Black millennials less likely to own a home than their grandparents were at same age

By Pedro Nicolaci Di Costa, Market Watch

The Great Recession delivered a far bigger hit to black Americans’ already meager wealth holdings— depressed by slavery, centuries of discrimination, and deliberately discriminatory housing policies — than it did to whites.

That has left the home ownership gap between blacks and whites at its worst level since the New Deal, according to a new report from the Stanford Center for Poverty and Inequality.

The authors, Darrick Hamilton and Christopher Famighetti, compared household heads aged 20–29 across generations.

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