Roland Martin
@rolandsmartin·1.9M subscribers·31.6K videos
Black Home Ownership Plummets, Here's How We Can Reverse The Troubling Home Ownership Trend ...
Posted
March 7, 2019
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23:13Now PlayingThe 2008 financial and housing crisis wiped out half of the Black wealth in America. Ten years after the financial crisis, Black home ownership has dipped to a record low.
Alanna McCargo, Vice President of Housing Finance Policy at the Urban Institute. Joined Roland Martin on #RolandMartinUnfiltered to discuss the lasting impact of the home foreclosure crisis and what African Americans can do to reverse the troubling home ownership trend.
From the Urban Institute:
The racial homeownership gap has persisted in America for decades. The gap has grown since the Great Recession and has contributed to the racial wealth gap.
Studies have highlighted how a substantial disparity in the value of homes owned by black and white homeowners exacerbates the racial wealth gap. We recently confirmed and quantified this housing wealth gap using Panel Study of Income Dynamics (PSID) data. We identified three patterns of obtaining and sustaining homeownership that contribute to the housing wealth gap.
- Black homebuyers buy less expensive first homes with more debt than white homebuyers
- Black households buy homes later in life than white households and
- Black homeowners are less likely to sustain their homeownership than white homeowners
[Read more ]
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