Bloomberg Law: Coronavirus Could Be New Housing Crisis for Communities of Color

Bloomberg Law, May 20, 2020: Coronavirus Could Be New Housing Crisis for Communities of Color

The coronavirus pandemic has shattered the U.S. economy, but its effects are most acute on African-American, Latino and immigrant communities, driving down home-ownership rates even further, and worsening wealth inequality, say housing advocates. Housing is one of the key ways that families can build generational wealth that can be passed between generations and provide a buffer against financial shocks.

“Home ownership is how we build wealth,” said Yoselin Genao Estrella, the executive director of the Neighborhood Housing Services of Queens CDC Inc.

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