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Blacks Less Likely to Own a Home Than they Were in 1990

According to a report by the Bipartisan Policy Center in Washington, African Americans are less likely to be homeowners than they were in 1990.  The current rate of black home ownership in the United States stands at 44.3 percent, which is lower than the rate of 45.2 percent in 1990.

Additionally, the gap between whites and blacks on home ownership has widened during the Obama presidency.  The gap is now 28 percent, which is the same that it was in 1990.  The drop in home ownership has led to a major drop in wealth for black and Latino families.  Between 2005 and 2009, African American lost more than half of their family wealth.