Solutions
How Place-Based Special Purpose Credit Programs Can Reduce the Racial Homeownership Gap
February 1, 2022
Special purpose credit programs (SPCPs)—which allow banks to offer credit on favorable terms to borrowers who have suffered economic disadvantage and share common characteristics (e.g., race or income)—could provide the kind of homeownership boost to Black communities today that the New Deal provided to white people in the 20th century.