Why the homeownership gap between White and Black Americans is larger today than it was over 50 years ago. (via CNBCMakeIt)
, there is a homeownership gap of 50% between White and Black residents. Even in cities with larger Black populations and more economic opportunity, like Washington, D.C. and Los Angeles, a large homeownership gap of 20 to 25% still remains.
Lisa Rice, president and CEO of the National Fair Housing Alliance, recalls how these discriminatory practices directly affected her family. In 1963, when she was just six months old, she says her parents went to purchase a home in Ohio and were blatantly told they could only buy property in a particular neighborhood.
Rice, who now plays a critical role in ensuring equal housing opportunity for everyone, explains that what happened to her family is the result of redlining practices, which is the systemic denial of bank loans and government resources to residents of specific neighborhoods. "We've never had a time in American history when mainstream lenders were the primary source of credit for people of color," she says. "It has always been subprime lenders who are the providers of credit."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
White Georgia police officer uses shock weapon on Black woman, faces investigation as video goes viralA white Georgia police officer is under investigation by his department after his tasing of a Black woman led to a viral video that's been viewed over 18 million times, generating social media outrage.
Read more »
Drive-Thru Karen Blasts Black Guy for Hanging Out with White FriendsRacist Karen goes on drunk rant while at drive-thru.
Read more »
A White Couple Allegedly Terrorized Their Black Neighbor for 3 YearsJohn McEneaney and Mindy Canarick allegedly took a blowtorch to Jennifer McLeggan’s house one night, wore blackface, threw feces on her lawn, left four dead squirrels in her yard, and said that McLeggan could be “erased”
Read more »
It's a black and white world
Read more »
White Long Island couple charged following harassment complaints by Black neighborWhen numerous complaints made to police failed to stop the alleged harassment from several of her white neighbors, Jennifer McLeggan, a single Black mother, posted a large handwritten sign on the front door of her New York residence informing the community 'I live in FEAR for my life at home.'
Read more »