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.