Calls for social and economic change gripping America have shed new light on the racial wealth gap. The statistics are as stunning as they are troubling: retirement-age black families typically hold less than 10 percent of the wealth of their white counterparts. But closing this gap means addressing persistent discrimination in markets that have gone unchecked for decades. We should start with homeownership.
As millions have come to understand, homeownership is one of the best ways to build wealth and secure a nest egg. Home equity makes up over one-third of household wealth—more than any other asset class. And yet, disparities remain with retirement-age black families holding less than half the housing wealth as white families.
