Rule 15. Expect Unfairness in Homeownership

Homeownership is one of the pillars of the classic American Dream. Not only can it help individuals and families build wealth through equity and tax incentives, but it can also increase social stability by creating stronger bonds within neighborhoods and surrounding communities. However, the current homeownership 1 gap between Black and white Americans is as wide as it was at the beginning of the 20th century. From predatory lending practices 2 targeting minority borrowers to the impact of decades-old policies 3 from the segregation era, potential Black homeowners face an array of systemic biases 4 that can make the home-purchasing process even more difficult than it already is.

Similar biases also face Black homeowners when they attempt to sell their homes, particularly in the appraisal process 5 . Real estate agents have even gone so far as to make Black-owned homes appear to have white owners to increase property value 6 , which only adds to the myriad of obstacles that Black American homeowners have to deal with.