Homeownership is the most common way households in America build wealth but many members of classes protected by the federal Fair Housing Act (e.g., race, national origin) struggle to achieve or maintain homeownership. We conduct research to gauge the extent of disparities, identify solutions, and measure progress toward fair housing-related policy goals.
Despite recent encouraging signals for the mortgage market overall, we find that trends in loan volume, the kinds of loans being made, and where and to whom loans are made, indicate that notable variation persists in how effectively different groups can access credit.
Additionally, research shows that homes in neighborhoods of color are often valued below comparable homes in White neighborhoods. And that contributes to the wealth gap between Black and White households and can be a barrier to purchasing a home. Our mixed-method analysis concluded that race bias in home appraising is an issue that must be addressed by all levels of government.