Addressing Racial Disparity in Home Ownership/ Wealth?

[Michael Leeson]

What are you doing or seeing that effectively addresses racial disparity in home ownership/ lending/ generational wealth?

Hopefully this is a fairly straightforward question about a heavy and complex topic!  

It's well documented in my city (Madison, WI) that African Americans have historically been cut out of home ownership through redlining, discriminatory lending, etc. What are some creative and effective things you are seeing/doing that ACTUALLY address this? 

[Anthony Gayden]

Originally posted by @Michael Leeson:

What are you doing or seeing that effectively addresses racial disparity in home ownership/ lending/ generational wealth?

Hopefully this is a fairly straightforward question about a heavy and complex topic!  

It's well documented in my city (Madison, WI) that African Americans have historically been cut out of home ownership through redlining, discriminatory lending, etc. What are some creative and effective things you are seeing/doing that ACTUALLY address this? 

Redlining, discriminatory lending, etc have been outlawed for years and are no longer an issue. Credit history, funds for a down payment, and a steady work history are the real limiting factors, and that does not apply just to Black people, but anyone who wants to buy a home.

We need to focus on financial education. Specifically debt management, saving, investing, and budgeting. I highly recommend the book the Total Money Makeover by Dave Ramsey. It is simple and straightforward and works for anyone.

 Another issue specific to some market are housing costs. Policies that make it hard to build housing have inflated housing costs to the point where lower income people are unable to afford even the most modest home.