A new analysis of Home Mortgage Disclosure Act data shows the low interest rates homebuyers enjoyed in 2020 and 2021 had an outsized impact on efforts to close the racial home ownership gap in Massachusetts.
The pandemic run-up in real estate prices is disproportionately benefiting Black homeowners, a new analysis by Zillow finds, helping correct years of systemic discrimination and bias in the real estate industry.
Federal housing regulators want input from industry and community groups on how Fannie Mae and Freddie Mac will measure their own efforts to reduce racial inequality in the mortgage market.
Massachusetts’ CommonWealth Builder program effectively reduces the price of new housing units by subsidizing developers up to $150,000 per home. And unlike traditional affordable housing, it allows homeowners to realize the full market appreciation of their unit if they live there for at least 15 years.
Massachusetts elected officials must have a “roadmap” in place and address the underlying causes of inequality if they want a historic injection of federal funding to help close racial wealth gaps
With divergent homeownership levels blamed for yawning racial wealth gaps both nationally and locally, a group of housing and civil rights leaders have released a proposal to create 3 million net new Black homeowners by 2030.
Less than one in three Latino Bay Staters own their own home, the lowest level of any major racial ethnic group in Massachusetts in a new National Association of Realtors study.
Today, many of these neighborhoods house Black and immigrant populations that have been excluded from an aspect of the American dream – building wealth through equity. Most recently, the spotlight came down on the role real estate appraisers might play in perpetuating undervaluation of homes in some neighborhoods or owned by people of color.
CATIC fully supports the courageous efforts of those who are conscientiously working every day to change our society for the better by standing up for equality, equity and justice for the African American community, writes its chief compliance officer, Robert Hogan.
While the banking and real estate industries may have played substantial roles in perpetuating racial inequalities in America, that doesn’t mean firms today have to resort to charity to help heal those wounds.
Minority homeownership rates have grown little since the Fair Housing Act was passed in 1968. The answer is to create an AmeriCorps of financial educators who can help homebuyers of color afford homes – and keep them.
Down payment assistance is driving strong, mission-driven lending in a difficult market. That’s why MassHousing is expanding our down payment assistance program, to make sustainable homeownership possible for more buyers, in more communities across the state.
