US home ownership jumps, but race gap widens: data report
-
Lebanon reports 11 dead in strikes that Israel says targeted Hezbollah
-
Monica Bellucci and Florin Serban win at Locarno Film Festival
-
Crystal Palace sign Israel winger Khalaili
-
India's Padikkal hits unbeaten century in first Sri Lanka Test
-
Rescuers search for survivors as Indonesian quake death toll rises to 47
-
Liechtenstein places gender equality on its throne
-
Taliban govt supporters dance, take selfies in Kabul celebrations
-
Street rallies held as Taliban govt marks five years ruling Afghanistan
-
UK PM urges 'reflection' after Cambridge professor's death
-
World Cup winner Ferran Torres signs for PSG from Barcelona
-
Rescuers search for survivors as Indonesian quake death toll rises to 40
-
Monsoon rains submerge villages, fields in Myanmar
-
Earthquake rocks Spain's tourist jewel Granada
-
India's Padikkal, Rahul hit half-centuries in Sri Lanka Test
-
Perez, Fiorini set world records in winning Euro race walk golds
-
UK-based Afghan writer pleads for country's 'abandoned' women
-
Lebanon says 9 dead in strikes as Israel says targeted Hezbollah
-
Werro edges Hodgkinson in boost for world record-seeking 800m rivalry
-
World Cup winner Ferran Torres signs for Paris Saint-Germain
-
Mehidy claims Smith as Bangladesh sense historic upset in Australia
-
Disney reveals 'X-Men' cast, slate of sequels at D23 fan event
-
Indonesia rescuers search for survivors as quake death toll rises to 38
-
Star Cameroon goalkeeper Bihina faces Malawi's prolific Chawinga sisters in WAFCON final
-
Japan coach Jones says team should not get despondent after heavy loss
-
Mehidy claims Smith to keep Bangladesh on top in Australia Test
-
Flags, music as Taliban authorities mark five years ruling Afghanistan
-
Iran fires back at Trump's threat to declare Hormuz a US territory
-
'Like we were on a trampoline': Indonesia quake kills 20, thousands flee
-
No monkey business: India 'whisperers' guard world championships
-
Australia run riot to crush Japan 56-17 in Townsville
-
Steady India 101-1 at lunch in first Sri Lanka Test
-
Stolen Matisse works tied to infamous art thief in Brazil
-
Faced with historic drought, the Dutch rethink water management
-
Hasan strikes twice for Bangladesh to reduce Australia to 51-2
-
Pallister holds off Ledecky to win Pan Pacs 400m free title
-
Powerful quake off Indonesia kills 20, sparks mass evacuations
-
India's Modi woos youth with free coaching, AI training
-
Mehidy half-century steers Bangladesh to 228-run lead in Australia Test
-
Mehidy half-century steers Bangladesh to big lead in Australia Test
-
Japan defence minister visits war shrine, PM stays away
-
Powerful quake off Indonesia sparks mass evacuations
-
Viennese woman sues city over 'discriminatory' toilet fees
-
Poweful quake off Indonesia sparks mass evacuations
-
Venezuelan amputees adjust to new life after quakes
-
LA Olympics has to allow politicians on the bus, just not behind the wheel - Coe
-
Venezuela frees 131 prisoners amid post-Maduro transition talks
-
No.1 Scheffler fires sizzling 61 to seize PGA St. Jude lead
-
Arteta tells Arsenal fans not to fret over his future
-
Venezuela frees more political prisoners amid post-Maduro talks
-
Mexico's Indigenous chief justice hits back at discrimination
US home ownership jumps, but race gap widens: data report
US home ownership jumped at an historic rate in 2020, but a racial gap widened as more Black households were priced out, according to a report released Wednesday.
Low interest rates helped fuel a 1.3 percent rise in home ownership in 2020, the biggest annual increase since the US Census Bureau began tracking the data in 1960, according to a report by the National Association of Realtors (NAR).
But it showed the persistence of a racial ownership gap in the United States that the report says has actually widened as home prices have soared.
Home ownership of Black Americans was 43.4 percent in 2020, below the 44.2 percent in 2010, although it rose 1.4 percent in 2020 from 2019.
That increase is below that of white and Hispanic households.
"This is the only race/ethnic group whose homeownership rate is lower than 10 years ago," the NAR report said. "As a result the home ownership gap between White and Black households became even larger in 2020."
Home prices have soared nearly 30 percent since 2019, which means a typical home is about $80,000 more expensive than before the coronavirus pandemic, a reflection of tight inventories, NAR said.
Among other groups, 72.1 of white households owned homes in 2020, compared with 61.7 percent of Asian households and 51.1 percent of Hispanic households.
The difference in home ownership has been seen as a critical component of the persistent US racial wealth gap highlighted by the Biden administration.
However, legislative efforts to directly address racial inequity have repeatedly faced legal challenges in the Biden years on programs such as restaurant aid and support for farmers.
The NAR report said Black Americans have the highest mortgage denial rates, saying that "low income seems to be the main reason" for the rejections.
But the report also pointed to survey results that nearly half of African-American households were steered away from specific neighborhoods, a similar level to that experienced by Latinos and Asians.
Black and Asian households also said they encountered more strict lending requirements due to discrimination, the NAR report said.
J.Saleh--SF-PST
