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For Black homeowners, estimated home values rose from $3.4 billion to $6.2 billion over that period, while the net value of all owner-occupied homes in the city increased from $4.2 billion to $8.1 ...
A new study from University of Michigan Poverty Solutions showed that Detroit's Black homeowners gained $2.8 billion in home value during the span from 2014 to 2022.. The net value of these homes ...
The past two years have been particularly difficult, but even before 2021, Black homeownership was either falling or stagnant and remains far from its pre-2004 high of nearly 50%.
To close it sooner than that, according to McKinsey’s calculations, there would have to be a 20-year-long affordable housing plan, costing between $1.7 trillion to $2.4 trillion, producing 7.3 ...
In early August 2011, at its national convention in New Orleans, LA, NAREB announced an engagement with Wall Street investors to launch an $800 million Homeowner's Assurance Program (HAP) to address the effects of the housing mortgage crisis on African-Americans and other communities of color across the United States.
The program, which kicked off last year, has helped 434 residents become first-time homeowners with $12 million in American Rescue Plan Act (ARPA) dollars. During the initial program launch, 94% ...
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The term redlining stems from a decades-old pattern of discrimination – lenders color-coded maps to exclude homeowners in Black and other non-White neighborhoods from mortgages, on the grounds ...