May27
Black Americans And The Racist Architecture Of Homeownership Last summer, DonnaLee Norrington had a dream about owning a home. Not the figurative kind, but a literal dream, as she slept in the rental studio apartment in South Los Angeles that she was sharing with a friend. At around 2 a.m., Norrington remembers, “God said to Continue Reading
May26
Older Black millennials are less wealthy than their baby boomer parents at that comparable age and are also falling well behind their White and Hispanic millennial peers in building net worth, a recent study shows. Economists at the Federal Reserve Bank of St. Louis examined how much wealth Black, Hispanic and White millennial families amassed between 2007 Continue Reading
May25
In 1906, four African American men attempted to develop an elite suburb for African Americans along Wisconsin Avenue between Chevy Chase and Friendship Heights, Maryland. Despite facing intense hostility from adjacent white landowners, at least 28 people bought lots. However, their vision was ultimately undone using subtler methods, showing how nominally race-blind tools can serve Continue Reading
May21
When I was in elementary school, my grandmother bought the house she would live in for the rest of her life. The first summer afterward, when we went to visit, she gave us a tour: a dresser exclusively for hats, an all-white living room that we were forbidden from entering, paper guest napkins that matched the green Continue Reading
May19
Homeownership for years has been an essential pillar for building wealth for most Americans. Yet a new report by Clever Real Estate discloses some eye-popping statistics on how racial disparities continue to linger in the nation’s housing market. As such, the discrepancies are hindering Black Americans’ capacity to increase their personal finances. America’s history of discrimination makes Continue Reading
May19
Carlette Duffy felt both vindicated and excited. Both relieved and angry. For months, she suspected she had been low-balled on two home appraisals because she’s Black. She decided to put that suspicion to the test and asked a white family friend to stand in for her during an appraisal. Her home’s value suddenly shot up. A lot. Continue Reading
May14
Are millennials leaving cities? Yes, they are. In fact, even before the COVID-19 pandemic, millennials moving into their prime homebuying years were increasingly choosing homes in suburban locations. Are young adults leaving downtown? No, they are not. The number and share of young adults in urban neighborhoods have gradually increased in recent years. These seemingly Continue Reading
May11
Earlier this year the Urban Institute studied the changing state of homeownership in the U.S., and DS News reported on a standout stat from said study—the soaring expected rate of homeownership among the Hispanic population. More recently, research associates Lauri Goodman and Jun Zhu reported that, while the overall number of new homeowners will increase Continue Reading
May11
This story is part of an NPR series, We Hold These Truths, on American democracy. Last summer, DonnaLee Norrington had a dream about owning a home. Not the figurative kind, but a literal dream, as she slept in the rental studio apartment in South Los Angeles that she was sharing with a friend. At around Continue Reading
May06
The coronavirus pandemic has underscored housing disparities between Black and white people in Louisville, with Black residents more likely to face financial hardships that put them behind on rent, according to a report from the Metropolitan Housing Coalition. The nonprofit agency, made up of more than 300 members, released its latest State of Metropolitan Housing Report on Tuesday, breaking down Continue Reading
May06
Anti-Black racism in the housing market is hurting homeowners across the US. Real estate company Clever collected data on home values across the US, looking at patterns across predominantly Black and white neighborhoods. The data shows that homes in majority Black neighborhoods are being massively undervalued, which has ripple effects across the larger US economy. Continue Reading
May05
With all the buzz surrounding millennials and their choices, it is tough to separate myth from reality. Often, myths have been promoted without careful consideration of the difference between age and generation. Some have compared millennials to baby boomers, although they are in different stages of life. Others assume that the struggles of millennials during Continue Reading
May05
In this competitive housing market it’s more important than ever to work with a real estate agent who can advocate for your priorities and steer you toward the right properties. Competition among buyers means sales are moving quickly, and having a professional by your side who can help you make the best offer to beat Continue Reading
May04
On May 25, 2020, millions of Americans were stunned by a Facebook livestream showing George Floyd pleading for help as Minneapolis police officer Derek Chauvin kneeled on his neck for nearly nine minutes. The news of Floyd’s murder ignited protests in Minneapolis and cities around the world, as the Black community called for accountability Continue Reading
May03
Twenty years ago, hundreds of Black neighborhoods in major cities were in good shape financially. Even before the pandemic, however, a majority had slipped into poverty. Cleveland had more than 900,000 residents in 1950, but by the year 2000 its population had fallen below 500,000. The city still had some areas of relative strength, however, Continue Reading
Apr29
Housing Secretary Marcia L. Fudge moved this week to reinstate fair housing regulations that had been gutted under President Donald Trump, in one of the most tangible steps that the Biden administration has taken thus far to address systemic racism. The effort comes less than three months after President Biden signed executive orders aimed at increasing racial equity across the nation, Continue Reading
Apr27
Incremental increases in homeownership rates and home values among Black households would help shrink the current $3 trillion racial wealth gap by hundreds of billions of dollars over the next decade, according to a new Zillow analysis. Today’s typical Black household has only about 23% of the wealth of a typical white household, down from Continue Reading
Apr26
The gap in homeownership rates between Black and White Americans grew to over 30% last year — which is higher than what it was in 1960, when racial discrimination in housing was legal. The fact that the Black homeownership gap has persisted since the passing of the 1968 Fair Housing Act, which outlawed housing discrimination, Continue Reading
Apr22
Some financial help was much needed as Sacramento housing prices soared amid a seller’s market, even with a pandemic in the mix. SACRAMENTO, Calif. — The Sacramento Housing and Redevelopment Agency (SHRA) wants people to buy a house in the city, and to sweeten the deal, offered grants of up to $22,000 for down payments and Continue Reading
Apr19
President Biden has consistently stressed the need to address the racial inequity that plagues America. Nowhere is this inequity more pronounced than the wealth gap. The typical Black family has one-eighth of the net worth of white households. Latinos have less than a fifth. Yet most of the $640-billion housing plan Biden proposed during the campaign will do nothing Continue Reading