{"id":22915,"date":"2023-11-10T15:40:14","date_gmt":"2023-11-10T15:40:14","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=22915"},"modified":"2023-11-10T15:40:14","modified_gmt":"2023-11-10T15:40:14","slug":"black-homeownership-remains-disparately-low","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/","title":{"rendered":"Black Homeownership Remains Disparately Low"},"content":{"rendered":"\n

The U.S. homeownership rate has posted its highest annual rise on record, reaching 65.5% in 2020, 1.3 percentage points over the year before. Hispanic homeownership soared to a record high and is above 50% for the first time on record.<\/p>\n\n\n\n

However, Black homeownership continues to lag and has fallen to a lower level than it was a decade ago, according to a report from the National Association of REALTORS\u00ae. Black homeowners continue to face significant obstacles to homeownership, like high levels of student debt. They also are among the most likely\u2014along with Hispanic applicants\u2014to be rejected for mortgage loans, the report says.<\/p>\n\n\n\n

The homeownership rate for Black Americans is 43.4%, trailing the 2010 rate of 44.2%. By contrast, the homeownership rate for White Americans is 72.1%, 61.7% for Asian Americans, and 51.1% for Hispanic Americans. NAR\u2019s 2022 Snapshot of Race and Home Buying in America<\/a> report analyzes homeownership trends and identifies housing challenges by race.<\/p>\n\n\n\n

Affordability Challenges Persist<\/strong><\/p>\n\n\n\n

\u201cAs the gap in homeownership rates for Black and White Americans has widened, it is important to understand the unique challenges that minority home buyers face,\u201d says Jessica Lautz, NAR\u2019s vice president of demographics and behavioral insights. \u201cHousing affordability and low inventory has made it even more challenging for all buyers to enter into homeownership, but even more so for Black Americans.\u201d<\/p>\n\n\n\n

Since 2019, the price of the typical home has risen by 30%, or by about $80,000, according to NAR. About half\u201451%\u2014of all homes currently listed for sale are affordable to households with an income of $100,000 or more. However, only 20% of Black households have incomes greater than $100,000. In comparison, 35% of White households have incomes of more than $100,000, while 25% of Hispanic American households and nearly half of Asian American households reach that level.<\/p>\n\n\n\n

Higher rental costs are also pressing on household budgets. Half of Black Americans spend more than 30% of their monthly income on rent. Nearly three out of 10 Black renter households (28%) and one in five White renter households (20%) are considered severely cost-burdened. That is defined as spending more than 50% of a household\u2019s monthly income on rent.<\/p>\n\n\n\n

\u201cBlack households not only spend a bigger portion of their income on rent, but they are also more likely to hold student debt and have higher balances,\u201d Lautz says. \u201cThis makes it difficult for Black households to save for a down payment and as a result, they often use their 401(k) or retirement savings to enter homeownership.\u201d<\/p>\n\n\n\n

Speaking Up for Fair Housing<\/strong><\/p>\n\n\n\n

NAR has taken an active role to combat the racial homeownership gap. The association serves on the steering committee of the Black Homeownership Collaborative(link is external)<\/a>, which has a seven-point plan charged with increasing Black homeownership by a net 3 million by 2030. NAR also has its ACT plan<\/a>, which emphasizes \u201cAccountability, Culture Change, and Training\u201d to advance fair housing in the industry. NAR offers an interactive training platform, Fairhaven<\/a>, which puts real estate professionals in simulated situations where discrimination in a real estate transaction can occur. The association also offers its members an implicit bias video<\/a> and classroom training to offer strategies that help real estate professionals override biases in their daily interactions.<\/p>\n\n\n\n

NAR has also taken an active voice to advocate for more housing inventory and affordable housing, which includes expanding and creating tax incentives and zoning reforms. NAR and the Rosen Consulting Group published a report that examines the causes of America\u2019s housing shortage and provides solutions to address it.<\/p>\n\n\n\n

View the report: Housing is Critical Infrastructure: Social and Economic Benefits of Building More Housing<\/a><\/p>\n\n\n\n

\u00a9National Association of REALTORS\u00ae
Reprinted with permission<\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. homeownership rate has posted its highest annual rise on record, reaching 65.5% in 2020, 1.3 percentage points over the year before. Hispanic homeownership soared to a record high and is above 50% for the first time on record. However, Black homeownership continues to lag and has fallen to a lower level than it … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-22915","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nBlack Homeownership Remains Disparately Low - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Black Homeownership Remains Disparately Low\",\"datePublished\":\"2023-11-10T15:40:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/\"},\"wordCount\":592,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/\",\"name\":\"Black Homeownership Remains Disparately Low - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"datePublished\":\"2023-11-10T15:40:14+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/black-homeownership-remains-disparately-low\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Black Homeownership Remains Disparately Low\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/\",\"name\":\"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"description\":\"Properties and Real Estate for Sale\",\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\",\"caption\":\"admin\"},\"logo\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/anthony-110x150.jpg\"},\"description\":\"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.\",\"sameAs\":[\"http:\\\/\\\/www.anthonydidonato.net\"],\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Black Homeownership Remains Disparately Low - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/#article","isPartOf":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/"},"author":{"name":"admin","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"headline":"Black Homeownership Remains Disparately Low","datePublished":"2023-11-10T15:40:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/"},"wordCount":592,"publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"keywords":["Anthony DiDonato","News","Real Estate","tips"],"articleSection":["News","Real Estate Tips"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/","url":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/","name":"Black Homeownership Remains Disparately Low - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","isPartOf":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website"},"datePublished":"2023-11-10T15:40:14+00:00","breadcrumb":{"@id":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.anthonydidonato.net\/wordpress\/black-homeownership-remains-disparately-low\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.anthonydidonato.net\/wordpress\/"},{"@type":"ListItem","position":2,"name":"Black Homeownership Remains Disparately Low"}]},{"@type":"WebSite","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#website","url":"http:\/\/www.anthonydidonato.net\/wordpress\/","name":"Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania","description":"Properties and Real Estate for Sale","publisher":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"http:\/\/www.anthonydidonato.net\/wordpress\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/#\/schema\/person\/964792b6994e8cc4cbddc36ad4824908","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","url":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","contentUrl":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg","caption":"admin"},"logo":{"@id":"http:\/\/www.anthonydidonato.net\/wordpress\/wp-content\/uploads\/2020\/03\/anthony-110x150.jpg"},"description":"For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both. Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary. Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that \u201cperfect\u201d property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently. When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting \u2013 or exceeding \u2013 his clients\u2019 expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame. For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania\u2026 call Anthony DiDonato.","sameAs":["http:\/\/www.anthonydidonato.net"],"url":"https:\/\/www.anthonydidonato.net\/wordpress\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/22915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/comments?post=22915"}],"version-history":[{"count":0,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/posts\/22915\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/media?parent=22915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/categories?post=22915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.anthonydidonato.net\/wordpress\/wp-json\/wp\/v2\/tags?post=22915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}