African American Home Ownership Falls to 50-year Low

African American Home Ownership

The home ownership rate for black households ended 2016 at 41.7 percent, near a 50-year low, according to the U.S. Census Bureau. Black home ownership hasn’t been this low since the time when housing discrimination was legal.

Equally troubling to advocates is a widening gap between black home ownership and other major ethnic groups. The black home ownership rate is now 30.5 percentage points lower than non-Hispanic whites (72.2 percent) and 22 percentage points lower than the national home ownership rate of 63.7 percent. It is also 4.6 percentage points lower than the Hispanic home ownership rate, the group with the next-lowest home ownership rate among the major ethnic groups, at 46.3 percent as of year-end 2016.

Read full article @ National Association of Real Estate Brokers