The Washington Post, November 17, 2023, Our Kids Don’t Want Our Paid-Off House — Or Our Ashes
In 1940, the Black homeownership rate was 22.8%, nearly half of the 45.6% for Whites, according to the National Community Reinvestment Coalition.
Until 1968, homeowners and real estate agents could legally refuse to sell homes to African Americans and other people of color. Financial institutions, with the backing of federal policy, carved out sections of cities in a racially motivated system called redlining. It allowed banks to deny mortgage loans based on a home buyer’s race. The Fair Housing Act of 1968 made these practices illegal.
