Thegrio Politics
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Black Millennials Responsible for Surge in Homeownership in America
Posted
August 13, 2021
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August 13, 2021
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6:37Now PlayingThe COVID-19 pandemic has brought out a number of unexpected surprises in America, such as a rise in homeownership rates.
Another surprise was that Black millennials have helped fuel the surge. They raised the Black homeownership rate by more than 2% during the first three quarters of 2020 alone, according to the U.S. Census Bureau.
Also, according to Census data compiled by the Federal Reserve Bank of St. Louis, there was an increase in Black homeownership from 42.7% in 2019 to 46.4% in 2020, which has signaled that Black America has begun to use homeownership as a tool to build wealth and shrink the wealth gap between Black and white households.
Shanta Patton, regional vice president of the National Association of Real Estate Brokers, joins Charles Blow on “Prime” to talk about the upward trend of Black millennials buying homes.
All this and more on “Prime.”
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#BlackMillennials #Homeownership #CharlesBlow
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