Data shows strides have been made in Black housing wealth

Black homeowners are creating wealth that could set up the next generation of homeowners. According to data taken from the most recent Home Mortgage Disclosure Act, home values for Black owners increased at a higher rate compared to other races during the pandemic.

Isaiah Harris found a dream home and with it, a place to create value that he believes will grow over time.

“Find an area I could find a good house and build equity in,” Harris said.

According to data from Zillow and the most recent Home Mortgage Disclosure Act data, the home value gap between Black-owned homes and homes overall in Charlotte has improved.

Although strides have been made in Black housing wealth and owning a home, ownership and overall value is still well below that of a typical U.S. household. Alphonso Ogbuehi, dean of the College of Business and Professional Studies at Johnson C. Smith University, said targeted policy and programs will increase both value and Black ownership.

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