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Spring 2002, Location and Home ownership Choices of African-American Households in Los Angeles

Gary Painter
While the U.S. homeownership rate rose percepibly over recent years to a record 67.1 percent in mid-2000, the longstanding white-minority homeownership gap of about 28 percentage points has changed little over the past 20 years. By late 1999, close to 74 percent of whites had achieved homeownership status, compared with only about 46 percent of African-American and Hispanic households. As a stated policy objective, the U.S. Department of Housing and Urban Development seeks to boost the national homeownership rate to 70 percent by 2006. Clearly, achievement of that goal requires significant upward movement in homeownership rates among racial and ethnic minorities