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  - WN.COM - Health - 09/Jul 17:00

Harvard Report: Black Homeownership Gains Have Halted

For the first time in 30 years, rising home prices and interest rates have translated into a drop in existing home sales and worsening affordability challenges for middle-class families. Among the nation's 46 million renter households, only one in seven — 6 million — in 2024 earned at least $126,700, the amount needed to afford a $2,570 monthly payment on a $412,500 median-priced home. And these escalating costs likely contributed to the 771,480 people who were unhoused in 2024. For Black Americans, the homeownership gains that occurred between 2019 and 2023 have halted. Last year, the white-Black homeownership gap remained stuck at 27.7 percentage points, and the same measure for Latino...

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