The obstacles to Black homeownership are deeply rooted in American history. The effects are still felt today.
The obstacles to Black homeownership are deeply rooted in American history, and the effects are still felt today. Black Americans have a higher student loan debt balance than white Americans, which affects their ability to qualify for a mortgage, said Dorothy Brown, a law professor at Georgetown University and author of the book "The Whiteness of Wealth."
On average, Black college graduates owe $25,000 more in student loan debt than white graduates, the Education Data Initiative, an education data and research nonprofit, And even with the new student debt relief plan, the forgiven amounts "may not be enough for you to lower your…income to debt ratio, such that the mortgage lender thinks you are an attractive borrower," Brown said.
Then, in the 1930s, came the practice known as redlining, which largely barred Black Americans from applying for home loans. The U.S. government "classified different neighborhoods based on how safe it was to give out mortgage loans," according to the
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