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June 19, 2021

A Snapshot of Race And Home Buying In America

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This report examines the homeownership trends among each racial group in the last 10 years. Since all real estate is local, homeownership opportunities vary by area. Thus, the report also examines where most of minority homeowners are located and which areas are more affordable for these households. Finally, using the National Association of REALTORS® Profile of Home Buyers and Sellers data from 2020, the report looks into the characteristics of who purchases homes, why they purchase, what they purchase, and the financial background for buyers based on race.

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Steven A. Sugarman Speaks at 74th Annual NAREB Convention on Expanding Black Homeownership

The Change Company, America’s Community Development Financial Institution (CDFI), announced today that its founder Steven Sugarman presented to the 74th Annual National Association of Real Estate Brokers (NAREB) Convention in Cleveland, Ohio. Mr. Sugarman spoke during the Legislative Forum and discussed the unique opportunity for advocacy that exists for NAREB and The Change Company to impact public policy and end government sponsored or sanctioned redlining in America. Mr. Sugarman discussed advocacy positions which would help to immediately expand homeownership across the Black community and begin to reduce the wealth gap between Black and white families in America.

Expanding Homeownership In LMI Communities

Homeownership remains the primary means by which most households in this country can attain wealth.Yet many families—especially those of color—are locked out of the opportunity to buy homes of their own. Homeownership rates in low- and moderate-income (LMI) communities and for people of color have historically been considerably lower than other groups, making it one of the largest drivers of the racial wealth divide. Barriers to accessing mortgage finance are a major explanation of this.

Can’t Ignore The Racial Disparities:' Black Americans' Net Worth Is One-Seventh Of Whites

The average net worth of Black families is $142,330 — or just one-seventh of the $980,550 in wealth accumulated by white Americans, according to a new study from LendingTree that draws on data from the Bureau of Labor Statistics, the 2020 Economic Policy Institute report, and various Federal Reserve reports.