Following reports that Black Americans owned homes in 2017 than in 1983, banker Teri Williams offers recommendations to diversify homeownership across the United States.
The gap in homeownership between black and white Americans is greater than it was in 1983, according to the "State of the Nation's Housing 2018" report from the Joint Center for the Study of Housing of Harvard University; just 43 percent of Black Americans owned homes in 2017, compared with 72 percent of whites. Teri Williams, a leader in the #BankBlack movement, lays out five strategies to combat the effects of the nation's racial wealth gap, shortage of affordable housing, and historically racist housing and banking policy.
One notable suggestion is beefing up first-time homebuyer programs, not only by increasing funding, but also by offering up municipal property. Rather than auctioning property acquired through foreclosures to investors, "a better alternative to diversify neighborhoods, offset gentrification and support community values would be to deed these properties to Black residents, organizations that offer first-time homebuyer programs or local private developers that partner with these organizations," Williams writes. Another recommendation is awarding Community Reinvestment Act (CRA) credits to banks for every loan provided to a Black first-time homebuyer.
FULL STORY: Five Steps Toward Ending the Black Homeownership Crisis in the US
4 Reasons Home Ownership Won't Close the Racial Wealth Gap
Homeownership is often promoted as a way for low-income and minority families to build wealth. But it is those very families who assume the most risk in buying a house.
Making Homeownership Work Better
Programs that help households of color buy homes haven't made much of a dent in the racial wealth gap. But some strategies could generate better outcomes for buyers.
Increased Homeownership Won’t Close the Racial Wealth Gap
Despite the hopes pinned on it, homeownership is still too affected by institutionalized racism at every turn to be an equalizer.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and "harrowing" close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)