black family has just 10 cents for every dollar held by the typical white family. History reveals Continue Reading Learn more

Jun17

Making opportunity zones work for black communities

By Venroy July The IRS and the Treasury Department recently released a second set of proposed regulations on the federal Opportunity Zone program, which was created by the 2017 tax law to spur investment in economically distressed census tracts. The Opportunity Zone law provides significant long-term tax benefits for investors who put capital gains into Continue Reading Learn more

Jun12

Black Americans Face Challenges in Achieving Homeownership, but Help is Available

By: Crissinda Ponder Economic disparities are still a pain point in many communities across the United States, especially in terms of homeownership.   The homeownership rate among white Americans is 73.2%, according to the latest Residential Vacancies and Homeownership quarterly report from the U.S. Census Bureau — significantly higher than the homeownership rates for all Continue Reading Learn more

Jun10

REPORT: Cities with the highest percentage of black homeowners

By Selena Hill Even though housing discrimination has been outlawed for 50 years, studies show that the U.S. black homeownership rate isn’t any higher than when the Fair Housing Act initially passed in 1968. In fact, the racial gap between white and black homeowners today is significant. According to the U.S. Census Bureau, the homeownership Continue Reading Learn more

Jun07

NAREB Takes Fight for Black Homeownership to Congressional Hearing

By Hazel Trice Edney The rate of Black homeownership in America – now at 41.1 percent, according to 2019 census numbers – is even lower than it was when the Fair Housing Act was signed into law 51 years ago on April 11, 1968. This means Black homeownership is 32.1 percentage points lower than that Continue Reading Learn more

Jun07

Examining Black Homeownership Trends

By Radhika Ojha Black Americans own a much smaller number of homes compared to other demographics across the nation’s 50 largest metros, according to a new study by LendingTree. The study, which focused on homeownership trends among African Americans revealed that while Americans who identified as Black made up around 15% of the population in Continue Reading Learn more

Jun06

New report reveals Black homeowners in Chicago lost billions due to predatory housing contracts

By Brianna Rhodes Many people in the Black community once used homeownership as a means of building wealth, but a report published on Thursday reveals that Black Chicagoans who purchased homes between 1950 and 1970 never had a chance of making money because of predatory housing practices. The report, called “The Plunder of Black Wealth Continue Reading Learn more

Jun05

‘A plunder of black wealth’: Predatory housing contracts gouged Chicago’s black homeowners, new report says

A report released Thursday is the first to put a dollar amount on how much wealth was extracted from Chicago’s black community in the 1950s and 60s through home sale contracts. By Carlos Ballesteros Black homebuyers in Chicago lost at least $3.2 billion in today’s dollars because of racist real estate policies and predatory contracts Continue Reading Learn more

May31

The legacy of Asheville’s racial real estate covenants

It’s rare that Drew Reisinger, Buncombe County’s register of deeds, is surprised by any historical outrages that turn up in the public records under his care. After all, it was at his direction that the county became the first one in the country to digitize its archives of deeds documenting the local ownership and sale Continue Reading Learn more

May29

NAREB Seeks to Increase Homeownership of Blacks by at Least Two Million

A national organization of real estate professionals has made the commitment to see the number of Black homeowners in the U.S. increase by two million in the coming years. The National Association of Real Estate Brokers (NAREB), whose headquarters sits in Lanham, Md., is a membership organization with more than 18,000 real estate brokers, agents, Continue Reading Learn more

May28

Wilmington a ‘microcosm’ of larger cities on racial wealth divide, study says

By: Sophia Schmidt A vast divide in the amount of wealth accumulated by white families and families of color persists in the U.S.— and by some reports, has grown in the past few decades. That divide is reflected in Delaware’s largest city, where the median household income for black and Latino households is half that Continue Reading Learn more

May22

Poor credit scores keep Gen Xers from entering the housing market

On average, Gen Xers owe more than $20,000 in student loan debt. A recent report from LendingTree reveals that although Gen Xers are now in their prime earning years, many are refraining from homeownership due to substantial debt. The report analyzed the credit profiles of Gen Xers who own homes and compared them with those Continue Reading Learn more

May15

Newly renovated homes on the market in north Minneapolis for under $200K

They have hardwood floors and stainless steel appliances. But with Avenue “N” in the address, are people buying these rehabbed homes? By: Kiya Edwards MINNEAPOLIS — Some home buyers overlook north Minneapolis. Not Julia Israel. Over the course of 20 years, Israel has owned a few different homes. All in north Minneapolis. “I like the Continue Reading Learn more

May06

For Some Cincinnatians, the Home Buying Process is an American Dream Deferred

By: Nick Swartsell Fewer black Cincinnatians own their own homes. The reasons why are complex — and some go back decades Buying a home is often framed as a quintessential part of the American dream. But data shows that the dream doesn’t manifest itself equally for everyone in Cincinnati. About 24 percent of black households Continue Reading Learn more

May05

The politics of home

By: Tiana Webb Evans Homeownership has always been fraught for black Americans. My teen son reminded me decor choices can be, too. When it came to flexing my muscle as a “picker,” a term used lovingly by design dealers to describe an expert in the art of acquiring vintage pieces, one of my big wins Continue Reading Learn more

May01

Black families have a dime for every dollar held by whites

By Charlene Crowell If you’re like me, every time you hear a news reporter or anchor talk about how great the nation’s economy is, you wonder what world they are living in. Certainly, these journalists are not referring to the ongoing struggle to make ends meet that so much of Black America faces. For every Continue Reading Learn more

Apr29

The Neighborhood Is Mostly Black. The Home Buyers Are Mostly White.

Nationwide, the arrival of white homeowners in places they’ve long avoided is jolting the economics of the land beneath everyone. RALEIGH, N.C. — In the African-American neighborhoods near downtown Raleigh, the playfully painted doors signal what’s coming. Colored in crimson, in coral, in seafoam, the doors accent newly renovated craftsman cottages and boxy modern homes Continue Reading Learn more

Apr26

Black, Hispanic Communities Still Feeling Legacy of Housing Crisis

By Mike Albanese A new report by Zillow states that 31.4% of all foreclosures that occurred between January 2007 and December 2015 occurred in predominantly black and Hispanic communities. According to the report, black communities accounted for 12.7% of foreclosures, and that number grew to 19.4% in Hispanic communities. Zillow further points out that homes Continue Reading Learn more