[quoted]”In the report, the authors argued that the vast majority of African Americans who attempted to buy homes in the U.S. were either trapped in predatory mortgage schemes, or denied access to home loans altogether. This is particularly detrimental to the long-term health of African-American families…because homeownership is the ‘single most important asset’ for wealth accumulation in most United States households.”[/quoted]
The urbanists who rant about equity and bringing renters into the political process should note this report from a national African-American association of real estate brokers, which calls for increased homeownership among Black households. How is HALA intended to increase homeownership among historically underrepresented communitites? Upzones and redevelopment will destroy the very housing stock that is already owned by communitites of color.