Wealth, in addition to income, helps families build financial security and prosperity. And even though

income disparities between Black and non-Hispanic white households are large, wealth disparities are

even greater. This wealth chasm has grown over the past five decades and fuels economic uncertainty

for Black households.

Homeownership is the primary tool for building wealth, especially for Black households, but

homeownership has failed to benefit Black homeowners as much as it has benefited white homeowners because of a long history of unequal treatment. The COVID-19 pandemic now threatens to widen this gap, as Black and Hispanic communities continue to suffer greater health and economic losses than white communities.

This report reviews the critical role housing equity plays in building wealth for Black families, the

policies that have interfered with wealth building through homeownership for Black families, and the

way the pandemic is exacerbating this gap. The report closes with a discussion of policies that can

reverse this trend and with a call for bold action.