Reality Biz News, February 6, 2022, Initiative aims to boost Black homeownership rates to all-time high
The Black homeownership rate fell to just 42% in 2019, its lowest since 1970, according to date from the National Community Reinvestment Coalition. Now, the Black Homeownership Collaborative is aiming to create as many as three million new Black households to bump up that rate by more than 10%.
The Collaborative is a steering committee formed by associations and companies including the National Association of Realtors, the NAACP, Bank of America, and others. It has created a seven-point action plan to achieve its goal, which would see Black homeownership rates hit their highest-ever level if successful.
