Black Americans face steep hurdles to homeownership, says expert

Black Americans continue to face disproportionately steep obstacles to homeownership, according to a study by LendingTree. The share of homes owned by Black people remained unchanged between 2021 and 2022, indicating persistent challenges.

In the 50 largest metropolitan areas of the US, Black people make up 14.99% of the population but own only 10.15% of owner-occupied homes. Income disparity, limited access to intergenerational wealth, and a tax system that benefits those who can already afford a home are some of the factors contributing to these hurdles. Experts emphasize the need for continued efforts to address racial inequality in homeownership.