By Dr. Anthony Kellum
Homeownership is more than just owning a house, it’s a cornerstone of financial stability, wealth generation, and community resilience. Yet for Black Americans, this cornerstone has remained largely out of reach, underscoring a deeper, systemic disparity that affects us all.
Understanding the Numbers (2025):
- Black Homeownership Rate: Approximately 44%, significantly lower compared to around 75% for white households.
- Persistent Gap: Despite over five decades since the Fair Housing Act of 1968, the homeownership gap between Black and white households has widened rather than narrowed.
- Affordability Crisis: Only 1 in 5 Black families can currently afford a median-priced home in America.
- Undervaluation: Black-owned homes frequently face appraisal discrimination, often valued less than comparable properties owned by white homeowners, perpetuating wealth disparities.
As we reflect on these stark realities, one thing becomes clear: This isn’t merely a gap in ownership, it’s a gap in opportunity, in wealth accumulation, and fundamentally, in power.
Why Ownership Matters:
“Renting is surviving. Owning is building.”
Homeownership transforms communities, providing stability, fostering pride, and incentivizing local investment. When more families own homes, communities become stronger, safer, and more vibrant. Ownership encourages participation, reduces displacement, and anchors families to their neighborhoods, creating lasting legacies of prosperity.
The Broader Impact:
Closing the racial homeownership gap is not just a moral imperative, it’s an economic necessity. Studies show that narrowing this gap could generate over $1.7 trillion in additional economic activity. A robust Black middle class powered by property ownership creates broader economic security, benefiting businesses, schools, and the entire fabric of American society.
“When Black families win in housing, America wins economically, socially, and morally.”
How We Move Forward:
To address this disparity, concerted efforts are essential:
- Education and Financial Literacy: Expand accessible education around financial tools, mortgage processes, and wealth management specifically tailored to Black communities.
- Fair and Equitable Lending: Advocate for and enforce equitable lending practices that dismantle discriminatory barriers in mortgages and appraisals.
- Policy Advocacy: Support legislative efforts aimed at providing down payment assistance, credit-building programs, and financial incentives targeting historically underserved communities.
- Community Empowerment: Encourage local investment, mentorship, and community-building initiatives that directly support homeownership.
Property is Power:
The essence of the “Property is Power” movement lies in recognizing property as more than a physical asset, it’s a powerful tool for economic liberation and generational growth. Homeownership grants individuals and family’s autonomy, security, and influence in their communities.
“If you don’t own property, you are property. But when you own, you have power.”
Let’s recommit to bridging the homeownership gap, recognizing that when we uplift one community, we uplift our entire nation.
Property is Power! is a movement to promote home and community ownership. Studies indicate
homeownership leads to higher graduation rates, family wealth, and community involvement