Blog

Jan11

Homeownership disparities a Minnesota blight

Minnesota Housing Finance Agency wants to cure it Minnesota has ranked among the worst states in terms of racial disparities in homeownership. The Minnesota Housing Finance Agency (MHFA) has made it a priority to mitigate those inequities and close the gap. “Minnesota’s homeownership disparities between White households and Households of Color has been persistent and continues Continue Reading

Jan11

“Vestiges of segregation”: US homeowners fight deeds that exclude buyers based on race

When Rachel Rintelmann closed on her Washington-area home a few years ago, something caught her eye: a paragraph in her deed had been crossed out with a quick X, written in pen. It restricted who could “use or occupy” the house, allowing “no person of any race other [than] the Caucasian race”. “I chuckled because Continue Reading

Dec30

Past Housing Policies, Practices Contribute To Iowa’s Racial Homeownership, Wealth Gaps

White Iowans own their homes at nearly three times the rate of Black Iowans, one of the biggest racial homeownership gaps in the country. Nationally, this gap is wider than it was 50 years ago, because discriminatory housing policies and practices of the past and present are still hurting Black families and their ability to build generational Continue Reading

Dec15

The Benchmark: Episode six

For this episode, Blend CEO and co-founder Nima Ghamsari met with Antoine Thompson, executive director of the National Association of Real Estate Brokers (NAREB), the largest and oldest organization of Black real estate professionals in America. The two had a wide-ranging discussion: how to narrow and eliminate the nearly 30% gap between Black and white homeownership in America and how technology can Continue Reading

Dec15

Along with the social justice aspects of fostering diversity in real estate, it makes sense from a financial standpoint as well

Along with the novel coronavirus, diversity and inclusivity are among the most notable social topics of the 21st century. Our world and its 7.6 billion inhabitants are more diverse than ever, yet inequality and racial discrimination are unfortunately rampant, in various forms. The real estate industry is no exception.  In fact, the problem of inequality exists within Continue Reading

Dec07

Black Millennials fueled a surprising 2020 home-buying surge for African Americans

New York (CNN Business)Owning a home was never a priority for Kenyan immigrant Lynne Poole or her husband, Aaron prior to 2020. The newlyweds, like many Millennials, enjoyed the lifestyle that came with renting an apartment in a major city — in their case, Denver. Lynne, 31, moved there in 2016 to earn her master’s degree in communications Continue Reading

Dec02

Initiative Targets ‘Disproportionate’ Challenges of Black Homeownership

Black homeowners face more foreclosures, more tax liens, and higher unemployment rates than their non-Black counterparts—a New York City-based project powered by data and artificial intelligence revealed these racial disparities in homeownership. The collaboration between SAS Advanced Analytics and Center for NYC Neighborhoods (CYNC), which advocates for aspiring and existing homeowners in the city, occurred at a “critical Continue Reading

Dec02

Keeping it Real: The Festering and Imminent Re-Hollowing of Black Homeownership

  “Foreclosure prevention measures, data collection, and reporting must be prioritized to stave off preventable foreclosures.” -National Consumer Law Center Amid this raging coronavirus pandemic, Black Americans continue fighting for equity at every turn;  chief among these battles is the quest for economic security. The foundation of such security for Blacks as with most Americans, Continue Reading

Nov02

Black homeowners lose about $14K over the life of a mortgage

Black homeowners lose an average of about $14,000 over the life of a mortgage and about $67,000 in retirement savings due to higher interest rates, according to the National Association of Real Estate Brokers eighth annual State of Housing in Black America report. The analysis of 2019 HMDA data found that Black borrowers locked in Continue Reading

Nov02

Why homeownership costs for Blacks are disproportionately high — and what can be done about it

Why homeownership costs for Blacks are disproportionately high — and what can be done about it African-American homeowners pay hundreds of dollars more per year in mortgage interest and mortgage insurance premiums than White homeowners, a “Black tax” on homeownership that intensifies the nation’s wealth gap. That’s according to research by Ed Golding, executive director of the Continue Reading

Nov02

Bank programs seek to widen the path to Black homeownership

When Delmar Freeman began shopping for a home last year, he knew the biggest hurdle would be cobbling together enough money for a down payment. The D.C. native, who has been a firefighter in the District for 15 years, says he watched home prices in the city inch up over the years and worried he Continue Reading

Nov02

4 Reasons Why Home Ownership Is Still a Fantastic Investment

Out of darkish occasions like the widespread and tragic lack of life we’ve endured in the course of the coronavirus pandemic there has to return some good. In spring 2020, the real estate business, like so many others, was impacted by uncertainty and a nationwide shutdown that saved us from doing our jobs. However we collectively confronted this Continue Reading

Oct27

U.S. Auto Insurance Industry Admits Systemic Racism

The Black Lives Matter movement is spurring the American auto-insurance industry to acknowledge its decades-long discrimination against Black drivers — a long overdue reckoning for an industry that also subsidizes road carnage. A new industry study reveals that auto insurers charge Black drivers with good records more than white drivers with bad records — among Continue Reading

Oct24

How discriminatory Real Estate practices continue to hurt black communities in the U.S

The considerable levels of segregation between white and black communities still exist in large American cities, and debate about the causes of this residential separation has been considerable. A keen analysis of the factors that might explicate residential separation in this country—such as discrimination, urban structure, social preferences, and economic status (affordability)—reveal that a variety Continue Reading

Oct23

The pandemic is threatening Black homeownership gains

Black homeownership rose to a 12-year high earlier this year, reaching 47% by the second quarter, according to the U.S. Census Bureau. Still, African American families own homes at much lower rates than whites, who were at 76% in the same quarter for a difference of 29 percentage points. The COVID-19 pandemic has the potential Continue Reading

Oct23

Black Oregonians Have the Lowest Rates of Homeownership

From high mortgage and loan denial rates to gentrification, a history of discriminatory practices has prevented Black Oregonians from buying a home. In a December 2019 report, a state task force revealed that Black Oregonians had the lowest rates of homeownership, with 32.2% of households owning a home. More than double that percentage of white households Continue Reading

Oct22

Racial disparities in homeownership rates contribute to wealth gap and impacts of COVID-19

After Congress had rejected two earlier versions of the Civil Rights Act of 1968, commonly known as the Fair Housing Act, the third version appeared to be going nowhere prior to the April 4th 1968 assassination of Martin Luther King, Jr. It was that crystalizing moment and the resulting civil unrest that spread across the Continue Reading

Oct21

Black people in Indianapolis facing inequities with home loans according to IU study

Black residents in majority-Black areas are both the least likely to apply for a home purchase loan and the most likely to be denied when they do apply. INDIANAPOLIS — Black people living in Indianapolis are facing inequities when trying to get home loans according to an IU study released Tuesday. It found that in Continue Reading

Oct21

Donating Materials, Time and Talent to Boost Black Homeownership

Randal Wyatt was working as a student advocate for a Portland nonprofit, as well as performing as a hip-hop artist, when police killed George Floyd in Minneapolis. He’s long been outspoken on social justice issues through his work and on social media; soon he was flooded with direct messages from white people, both friends and Continue Reading

Oct15

Urban Institute’s Laurie Goodman to speak at HousingWire Annual Oct

Panel is on Increasing Homeownership in Underserved Communities This year has been a numbers game. How low are the rates this week? How long will borrowers be in forbearance? Will the next stimulus bill be enough? The pandemic has created a long list record-breaking figures, but behind all the headlines and statistics are real people Continue Reading