Share
The Business Wire Subscription
SACRAMENTO — In alignment with Fair Housing priorities set by Gov. Gavin Newsom’s Administration and the California State Legislature, and in recognition of the fact that historical housing discrimination is still having negative effects on the ability of Black Californians to achieve the dream of homeownership, CalHFA is honoring Black History Month by launching its Building Black Wealth initiative.
The purpose of the campaign – which includes elements of education, outreach and connection to housing resources – is to address the significant gap in homeownership between Black families and other races. The Black homeownership rate in California has always been the lowest when compared to other races and has fallen since the Great Recession.
For the past decade, California’s Black homeownership rate has been lower than it was in the 1960s, when it was completely legal to discriminate against Black homebuyers. As of 2019, 41% of Black families owned their homes, while 68% of White families and 66% of Asian and Pacific Islanders were homeowners. Latino families owned homes at a rate of 49%, which is also low. However, 53% of CalHFA’s loans serve the Latino community.
By Business Wire | 9 Feb 2021
RELATED TOPICS:
CA Has Seen Many New Towns, but This Big Project Is Stalled
1 hour ago
Fresno Man Sentenced to 29 Years for Sexually Assaulting Children and Dog
13 hours ago
Bulldogs’ Two-Position Standout Tommy Hopfe Signs With Rockies
13 hours ago
Former Bulldog QB Jake Haener: I Have a ‘Rare Form of Skin Cancer’
14 hours ago
The Many Names of GOP Vice Presidential Nominee JD Vance
14 hours ago
Jack Black, a Small Dog With a Big Heart, Is Looking for His Forever Home