- ORIGINAL NEWS
More Black women are becoming homeowners — it doesn’t mean it’s easier, economist says
- SUMMARY
Black women are purchasing homes at a higher rate than Black men, with single women representing a significant portion of Black homebuyers.
However, despite this positive trend, Black women still face challenges due to factors such as: * **Education debt:** Black women have higher student loan burdens, which can make it harder to save for down payments and qualify for mortgages.
* **Mortgage access:** In the past, lending standards allowed Black women to access high-cost mortgages that led to foreclosures during the Great Recession.
* **Low-wage jobs:** Black women are often employed in low-paying jobs, making it difficult to afford a down payment, a major hurdle to homeownership.
While these challenges exist, it’s important to note that Black women are also making strides and becoming more resilient homeowners.
- NEWS SENTIMENT CHECK
- Overall sentiment:
neutral
Positive
“Black women are outpacing Black men when it comes homebuying.”
“The share of Black female homebuyers grew at an average annual rate of 7.3% from October 2018 to January 2020”
Negative
“Despite the overall trend of Black women outpacing Black men in homeownership, single Black women face significant challenges such as student loan debt, lack of access to mortgages and low-wage jobs”