March 23, 2005
Despite growth in home ownership rates, a sizeable and persistent racial homeownership gaps, says research from the University of Southern California Lusk Center for Real Estate.
The study found that a rise in homeownership rates among households since the 1980s was caused largely by improvement in household income. At the same time, substantial gaps in homeownership rates between whites and minorities continued -- averaging about 26 percentage points for blacks and 28 points for Hispanics, according to the study.
In the second quarter of 2004, homeownership rates reached 69 percent nationwide, with 76 percent for non-Hispanic whites, 50 percent for blacks and 47 percent for Hispanics.