A Look at the numbers…
Black and Brown homebuyers have been historically denied equal access to homeownership through intentional financial tools and government policies. This includes past practices such as redlining and contract buying, and continues today with higher loan denial rates, risk-based loan pricing, and opaque credit scoring procedures.
Today’s data shows that unequal access to credit is the driving force perpetuating the homeownership and racial wealth gap, with White families having 10x the net worth of Black families, and White homeownership being 73% compared to just 42% for Black families.
Community Response: The Housing Policy Task Force
First convened in 2016, The Housing Policy Task force is a group of more than 20 affordable housing advocates and professionals working to remove barriers to homeownership, expand the supply of affordable homes, and help current homeowners thrive and build wealth.
The Task Force is currently focused on addressing two aspects of homeownership access