Mortgage forbearance has provided immense relief to homeowners during the COVID-19 pandemic. When relief ends, experts will naturally look to the Great Recession for guidance and lessons learned. When they do, it is imperative they realize the differences between the two economic crises.
Where someone grows up and their race or ethnicity affect their economic opportunities and outcomes over the rest of their lives. This makes it more difficult for children in families with low incomes to achieve economic stability in adulthood.
The pandemic highlighted the structural racism that upholds our political and economic systems and has long disadvantaged Asian, Black, Latinx, Indigenous, and Pacific Islander people and communities in this country.
The American Families Plan includes a historic investment in young children and public education that aims for universal preschool and broad access, especially for children of color and children from families with low incomes. But truly universal preschool may require an even larger investment.