Homeownership rates among people of color are nearly 30 percent lower than among white families, according to data.
Homeownership rates among people of color are nearly 30 percent lower than among white families.
“Down payments typically come from intergenerational wealth, and you need good credit or to build credit,” said Miriam Axel-Lute, CEO of Shelterforce. “So our country's legacy of segregation and discrimination means there's the persistent racial gap in those things, so changing the rules of the game to make it more fair on the underwriting side. It's exactly the kind of structural changes that will help.
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