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The Racial Wealth Divide in 2043 Homeownership Parity and the Racial - - PowerPoint PPT Presentation
The Racial Wealth Divide in 2043 Homeownership Parity and the Racial - - PowerPoint PPT Presentation
Doug Ryan Director of Affordable Homeownership Prosperity Now Solutions for Affordable Housing NHC 2017 National Housing Policy Convening November 29, 2017 The Racial Wealth Divide in 2043 Homeownership Parity and the Racial Wealth Divide
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Homeownership Parity and the Racial Wealth Divide
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Housing Remains Main Form of Wealth for Low-Income and Minority Households
10 20 30 40 50 60 70 80 90 100
1992 2004 2007 2010 2013
Median Wealth (Thousands of 2013 dollars)
Homeowner Housing Wealth Homeowner Non-Housing Wealth Renter Total Wealth
Low-Income Households Minority Households 10 20 30 40 50 60 70 80 90 100
1992 2004 2007 2010 2013
Median Wealth (Thousands of 2013 dollars)
Notes: Medians for housing and non-housing wealth are calculated independently of one another and therefore do not sum up to total median net wealth Non- housing wealth includes cash savings, savings in retirement accounts, stocks and bonds. Values are adjusted for inflation with the CPI-U for All Items. Low income households are in bottom income quartile for each year. Source: JCHS tabulations of Federal Reserve Board, Survey of Consumer Finances.
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Notes: Hispanics may be of any race. White, black, and Asian/other are non-Hispanic and include households reporting a second race until
- 2003. After 2003, Asian/other includes all other households and households reporting more than one race.
Source: JCHS tabulations of Housing Vacancy Survey data.
The Homeownership Gap Has Narrowed for Hispanics and Asians, But Widened for Blacks
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2 4 6 8 10 12 14
White Black Hispanic Asian/Other Cumulative Change in Homeownership Rate (Percentage points)
10 20 30 40 50 60 70 80
All White Asian/ Other Hispanic Black Homeownership Rate in 2016 (Percent)
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- 10
- 8
- 6
- 4
- 2
2 4 6 8 10
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 Change in Homeownership Rate Since 1990 (Percentage Points) 25-34 35-44 45–54 55–64 65-74 75 and Over
Age of Household Head
Rates Have Fallen Below 1990 Rates for All But Oldest Age Groups
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Prime Credit Scores and Race
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10 20 30 40 50 60 70 80 90 100 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Below 620 620–659 660–699 700–739 740 and Higher Credit Score
Note: Data include only conventional first-lien purchase mortgage originations. Source: JCHS tabulations of CoreLogic data.
Tight Lending Standards Limit Mortgage Access
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- 120,000
- 90,000
- 60,000
- 30,000
30,000 60,000 90,000 120,000 Under 35 35-44 45-54 55-64 65-74 75+
Who’s Going to Buy Your (California) House in 2020?
Source: Dowell Myers, Immigrants and Boomers, Figure 11.3, 2007
Hispanic Asian and Pacific Islander Black Non-Hispanic White
Net buyers Net sellers
Number of Buyers Less Sellers
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