Research Report A Landscape Scan of Homeownership for Households of Color
Caitlin Young, Michael Neal, Janneke Ratcliffe
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Over time, homeownership is a superior vehicle for creating wealth and economic stability for households. And these benefits can spill over into the broader community as well. However, several factors, including the impact of structural racism and household level financial disparities, limit the ability of households of color to achieve homeownership. This landscape scan also demonstrates that the ability of households of color to achieve or maintain homeownership can be further undermined amid an adverse shock event, such as a recession or a climate catastrophe. Given the geographic and economic breadth of racial homeownership inequities, all level of government as well as the private sector must partner to solve this challenge. This report offers several policy solutions that can spur additional progress toward this goal. However, it also points to research indicating that closing racial homeownership rate gaps may not close corresponding housing wealth gaps. For this reason, we urge stakeholders to take additional steps toward ensuring that homeownership outcomes more broadly are optimized for households of color.

Research Areas Housing finance
Tags Racial barriers to housing Racial and ethnic disparities Racial homeownership gap
Policy Centers Housing Finance Policy Center