Blacks still face a red line on housing

Source: New York Times Editorial (Paid Registration)

For generations of white American families, homeownership has been a fundamental means of accumulating wealth. Their homes have grown in value over time, providing security in retirement and serving as an asset against which they can borrow for education or other purposes.

But African-Americans were essentially shut out of early federal programs that promoted homeownership and financial well-being — including the all-important New Deal mortgage insurance system that generated the mid-20th-century homeownership boom. This missed opportunity to amass wealth that white Americans took for granted is evident to this day in a yawning black-white wealth gap and in worse health, living conditions and educational opportunities for African-Americans.

Read Full Article: Blacks still face a red line on housing

 
 

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