CNN, May 23, 2022, Black buyers are getting squeezed out of the hot housing market
The market is pricing out first-time homebuyers of all backgrounds, but Black buyers face even bigger barriers.
Black applicants were denied home loans at a much higher rate than other groups, according to a Zillow analysis of data from the Home Mortgage Disclosure Act. Nearly 20% of Black applicants were denied a mortgage in 2020 compared to 10% of White applicants. Credit history was the most common reason given to Black applicants for being denied.
