HOMEOWNERSHIP RATES
June 3, 2019
In the United States, homeownership is often assumed to be an important means of acquiring wealth. However, experts have increasingly pointed out that neighborhood and regional housing markets can experience downturns, during which homeowners can lose their accumulated equity.[i] Moreover, decades old policies and practices hamper minorities from benefitting from strong housing markets, which has contributed to weaker wealth accumulation for people of color who own homes.[ii] Still, homeownership can be an important means of achieving residential stability, and has been shown to be related to improved psychological health and greater participation in social and political activities.[iii] Studies have revealed that discriminatory practices in the real estate and banking industries are still common and present an obstacle to homeownership for many people of color.[iv]
