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President Biden Ups His Budget to Combat Housing Crisis

Pro Builder

President Biden’s new budget aims to provide rental assistance to low-income tenants, increase the total number of affordable housing units, create a smoother path to homeownership, and fight housing discrimination. . Housing Policy + Finance. Housing Policy + Finance. We need to see families that are stably housed,” he says. “We

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Less Than Half of Black Households Were Homeowners in 2021

Pro Builder

Housing discrimination has hit Black buyers the hardest during the COVID-19 pandemic, particularly as a foreclosure crisis disproportionately impacted communities of color. . Ending housing discrimination and helping more Black Americans build wealth through homeownership has been one of the priorities of President Joe Biden‘s administration.

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Can No Down Payment Mortgages Close the Homeownership Gap?

Pro Builder

The initiative aims to close the homeownership gap and rectify decades of housing discrimination against communities of color by making sustained homeownership more attainable for those who qualify. Financing. Census Bureau report. However, the homeownership rate is just 45.3% for Black households, 48.3% for Asian households.

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Eichler Homes: Trademark in Architecture, Neighborhood Integration

Pro Builder

Born to German Jewish immigrants, Eichler was sensitive to the common practices housing discrimination and believed if a buyer was qualified, there was no reason not to sell them a home. Joseph Eichler’s name is synonymous with the stylish, midcentury homes that his development company brought to the suburbs of California.

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Biden's Promised Changes to the Housing Market

Pro Builder

Campaign promise: Address racial discrimination in housing. Housing Policy + Finance. “These are some of his more innovative ideas about combining housing assistance with improving communities," says Goetz. It’s a good thing, [but] I don’t know how much of that is actually going to happen.”. Read More. . Government + Policy.

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Higher Fees, Interest Rates, and Mortgage Rejections for Black, Hispanic Buyers

Pro Builder

Decades of discrimination against people of color have resulted in lower homeownership rates among minorities than among whites in America. Only about 5.5% of whites had their loan applications rejected, compared with 6.8% of Asians, 9.3% of Hispanics, 11.7% of Blacks, and 10.8% of multi-minority race individuals hoping to be approved.

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More Than Half of Buyers Now Put Down 20% or More

Pro Builder

REALTORS® have reported that buyers who make an offer using FHA or VA financing find it hard to compete against other buyers who are offering cash or using conventional financing. "It Buyers using VA Loans are being discriminated due to 'known low appraisals with VA loans' which is not right at all.". "VA Read More. .

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