ABSTRACT
This chapter traces the legacy of homeownership among African Americans, a group who mostly were excluded from the benefits of homeownership, both tangible and ideological, until passing the Fair Housing Act in 1968. It provides an overview of African American homeownership post-1968. The chapter focuses on homeownership as a form of wealth accumulation for African Americans. It addresses policies aimed toward keeping homeowners in their homes after the Great Recession and the extent to which African Americans have participated in said programs. The chapter examines a call for a paradigm shift that promotes more equal distributions of wealth while continuing to encourage homeownership among African Americans. When considering the drivers of post-Recession African American declining homeownership rates and the widening gap between black and white wealth, two aspects come to the forefront: the subprime lending market and residential segregation.
