Homeownership is often viewed as the entree to the American dream and the gateway to intergenerational wealth. However, this pathway is often less achievable for Black Americans who post a homeownership rate of 46.4% compared to 75.8% of white families.[1] Compounding matters, homes in predominately Black neighborhoods across the country are valued at $48,000 less than predominately white neighborhoods for a cumulative loss in equity of approximately $156 billion.[2] These are significant contributing factors to the racial wealth gap.
Authors
Rashawn Ray, Andre M. Perry, David Harshbarger, Samantha Elizondo, Alexandra Gibbons
- ACKNOWLEDGEMENTS
- The Brookings Institution is a nonprofit organization devoted to independent research and policy solutions. Its mission is to conduct high-quality, independent research and, based on that research, to provide innovative, practical recommendations for policymakers and the public. The conclusions and recommendations of any Brookings publication are solely those of its authors, and do not reflect the views of the Institution, its management, or its other scholars. Support for this publication was generously provided by The Change Company, LLC. Brookings recognizes that the value it provides is in its absolute commitment to quality, independence, and impact. Activities supported by its donors reflect this commitment.
- Published in
- United States of America
