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US Black-White homeownership gap grows wider: CNN

Xinhua | Updated: 2022-06-21 10:46

WASHINGTON -- Both the Black-White and Latino-White homeownership gaps grow wider than they were before the Fair Housing Act passed in 1968, according to a recent opinion article published by CNN.

"Systemic discrimination in housing and lending policies has been a prime engine of social and economic inequality among communities of color," the article wrote on Sunday, adding that Black households own about 2.9 percent of wealth in the United States, only slightly more than they owned in 1863 when the Emancipation Proclamation was signed into law.

The median White household today has about 188,000 U.S. dollars in wealth, compared to 24,100 dollars and 36,100 dollars for Black and Latino families, respectively, said the story.

"Without interventions, researchers project that by 2053, the median wealth for Black households will fall to 0 dollar, and by 2073, median Latino wealth will meet the same fate," said the media.

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