Posted on 03/17/2024 8:18:50 AM PDT by where's_the_Outrage?
African Americans are trailing their white counterparts in homeownership across age groups at a time when high mortgage rates, elevated prices and stifled supply has made the dream of owning a home out of reach for millions of Americans.
A third of Black millennials—the age group born between 1981 to 1996—own their home compared to two-thirds of white Americans. Meanwhile, for those between 43 and 58 years old, or Gen Xers, the situation is slightly better with 52 percent of Black Americans possessing a property compared to 80 percent of their white counterparts, and for boomers, the data breaks down 60 percent Black homeowners with 85 percent white property owners, according to real estate platform Redfin.
The cost of home loans, which, in the fall of last year, soared to two-decade highs and still hovers around 7 percent—along with the increase in prices due to a limited supply of homes—has made affording a home tough for huge swathes of Americans.
Black Americans have especially struggled in this market, Redfin points out. Only 7 percent of properties available for sale in 2023 were affordable for Black prospective buyers compared to 22 percent of white Americans.
The racial homeownership gap is part of larger disparities seen in the broader American economy. Black Americans earn less on average compared to white employees and have less wealth—for every $100 worth of affluence for white households $100, their Black counterparts have $15. This contributes to challenges in raising the capital necessary to own a home, according to Redfin. Research suggests that Black Americans are more likely to tap into their retirement savings to generate a down payment compared to other demographic groups in the U.S.
(Excerpt) Read more at newsweek.com ...
It seems to me that an avalanche of these articles are being presented at this time, or being resurrected. The rats must be scared that some plantation blacks may be waking up and joining the Trump Train.
There’s a shortage of cribs?
To be honest, I am surprised home ownership is that high among blacks.
Why would anybody expect a group that consists mostly of bastards, excuse me, persons without fathers, to have the same level of success in life as a group that mostly has fathers?
Oh, wait, I know. Because by progressive ideology, fathers do not make a difference.
Scratch the surface of racism and you find that it’s fundamentally hatred of men.
Hard to trust an article when the author can’t bother to get the punctuation right in the first word of the title.
Leading Report
@LeadingReport
BREAKING: Under Trump, a household income of $59,000 a year could “comfortably afford the monthly mortgage on a typical U.S. home, but under Biden, that number has risen to over $106,000, according to a new Zillow report.
omar mohammed, a racist writing weak news.
Bingo! Kudos!
Their ghetto culture brings them down more and more. They embrace their anger and their victimhood. And, clearly, their economic status does not benefit from this path.
Try acting White. It works.
An article from WeakNews written by a Mooselimb.
Those black and tan Millennial’s may not have much “home” ownership but they own the entire urban jungles, much bigger territory than a single house. Plus they can always go to their tribal chieftain mayor and demand free section 8 housing. /spit
Get a copy of AP style guide and it will be enlightening.
Trillions of dollars in welfare. Countless “programs” to encourage black Ho ownership. Maybe, like othe things in life, black millenials aren’t interested in owning their own homes.
Let's open the borders to the entire world so tens of millions of people can come in and increase the need for housing as well as increase the need for jobs and this way we will have a lot more homeless - except of course for those people who crossed the border who will get free hotel rooms - and when the number of homeless has increased it will be utopia!
This has been a public service announcement by TILL - The Institute of Leftist Logic, our motto is "It only makes sense if it doesn't make sense!"
Try working hard instead of playing victim to get everything handed to you, stealing stuff, and saying the white man is keeping you down.
There are very few blacks at the location I work at. This is for all job levels. Plenty of every other race.
I am white, but come from a poor family.
I was able to buy a place almost ten years ago because I saved money over the years. It isn’t much, but it is mine. I did it on my own. I didn’t marry a rich girl or get help from my family. Built up my credit, took out a loan to help with the purchase, and paid off the loan last summer. Did the same with college before all of this.
Frequently, I’m reminded by the ACLU and democrats that Black’s and other ethnic segments of society don’t have the means to acquire government issued ID. They need one to bring to a successful closing on a house. Not having the means and wherewithal to buy a house is moot until they solve their “access to a government ID” challenge.
It often takes two incomes to buy property.
Many black women may know how to milk Uncle Sam’s welfare programs but it comes at a cost of not acquiring a husband and real property.
Black males should have tried harder to get construction employment. Hispanics now know the business and blacks will typically have a harder time getting a foothold in a business that pays enough to support family life.
Just another mohammedan rage boy.
I’ve seen black male drivers for Amazon. It’s a good job.
Black females often favor medical or government work. All the workers at the place I got my Covid vaccine jabs at were black, often from the Caribbean. Black males often seem to lack necessary focus. Perhaps school systems should offer classes in career opportunities.
Donks keeping Blacks on the ghetto plantations. It’s what they do.
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