(WETM) – According to a new analysis from Zillow, increases in homeownership and home values among black households could help shrink the racial wealth gap.
Currently, there is a three trillion dollar racial wealth gap.
Homeownership could help shrink the racial wealth gap by half.
Approximately 42% of black households own their homes, compared to 72% percent of white households.
The difference accounts for nearly 40% of the racial wealth gap, with stocks, bonds, and retirement accounts making up the rest.