Black History Month & Housing
Black History Month is an opportunity to highlight the achievements and history of African Americans. Washington REALTORS® commemorates this by recognizing the history, culture, contributions, and positive impact of the Black community in housing. We also acknowledge that historical housing and lending practices have had a significant and long-lasting impact on communities of color, especially within Black communities.
Housing segregation in America did not happen by accident. The overt practice of redlining and white flight, or blockbusting, was perpetuated by lenders, the FHA, and REALTOR® associations. Sadly, effects of redlined lending maps from the mid-century still reflect racial segregation and economic disparities even today.
A recent study shows homeownership rates for black and white households between 2020 and 1970:
|
1970 |
2020 |
|
|
Black Homeownership Rate |
42% |
44% |
Source: https://www.warealtor.org/docs/default-source/DEI/nar_ho_gap.pdf?sfvrsn=0 .
This illustrates the missed opportunity for so many people by preventing them from building generational wealth and the denial of community benefits we all deserve.
Washington REALTORS® sees Black History Month as an opportunity to raise awareness through webinars, provide resources and education opportunities. Our goal is to present thoughtful commentary and tools for REALTORS® to better serve everyone in our communities throughout Washington.
For more information and resources about Washington REALTORS® Diversity, Equity and Inclusion, visit: https://www.warealtor.org/resources/member-resources/diversity-equity-inclusion