Financial Services Innovation Coalition
No Result
View All Result
  • Home
  • About FSIC
    • Advisory Board
    • FSIC American Innovation and Opportunity Fund – Officers and Staff
  • Newsroom
  • Video

Financial Services Innovation Coalition
  • Home
  • About FSIC
    • Advisory Board
    • FSIC American Innovation and Opportunity Fund – Officers and Staff
  • Newsroom
  • Video
No Result
View All Result
Financial Services Innovation Coalition
No Result
View All Result
Home Media

FSIC Housing Task Force Blogpost – Black Homeownership Increases, but Hurdles Remain for True Equity

August 4, 2022
in Media
Share on FacebookShare on Twitter

 

Last month, the National Mortgage News reported that non-banks made nearly two-thirds of all traditional home purchases, a meaningful increase.  For instance, 7.9% of these mortgages went to African American borrowers, up from 7.3% in the previous year.  Asian households had a 7.1% home lending market share, improving on 5.5% in 2020, while Hispanic borrowers received 9.2% of the loans.  Additionally, the share of conventional purchase loans made to borrowers from underrepresented communities also increased.

It is still evident, however, that a significant homeownership gap exists in cities across the country.  An Axios DC analysis found that as the black population of the nation’s capital continues to decrease, the homeownership gap between black and white District residents continues to grow.  According to the DC Mayor’s office, 34% of DC homeowners are black, compared to 49% percent of white residents.  However, some cause for optimism can be found as the number of total black homeowners increased by nearly 4,000 in 2019.

Researchers have cited multiple causes for this lack of black homeownership nationwide, which include a lack of inventory and increasing prices.  Through its $10 million Black Homeownership Fund, Washington DC aims to find solutions to this crisis.

Our Housing Task Force aims to eliminate bias in the housing marketplace so that disadvantaged and minority families can close the wealth gap.  The latest findings from National Mortgage News show the importance of non-bank lenders in addressing the homeownership gap.

Ultimately, there remain opportunities for more efforts to increase housing.  For instance, there is the Revitalizing Downtowns Act, which would convert vacant office buildings into apartments.  Also, the Yes In My Backyard Act would require community development block grant (CDBG) recipients to go on the record with explanations for not adopting specific pro-affordability and anti-discriminatory housing policies.

Tags: Blog PostEconomic EmpowermentFSIC Housing Task ForceSocial JusticeTechnology

Related Posts

FSIC Housing Task Force Blog Post – Mortgage denial rate for Black borrowers is twice that of overall population, report finds
Media

FSIC Housing Task Force Blog Post – Mortgage denial rate for Black borrowers is twice that of overall population, report finds

October 2, 2022
FSIC Video Podcast – “What is Antitrust and Why are Monopolies Bad?”
Insights

FSIC Video Podcast – “What is Antitrust and Why are Monopolies Bad?”

October 1, 2022
FSIC Press Release – FSIC and Guap City DOA LLC Announce a Partnership to Grow a Digital City and Promote Sustainable Agriculture
Media

FSIC Press Release – FSIC and Guap City DOA LLC Announce a Partnership to Grow a Digital City and Promote Sustainable Agriculture

September 11, 2022
Media

FSIC Press Release – AIOF Congratulates Graduates from its Recent Dream Creators Workforce Development Program

August 9, 2022

TOPICS

AI Crypto Metaverse Facial Recognition antitrust Archived Press Release Bank Fees Banking Blog Post Congress Credit Reporting Economic Empowerment Facial Recognition FSIC Housing Task Force Health Care Hidden Fees legal Lending Market Overview MLK Birthday MLK Holiday monopolies monopoly Mortgage news release Op-ed Oversight Predatory Practices Press Release public private partnerships Redlining SECURE Act Segregation Social Justice Technology video Video Podcast Voting Rights Workforce

FEATURED POST

A Case for Inclusion

FSIC Economic Inclusion Reverse Discrimination Defense Initiative

February 21, 2023

FSIC Letter to Congress: Support the SECURE Act

November 28, 2022

FSIC Housing Task Force – Blog Post – “Is The New Bank of America Zero-Down Payment Mortgage Really Just Reverse Redlining?”

November 8, 2022
FSIC Housing Task Force Blog Post – Mortgage denial rate for Black borrowers is twice that of overall population, report finds

FSIC Housing Task Force Blog Post – Mortgage denial rate for Black borrowers is twice that of overall population, report finds

October 2, 2022

Tags

AI Crypto Metaverse Facial Recognition antitrust Archived Press Release Bank Fees Banking Blog Post Congress Credit Reporting Economic Empowerment Facial Recognition FSIC Housing Task Force Health Care Hidden Fees legal Lending Market Overview MLK Birthday MLK Holiday monopolies monopoly Mortgage news release Op-ed Oversight Predatory Practices Press Release public private partnerships Redlining SECURE Act Segregation Social Justice Technology video Video Podcast Voting Rights Workforce

About Us

FSIC is a network of Industry Innovators, Legislators, Community Groups, and Academics who share a passion for applying emerging technology and market innovation to create a more inclusive economy and advocate for policy which promotes economic empowerment.

Category

  • Insights
  • Media
  • News Release
  • Newsroom
  • Press Release
  • TechCast
  • Uncategorized
  • Video

Tweets

  • About
  • Contact

© 2022 FSIC - The Financial Services Innovation Coalition .

No Result
View All Result
  • Home
  • About FSIC
    • Advisory Board
    • FSIC American Innovation and Opportunity Fund – Officers and Staff
  • Newsroom
  • Support Our Work

© 2022 FSIC - The Financial Services Innovation Coalition .

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist