The Black homeownership rate has been declining and the Black-White homeownership gap in Philadelphia is wider than it was 30 years ago, according to research by the Federal Reserve Bank of Philadelphia. Home values have gone up while Black incomes in the city have gone down, and access to mortgage credit remains a key barrier for Black borrowers. Experts agree: Collaborative solutions are needed.
On March 23, the Federal Reserve Bank of Philadelphia and The Pew Charitable Trusts brought together policymakers, researchers, housing advocates, and practitioners for a virtual discussion on solutions for addressing the Black-White homeownership gap in Philadelphia. Speakers explored current research and examine ways to make homeownership more accessible and equitable for Black Philadelphians.
During this virtual event, two panels focused on:
Barriers to Closing the Black-White Homeownership Gap
- Lei Ding, Senior Community Development Economic Advisor, Federal Reserve Bank of Philadelphia. View presentation.
- Octavia Howell, Manager, The Pew Charitable Trusts’ Philadelphia research and policy initiative. View presentation.
Policy Solutions to Address Racial Disparities in Homeownership
- James Crowder, Senior Associate of Local Policy Advocacy and Reform, Annie E. Casey Foundation
- Cherelle Parker, Councilmember, City of Philadelphia
- Nikil Saval, Senator, First District, Pennsylvania State Senate
- Robin Wiessmann, Executive Director, Pennsylvania State Housing Finance Agency