Partly as a result of New Deal policies—including redlining, segregated communities separated by race walls, public housing, and federal highway construction—Black Americans have not had the same opportunities as their white counterparts for homeownership. From 1939 to 1969, for example, overall homeownership increased from 44 to 63 percent but less than 1 percent of all African Americans were able to obtain a mortgage. Why does this matter?
The following graphs provide more information about homeownership rates by race and about the value of those homes. Analyze the two graphs and answer the questions that follow.
Homeownership rates by race from 1900-2020.
Black and Latino or Hispanic homeowners have less housing equity. Median home equity (home value less outstanding mortgage balance) by race.