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Current & Proposed Efforts for Improving African American Homeownership

Rather than narrowing, the gap in homeownership rates by race has grown steadily over the last century. In 1900, the gap between white and Black homeownership was 27.6%, that gap has not improved in the last 121 years with U.S. Census Bureau data from April 2021 showing a 29.6% difference between white and Black homeowners. The difference in median wealth has been attributable almost entirely to homeownership and the passing of resources through inheritance. Shapiro (2006) explains that homeownership acts as a vehicle for savings and for growing capital over the life course: “Homeownership and housing appreciation are the foundation of institutional accumulation. Indeed, for most Americans, home equity represents the largest reservoir of wealth: home wealth accounts for 60% of the total wealth among America’s middle class.”

The Research, Policy, and Impact Center hosted a colloquium on the topic of increasing Black homeownership moderated by Dr. Stephen Sills. Our guest speakers included:

  • Sofia Crisp, Executive Director, Housing Consultants Group.
  • Jung Hyun Choi, Senior Research Associate, Housing Finance Policy Center, Urban Institute.
  • Lauren Lowery, Director, Housing & Community Development, National League of Cities.
  • Joshua Devine, Director of Racial Economic Equity, National Community Reinvestment Coalition.
  • Michael Wallace, Vice President, Business Account Management Solutions, Fannie Mae.
  • Sam Gunter, Executive Director, NC Housing Coalition.

Please watch the recording of this discussion at:

Additional materials: