Testimony Disparate Impacts of the COVID-19 Pandemic across Race and Ethnicity in the Housing Market
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Testimony before the US House Committee on Financial Services
Jung Hyun Choi
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Jung Hyun Choi, senior research associate at the Urban Institute, testified before the  US House Committee on Financial Services about inequality in the housing market. The testimony focused on how recent changes in the housing market environment—including rising interest rates, increasing home prices and rents, and tighter lending standards—are making it more difficult for households of color to obtain and sustain homeownership and are widening the racial wealth gap. The testimony also notes that two promising demand-side strategies—better targeting down payment assistance and incorporating rental payment history into mortgage underwriting—could help the federal government address these disparities.

Research Areas Housing finance
Tags Homeownership Racial and ethnic disparities Racial wealth gap Inequality and mobility COVID-19
Policy Centers Housing Finance Policy Center