News Analysis By Charlene Crowell –
(TriceEdneyWire.com) – For the 12th consecutive year, America’s national homeownership rate has declined, according Harvard University’s Joint Center for Housing Studies (JCHS)’ annual report, State of the Nation’s Housing 2017. This year’s report also found these declines vary by race and ethnicity.
As some might expect, the steepest homeownership decline occurred in Black communities, where the percentage of homeowners dropped to 42.2 percent. Among the nation’s largest metro areas, Black homeownership declined the greatest in Atlanta, Baltimore, Dallas and Detroit. By contrast, Latino-American homeownership is higher at 46 percent; but both communities of color severely lag behind the nearly 72 percent rate of white homeownership.
“The ability of most US households to become homeowners,” states the report, “depends on the availability and affordability of financing.”