Closing the homeownership gap is essential to closing the country’s racial wealth gap. Homeownership is the biggest creator of wealth—more than income or access to higher education—and the Black-white homeownership gap is larger than it was in 1968. Ensuring greater access to homeownership is also crucial to making housing more affordable for communities of color and families with lower incomes. Black and Latino homeowners pay less of their income on housing than all renters, including white renters. Owners with low incomes pay 10 percentage points less of their income on housing than do renters with low incomes.
Join the Urban Institute for a virtual event exploring data and research on why homeownership is so much more affordable than renting and a robust discussion of what can be done to increase access to homeownership. We will discuss not only what the federal government can do, but what states, local governments, and organizations such as community development financial institutions can do now by tapping into available resources.
- Sherrod Brown, Senator, Ohio; Chairman, Senate Banking, Housing and Urban Affairs Committee (prerecorded remarks) @SenSherrodBrown
- Monique King-Viehland, Associate Vice President, Metropolitan Housing and Communities Policy, Urban Institute; former Executive Director, Los Angeles County Development Authority @mkingviehland
- Mike Loftin, Nonresident Fellow, Urban Institute; Chief Executive Officer, Homewise @loftinmd
- Lisa Mensah, President and Chief Executive Officer, Opportunity Finance Network @OppFinance
- Noel Andrés Poyo, Deputy Assistant Secretary for Community Economic Development, US Department of the Treasury @NpoyoA
- Sarah Rosen Wartell, President, Urban Institute @swartell