Close the racial wealth gap by encouraging more home ownership

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According to a survey by the Federal Reserve, U.S. homeowners have 40 times the wealth of non-homeowners. Despite best intentions and recent efforts, the homeownership gap for Black and Latino communities remains stubbornly wide. In January, the U.S. Census Bureau released the homeownership rates for 2022, which showed that white people have a 74.4 percent homeownership rate, Black people are at 45.9 percent and Hispanics come in at 48.6 percent.

Homeownership percentages and generational wealth…

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Gary Acosta & Carolina Jannicelli

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