According to a recent MReport article, there is a growing divide between African Americans and white homeowners. The report discussed an Urban Institute study on the nation’s demographics in regards to homeownership. The study specifically focused on African American and white homeowners in the United States. According to the article, the gap that had developed between homeowners began during the recession era. The study showed that the gap has only increased since then. The data reveals the gap between the two categories widening overall from 28.1% in 2010 to 30.1% in 2017.
WHAT ELSE DID THEY FIND?
105 of the nation’s metros that had more than 40,000 African American residents living within them were analyzed. Minneapolis had a homeowner gap of 51%, while Charleston’s gap was roughly 15%. The article discussed several contributing factors such as age, sex, employment, housing affordablity, income, and marital status. They found that 17% of the homeownership gap is unable to be explained by any tangible data or clear cut variables. The analysis found that 31% of the gap is attributed to income differences, and 27% of the gap is due to differences in marital status. The study points to a pressing need to narrow this divide, as well as providing several possible solutions.
Click here to read the full MReport and learn more.
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