Housing is critical for building equity and wealth. Discrimination in lending, as well as predatory financing that focused on African Americans, have been key reasons for the wide wealth gap between blacks and whites, experts say.
"As these costs become bigger and bigger, you have a lower amount of money to spend on non-shelter related expenses,'' says Michela Zonta, senior policy analyst with the Center for American Progress."This is very critical for working-class families.... It would leave a small amount of money for education, for food.''
Sen. Elizabeth Warren of Massachusetts says that by boosting the supply of affordable housing, she would cut rents by 10%.
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