![Keys Unlock Dreams Initiative 2023 Impact Statement](/assets/images/placeholders/general/missing-post-thumb.png)
Keys Unlock Dreams Initiative 2023 Impact Statement
The Keys Unlock Dreams Initiative (KUDI) was launched in 2019 to address the precipitous decline in homeownership for Black people as well as systemic challenges faced by Black, Latino, and...
Even with more Americans tackling systemic racism, including the Biden administration making racial equity a priority, the homeownership gap between Black and white Americans continues to grow, widening the racial wealth gap and other economic disparities. At all income levels, white households have a higher overall homeownership rate than Black households, and similar disparities exist when accounting for education. Black households that have a bachelor’s degree or an advanced degree are less likely to own their own home than a white household that lacks a high school diploma. Structural barriers may limit the benefits of education for Black graduates, who bear higher debt burdens, which may also affect homeownership. Even though overtly racist lending practices have been made illegal, their legacies persist in housing, contributing to a growing modern-day disparity.
Read more at The Urban Institute.