CityLab, April 11, 2018: How the Fair Housing Act failed black homeowners
Fifty years after the Fair Housing Act, the full historical weight of banks’ discriminatory practices is still evident in the persistent racial segregation of communities. While discrimination in lending is illegal, disparities in lending are enormous. According to an investigation by Reveal from the Center for Investigative Reporting earlier this year, African Americans and Latinos continue to be denied mortgages at far higher rates than whites in 61 metro areas. Using the data from Reveal and other sources, CityLab has visualized how that discrimination manifests itself in two of those cities.
The gulf between black and white households in new home mortgages reflects a vicious cycle—one in which a lack of wealth blocks the creation of new wealth, a cycle spanning generations.