Sharp spike in Black, Asian and Latino homeownership

Source: Abha Bhattarai & Alyssa Fowers, Washington Post (Paid Registration)

Helped by pandemic-era stimulus programs, Black, Latino and Asian households saw the sharpest increase in homeownership in 2021 since the Great Recession, when all their levels of owning had fallen, according to an analysis of new federal data by The Washington Post.

In interviews, minority first-time home buyers who bought during the pandemic said a combination of extra savings, low interest rates and rapidly-rising rents prompted them to purchase property. Almost all said they ended up buying sooner than they’d planned to, because they were quickly being priced out of rental homes and apartments.

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