General World News

Equity jumps for Black homeowners, but problems remain

A recent Redfin report showed both good and bad news for Black homeowners as the first quarter of 2021 nears its end.

The positive: Black homeowners earned an average of $59,000 in home equity in 2020, compared with $50,000 for white homeowners through the period of 2019 to January 2021. That $59,000-gain represents a median home equity increase of 197%.

The negative: Even with the uptick, Black homeowners on average still report only $89,000 in equity, compared to $113,000 for white Americans.

That $89,000 is the lowest median equity among the four races represented in the Redfin study, as Asian homeowners reported details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com