Name of Report: Changes in Minority Homeownership During the 1990s
Organizational Affiliation: Fannie Mae Foundation
Author: Patrick A. Simmons, Director of Housing Demography, Fannie Mae Foundation
Date: September 2001
Contact Information: 4000 Wisconsin Ave., NW, North Tower, Suite One, Washington, DC 20016-2804 Telephone: 202-274-8000
Pages: 16
Content Summary
This report analyzes homeownership trends by race and ethnicity, incorporating new data from the Census Bureau’s Current Population Survey (CPS), which provides reliable data for African Americans, Hispanics, and Whites in the year 2000. The author examines the participation of racial and ethnic minorities in the 1990s homeownership boom. Changes in age structures and their effects on homeownership among Whites and minorities are examined closely. The importance of homeownership as a socioeconomic indicator is discussed. One section of the report provides a detailed and insightful perspective on factors contributing to the homeownership rate gap. Several tables and charts provide information on U.S. homeownership rates by race and ethnicity.
Major Findings
- Homeownership rates increased for all racial/ethnic groups in the 1990s
- The overall homeownership disparity between Whites and minorities increased slightly
- The increase in this disparity is due to changes in the age structures of White and minority populations.
- Minority homeownership growth accelerated significantly during the 1990s.
- Minorities are becoming more crucial to growth in the homeownership market.
- California experienced one of the most striking shifts in the racial/ethnic composition of homeownership growth in the 1990s, with a sharp increase in the minority share of homeownership and a corresponding decrease in White homeownership.
- Recommends improvements in the sustainability and quality of homeownership for minority homebuyers.
Related Issues
This report included a comprehensive discussion of possible causes for the disparities in homeownership rates. A 2004 report by Dawkins provides an updated perspective on this topic and identifies the most salient factors among the causes. Dawkins further recommends a more active role for local and state policy makers in alleviating racial disparities in housing.
Reference List
Dawkins, Casey J. “Recent Evidence on the Continuing Causes of Black-White Residential Segregation.” Journal of Urban Affairs 26.3 (2004): 379-400.
How to Access Report
http://www.knowledgeplex.org/showdoc.html?kpid=2415