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black homeownership

An article on The Grio discusses the steady decline of Black homeowners and how the problem is likely to get worse before it gets better.

Since figures peaked at around 50 percent during the brighter economic times of 2006, the number of Black homeowners has now fallen to 44.8 while the nation’s overall rate is 66.4 percent.

The Grio reports:

The Center for Responsible Lending calculates that about 11 percent of African-American homeowners are in some stage of foreclosure, and that 1.1 million black families will lose their homes by 2012.

Sadly, the alarmingly low number of black homeowners is likely to dip further this decade due to a variety of factors.

Read more at TheGrio.com

RELATED:

Credit Union Study Says Homeowners All In Default Aren’t Deadbeats

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