MarketWatch, March 11, 2021, Black Homeownership rate hits lowest
Asante-Muhammad: One thing again about the 60% number — and highlighting that we would need to triple the amount of new Black homeowners every year for 20 years in order to get to 60% Black homeownership — I’m hoping that can be a signal to major lenders about the level of [increased lending] they need to do if they do want to make sure that African Americans are strongly majority homeowners.
That means they’re going to have to do much more to create affordable mortgage products for the middle. The median income for Black households is like $44,000. So, [these] mortgage products, they have to hit the majority of African Americans and Latinos.
