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Pandemic led to sharp spike in Black, Asian and Latino homeownership [washingtonpost.com]

 

By Abha Bhattarai and Alyssa Fowers, Photo: Camille Lenain/The Washington Post, The Washington Post, November 1, 2022

The pandemic housing boom marked a new — though possibly short-lived — entrée into homeownership for Black, Asian and Latino families, many of whom had for years been sidelined into the much costlier rental market.

Helped by pandemic-era stimulus programs, Black, Latino and Asian households saw the sharpest increase in homeownership in 2021 since the Great Recession, when all their levels of owning had fallen, according to an analysis of new federal data by The Washington Post. The growth for minority households was more pronounced than for White households.

The recent housing surge also led to seismic changes in the rental market in 2021, as fewer Americans of every race and age rented for the first time since the Great Recession. For African Americans, 2021 marked the first time their share of the rental market dipped since 2000.

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