BBC News, July 10, 2022, America’s race gap between black and white homeowners
Ms Cox has the means to buy the $310,000 property she wants in Miami without a loan but her application was going nowhere fast.
The bank questioned her income, requested additional bank statements and demanded she restart the process due to filing errors, among other issues, she says.
“I said, ‘What are you all doing? Why don’t you try to close my loan?’ And they said they couldn’t give me an answer,” the 65-year-old said.
Ms Cox’s experience reflects a national pattern, one that studies suggest is getting worse. According to the National Community Reinvestment Coalition, the gap between white and black homeownership rates in the US is at its widest in 120 years.