Dear Friend,
Out of the 67,000 mortgages insured by the GI Bill, less than 100 went to African Americans. Black History Month gives us the opportunity to learn more, and sit longer with hard to absorb facts such as these.
Here are two more. According to the Pew Charitable Trusts and data derived from the US Census Bureau:
In 2022, 74.6% of White households owned their homes, compared with 45.3% of Black households
In 1960, the White homeownership rate was 65%, and the Black rate was 38%
The gap is widening.
Homeownership is often referred to as the ‘American Dream’ but this ‘dream deferred’ is what is behind the crushing poverty of so many of our citizens. As a housing developer, we see the positive effects every day of what takes place happen when the opposite happens when the dream is realized.
Thank you for your support of affordable housing in your neighborhood,