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The St Louis Contrarian

Providing Independent and Intelligent Insight on St. Louis Public Policy Issues

Racial Homeownership Rate

The St. Louis Post Dispatch published an interesting article yesterday about the disparity in homeownership between African Americans and whites. The gap in St. Louis is about 29% with white people owning more homes. This gap increased as a result of the 2008 recession.

Nothing in this story is surprising to me. Homeownership rates are a sign of economic well being; unfortunately African Americans are not as solid economically as whites for the same reason there are other gaps. St. Louis saw a bigger disparity arise out of the recession. This is also not surprising because due to racism, segregation, and similar factors African Americans are forced to live a more marginal existence in St. Louis. More inner city neighborhoods, where blacks disproportionately buy are more likely to see a loss of value in a recession, and slower increases in good times.

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