The wealth gap between blacks and whites would take 225 years to disappear, according to one recent, rather optimistic, estimate. As to how this could happen, theories abound.
Squeezing shut the homeownership gap is a popular solution, and understandably so. A century of racist housing policy—redlining, mortgage loan discrimination, preferential housing subsidies—has created major barriers to homeownership for black Americans. Simultaneously, the federal government has long promoted homeownership as one of the primary asset building mechanisms in the U.S. The result: A homeownership gap that largely overlaps with the wealth gap. But will eliminating the former also do away with the latter?
According to a new paper from the Samuel DuBois Cook Center on Social Equity at Duke University: Not really.
[For more on this story by TANVI MISRA, go to https://www.citylab.com/equity...e-wealth-gap/558410/]
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