February 21, 2020         
Comcast Celebrates the Year of the Rat With Continued Sponsorship of San Francisco’s Chinese New Year Festival & Parad   •   Fulton Mortgage Company Honored With First Annual Community Revitalization Award in Philadelphia   •   Learn4Life Rings the Bell for its 20,000th Graduate   •   iPhone 11 Pro doubles radiation exposure deemed safe for consumers, according to new test   •   The Author Incubator Launches New Program for Spanish Speaking Entrepreneurs   •   All About Ability Hosts "Able Awards" Ceremony For Commitment To Independence For Adults With Disabilities   •   New ESA ‘Game Generation’ Campaign Shows Video Game Play Brings Benefits Beyond Fun   •   Lake Travis Independent Living Wins Best Senior Living and Best Senior Living Dining by Senior Resource Guide   •   Lovers, Sub a Sandwich for a Ring This Leap Day and Quiznos May Cater Your Wedding – Assuming They Say “Yes”!   •   Public Counsel and Morrison & Foerster Announce Groundbreaking Settlement in California Literacy Lawsuit to Provide Immediat   •   The Michaels Organization and Highridge Costa Open Applicant Lottery for Hale Moena Kupuna   •   To Honor World Cancer Day, The WISDOM Study Seeks Support from Women to Modernize Breast Screening Guidelines   •   The CEO of Mako Medical Announced That the Company Was Awarded for Its Military Programs   •   7,000 Bacardi Employees Turn on Their ‘Out of Office’ to Visit Hundreds of Bars Across the Globe to Spark Conversati   •   Government of Canada and Inuit Heritage Trust unveil new artifacts from wreck of the Franklin Expedition   •   Legal Benefits of Using a Surrogacy Agency for LGBTQ Intended Parents and Others are Highlighted by New Utah Legislation, says G   •   Alliance for Women in Media, Foundation Announce 2020 Board   •   To Honor World Cancer Day, The WISDOM Study Seeks Support from Women to Modernize Breast Screening Guidelines   •   Respecting Choices® Becomes First Advance Care Planning Program to be Approved as an Evidence-Based Program by the Administr   •   Hemp Depot Redefines U.S. CBD Farming Economics With 70% Reduction in Feminized Seed Pricing
Bookmark and Share

Study Outlines Housing Affordability By Race

WASHINGTON - According to new data released by the National Association of Home Builders (NAHB), stark contrasts exist in housing affordability between major races and ethnic groups across the United States. The NAHB’s quarterly index, the NAHB/Wells Fargo Housing Opportunity Index (HOI), which measures housing affordability in metropolitan areas nationwide, was broken down for the first time in its history to analyze the differences in income and housing affordability in 2010 across five different races/ethnic groups.
The report examined median incomes and housing affordability for Whites, Blacks, Hispanics, Asians and American Indians/Alaska Natives. The HOI for all races/ethnic groups combined was 72.8 in 2010, meaning that 72.8 percent of all homes sold in the U.S. last year were affordable to families earning the national median income of $64,400.

In comparison, median family income was $69,000 for Whites, $42,300 for Blacks, $44,100 for Hispanics, $80,500 for Asians, and $43,200 for American Indians/Alaska Natives. Thus, 80.3 percent of homes sold in 2010 were affordable to White families earning the group’s median income, compared to 53.0 percent for Blacks, 51.0 percent for Hispanics, 76.4 for Asians, and 58.7 for American Indian/Alaska Natives.

“By breaking down the HOI by race and ethnicity, we have an even more accurate picture of housing affordability,” said NAHB chairman Bob Nielsen, a home builder from Reno, Nev. “Builders have generally known that their efforts to build affordable housing were especially important to minorities in their communities, and this new report helps confirm that.”

Affordability disparities were generally quite apparent in the most populous metropolitan areas. In the New York-White Plains-Wayne, N.Y.-N.J. metropolitan division, for example, 46.1 percent of all homes sold in 2010 were affordable to White families earning the group’s median income. In comparison, only 13.4 percent and 8.8 percent of homes sold in this division were affordable for Black and Hispanic families respectively.

Among large metro areas, the HOI for Blacks was higher than that for Whites in only four: Rockingham County-Strafford County, N.H.; McAllen-Edinburg-Mission, Texas; Boulder, Colo.; and Olympia, Wash. The HOI for Hispanics was below the HOI for Whites in every case analyzed.

“Previously, we have only computed a single, global HOI, either for a particular metropolitan area, or for the nation as a whole,” said NAHB chief economist David Crowe. “However, it was evident that affordability differences are dramatic and persistent across racial and ethnic lines. The NAHB/Wells Fargo HOI methodology is a precise way to demonstrate these differences. Policy makers and elected officials may want to consider the differential HOIs for particular minority groups when contemplating policies that would increase home prices or otherwise impact the affordability of housing.”

READ FULL REPORT

 


STORY TAGS: Black News, African American News, Minority News, Civil Rights News, Discrimination, Racism, Racial Equality, Bias, Equality, Afro American News, Hispanic News, Latino News, Mexican News, Minority News, Civil Rights, Discrimination, Racism, Diversity, Latina, Racial Equality, Bias, Equality

Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News