FOR MANY AMERICANS, the dream of homeownership and the long-term financial security this investment represents is a dream deferred or unrealized. Homeownership is often hindered by inequities within current home lending and appraisal processes, which research shows disproportionately impact people in communities of color. Though this broken system was created decades ago, perhaps the biggest drivers of the racial and ethnic wealth gap today are the racial and ethnic disparities in rates of homeownership and in the financial returns associated with owning a home. Today, the median white family holds eight times the wealth of the typical Black family and five times the wealth of the typical…Â Continue Reading
