The National Association of Real Estate Brokers, whose mission statement is “democracy in housing,” released its 2021 State of Housing in Black America. The report says that Blacks not only suffered disproportionately during the COVID-induced recession but continue to work against institutional racism.
The homeownership gap between Blacks and whites is larger than it was more than 80 years ago when the Federal Housing Administration was established. The homeownership rate in the second quarter of 2021 was 74.2% for white households and 44.6% for Black households.
Read the full report to learn about how appraisals, mortgage lending, credit scoring, student loans, employment, and more affect the housing market for Black Americans.
Where do they get these stats? The homeownership gap between Blacks and whites is larger than it was more than 80 years ago when the Federal Housing Administration was established. The homeownership rate in the second quarter of 2021 was 74.2% for white households and 44.6% for Black households. and that total is 118.8 % Hmmm…. Just curious
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I think it’s poorly worded. I believe they meant 74.2% OF white households own homes. 44.6% OF Black households own homes.
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There are other factors which contribute to the disparity between black and white home ownership. Blaming this on “institutional racism” without any supporting data is irresponsible. Even the linked information goes on to blame biases and racism without detailing which specific policies or laws are responsible for targeting blacks or minorities on the basis of skin color. In fact, how is it that “institutional racism” has LESS an effect on black IMMIGRANTS? African immigrants perceive the least amount of discrimination in the housing market out of all black immigrants, and along with Jamaicans, have higher home ownership rates ,& higher… Read more »
I believe that Texas Realtors are completely committed to standing for social justice and racial equality and that’s been the case going back decades. The authors of this report do not agree and write “institutional discrimination continues to permeate almost every aspect of the real estate industry”. They are entitled to their opinion but like you I did not read of any detailing of specific policies or laws that are responsible for targeting or that validate their statement. About a year ago we all received a provided link that NAR received an unprecedented number of complaints about REALTORS. Legitimate or… Read more »
Please, be specific before you accuse us all of participating in “institutional racism”.
Addressing specific areas of need is appropriate.
Your statement is almost libelous.