Minority Homeownership At All-Time High

Minority homeownership rate set a new all-time record of 48.8 percent in the second quarter of 2001, with 13.2 million minority families owning their homes.

1 minute read

July 28, 2001, 8:00 AM PDT

By Abhijeet Chavan @http://twitter.com/legalaidtech

The overall homeownership rate of 67.7 percent tied the all-time record high. A total of 72.3 million American families owned their homes in the second quarter of this year - the most at any time in American history. The new 67.7 percent homeownership rate ties the previous all-time record set in the third quarter of 2000.The Bush Administration is proposing several initiatives to increase housing opportunities for all Americans, particularly minority families and those with special needs. For example, the President is proposing a $200 million American Dream Downpayment Fund and is expanding the Section 8 Homeownership Program to help low-income families overcome the initial costs of buying a home.

Thanks to Abhijeet Chavan

Read the full story: HUD 01-072

Thursday, July 26, 2001 in HUD News

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