Black Americans still face 'disproportionately steep hurdles' to homeownership, expert says
Publishing timestamp: 2024-02-14 08:30:01
Summary
A recent study by LendingTree found that the share of homes owned by Black people remained the same between 2021 and 2022. Black Americans face disproportionately steep hurdles in becoming homeowners, with Black people owning a smaller share of homes relative to their population size in the largest metropolitan areas. Income disparity, lack of access to intergenerational wealth, and barriers such as down payments and the tax system contribute to the challenges faced by Black Americans in achieving homeownership. Experts emphasize the importance of addressing these structural hurdles to reduce racial inequality in homeownership.
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Keywords: economic events, mortgages, united states, investment strategy, breaking news: investing, business news, personal finance, housing, real estate, lendingtree inc, social issues,
Source: https://www.cnbc.com/2024/02/14/black-americans-still-face-steep-hurdles-to-homeownership.html