“Starting with baby boomers, every generation of Black Americans has attained homeownership at a slower pace than the generation that preceded them,” Apartment List said.
Black homeownership rates have been largely stagnant for decades, despite rising slightly in recent years, according to a new analysis from Apartment List.Currently, the Black homeownership rate is 44% — up from 40.8% in 2016, with the number of Black homeowners increasing by about 750,000 in a five-year span. Yet that’s still just below the Black homeownership rate seen in 1980, researchers at the rental-listing platform said in a report released Tuesday.
“The racial wealth gap in the United States has persisted since Emancipation, and after narrowing for over a century following the end of slavery, it is widening again today,” the Apartment List researchers wrote. “Homeownership plays a major role. Owning a home has long been considered a reliable path to economic security and generational wealth.
Yet even before the Fair Housing Act of 1968 made such race-based discrimination illegal, Black homeowners were resilient; the Black homeownership rate almost doubled from 23% in 1940 to 45% in 1980, the Apartment List analysis said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Georgia Grand Jury Recommended Indictments for More Than a Dozen People in Trump Probe, Foreperson SaysThe Georgia grand jury that investigated possible interference in the 2020 election by Donald Trump and his allies recommended indictments against over a dozen people — a list 'might' include the former president.
Read more »
Perspective | Why it’s important to teach Black kids Black history and cultureA cultural arts program in D.C. teaches Black children how to tell their story, know their history and save their souls
Read more »
Barbershop Talk with Temple: Family going from Black-owned business to Black-owned empireThe Mission Valley business owner didn't know how to read and write until he was in his 20s and now he's setting the example for people of color on how they can be their own boss.
Read more »
ABC7 celebrates Black History Month at annual luncheon at DuSable Black History MuseumABC7 celebrated Black History Month with our annual luncheon Tuesday at the DuSable Black History Museum and Education Center.
Read more »
Black Girl Freedom Week: It’s time we invest in Black girlsThe Black Girl Freedom Fund acknowledges that Black girls are at the forefront of social justice movements “despite having to navigate intersecting systems of oppression, under-investment and an erasure of their experiences and contributions.” Black women and girls are also at the forefront of driving the economy forward, as the fastest growing demographic of entrepreneurs in the U.S. according to a study conducted by JP Morgan. President & CEO of Grantmakers for Girls of Color Dr. Monique W. Couvson and founding President and CEO for Girls for Gender Equity Joanne Smith joined American Voices to discuss.
Read more »