Brief Building Black Homeownership Bridges
A Five-Point Framework for Reducing the Racial Homeownership Gap
Alanna McCargo, Jung Hyun Choi, Edward Golding
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The persistent racial homeownership gap and related wealth gap, have been in focus for some time. The declining black homeownership rate has reached an alarming level. The Urban Institute’s Housing Finance Policy Center has been conducting in-depth research pieces on these persistent issues, and convened a planning roundtable in 2018 to collect stakeholder feedback and experiences from a national and local perspective. From that work, five themes emerged around how to begin to reduce the gap and begin to build bridges toward change: (1) Advance policy solutions at the local level; (2) Tackle housing supply constraints and affordability; (3) Promote an equitable and accessible housing finance system; (4) Further outreach and counseling for renters and mortgage-ready millennials; (5) Focus on sustainable homeownership and preservation. This brief examines each of these five areas, suggesting areas of renewed focus and potential solutions and policy interventions for the future.

Research Areas Wealth and financial well-being Race and equity Housing finance Housing
Tags Federal housing programs and policies Asset and debts Racial and ethnic disparities Housing and the economy Single-family finance Credit availability Housing finance reform Homeownership Financial products and services Housing affordability Inequality and mobility Finance Racial barriers to housing Racial homeownership gap
Policy Centers Housing Finance Policy Center