NAREB Releases Report About Black Homeownership in America
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.