Understanding and Addressing Racial and Ethnic Disparities In Housing

It is difficult to overstate the importance of stable, affordable housing to personal and family welfare. That is why the racial and ethnic disparities that exist in housing should concern everyone: These gaps reinforce and perpetuate existing inequities and tear at America’s social fabric.

Housing is a basic necessity. Like food and clothing, the shelter that a home provides is a basic necessity of life. With the security and privacy it offers, a home is also the platform from which a household engages the broader community. It is the place where families raise children and build lives together. The coronavirus pandemic only further elevated the importance of a home, which became a place to work and learn for so many families.

Stable, affordable housing is crucial for well-being and economic opportunities. Living in a stable home improves employment, health, and educational outcomes.² Stable housing is also particularly important for early childhood development. Research indicates that toxic stress triggered by housing instability for children ages 0-3 can have devastating lifelong effects, leading to learning, behavioral, and mental health problems.³ Children with safe, stable housing perform better in school, and are less likely to face family separations, domestic violence, and psychological distress.⁴ Affordable housing can also “vaccinate” families against negative health outcomes by providing stability and allowing scarce household resources to be used to pay for food, health care, and other essentials.⁵ In fact, housing safety, stability, quality, and affordability are all deeply connected to health, with unmet housing needs having a direct and deleterious impact.⁶ hese needs and their connection to health take many different forms. For example:

• Those experiencing homelessness are more likely to experience severe and frequent mental and physical illness. Chronic illness is also itself a risk factor for homelessness.
• Hazards within the home environment, such as lead paint and asthma triggers, can cause or exacerbate health conditions.
• High housing costs are not only stressful, they can also force families to make difficult trade-offs between buying necessities like food and medicine and paying their rent, resulting in suboptimal health outcomes. In addition, what a household can afford often dictates where they can live. High housing costs can limit low-income families to communities with high crime or disproportionate environmental burdens, leading to poor health and premature mortality.

Stable housing alone is not enough—families deserve to live in thriving communities. Where a home is located matters. Living in a community with access to employment opportunities, good schools, nutritious food, transportation options, and health care providers can have a tremendously positive impact on a family and help serve as a springboard for upward economic mobility.

There are persistent gaps in income and wealth across racial and ethnic groups in the U.S.—particularly between Black and white households. While income is unequal, wealth is even more unequal—an important distinction given the opportunities and choices that accumulated wealth can provide families in the present and the future. Black and white children tend to follow the wealth position of their parents, reproducing inequality across generations.⁷ In fact, data shows that little to no progress has been made in reducing income and wealth inequalities between Black and white households over the past 70 years—and that close to half of all American households have less wealth today in real terms than the median household
had in 1970.⁸ As such, it is critical that policymakers understand the role that housing plays in driving and addressing such persistent disparities.

Patterns of poverty and racial residential segregation persist. In the nation’s 100 largest cities, the average white resident lives in a neighborhood that is 71% white, while the average Black resident lives in a neighborhood that is only 31% white, and the average Hispanic resident lives in a neighborhood that is only 32% white.⁶¹ Outside of metropolitan areas, the average white resident lives in a neighborhood that is 85% white.⁶² Some areas have particularly stark divides; for example, although Detroit is 80% Black, the neighboring suburb of Grosse Point is 90% white.⁶³ One recent study found that 80% of large metropolitan areas were more segregated (or separated by race in terms of residence) in 2019 than they were in 1990.⁶⁴ Overall, Black-white residential segregation remains high, but has slowly declined from its peak around the 1960s and 1970s; while segregation between Hispanics and Asians from whites is less intense, it has changed very little.⁶⁵ According to one projection, at the current rate that segregation is declining, Black-white segregation will fall to the levels experienced by other racial and ethnic groups in the year 2050.⁶⁶

Predominantly white communities are wealthier, on average, than neighborhoods in which Blacks, Hispanics, and Native Americans tend to live, and white neighborhoods receive far more investment.⁶⁷ For example, one Urban Institute study found that majority-white neighborhoods received nearly three times as much public and private investment as majority-Black neighborhoods.⁶⁸ The separation of communities by race limits the wealth appreciation of non-white families because many white families are less willing to buy homes in communities of color, limiting demand and constraining property values.⁶⁹

Concentrated racial poverty is also not limited to metropolitan areas. Nearly 60% of the 21 million people living in “persistent poverty” counties—defined as having poverty rates of 20% or more in 1990, 2000, and 2010—are from racial and ethnic minority groups.⁷⁰ These communities are often geographically isolated and rural; have experienced high economic distress and disinvestment; are more likely to have households with substandard housing; and are growing more diverse.⁷¹ Depending on the data sources used, 360-500 counties are persistent poverty counties out of 3,143 counties, or county-equivalent jurisdictions nationwide.⁷²

Concentrated racial poverty has created communities with diminished economic prospects for residents. Today, the ZIP code an individual is born onto—with its school quality, job opportunities, and level of safety—is often an accurate predictor of lifetime outcomes related to education, income, and health. Public schools are about as segregated today as they were in 1980, concentrating students of color in high-poverty schools that tend to be less effective than low- poverty schools, perpetuating the racial achievement gap in education.⁷³

Patterns of concentrated poverty and racial residential segregation have been shaped and sustained by a long history of racist government policies. Throughout American history, hundreds of laws and policies have denied land, housing, access to credit, and economic opportunities to individuals because of their race or ethnicity—from the Homestead Acts to the G.I. bill to the Housing Acts of 1934 and 1949.⁷⁴ Whites also used racially restrictive covenants and violence to exclude Blacks from white communities and neighborhoods—with a persistent effect on present-day house prices and racial residential segregation.⁷⁵

One of the most harmful policies was the practice of redlining. After the Great Depression, the federal government created the now defunct Home Owners’ Loan Corporation, which drew maps for over 200 cities, documenting the relative “riskiness” of lending across neighborhoods and used in refinancing loans for borrowers nearing foreclosure. Areas historically graded with less favorable mortgage lending risk grades today have a higher percentage of people of color, including Asian, Black, and Hispanic households; lower household incomes; and a higher share of overcrowded households.⁷⁶

The Federal Housing Administration, which continues to provide federally backed mortgage insurance, similarly created a set of maps that rated Black communities as risky, and explicitly emphasized “undesirable racial or nationality groups” in its underwriting standards. FHA refused to insure mortgages in mostly Black, urban neighborhoods while subsidizing white homebuyers, exclusively helping these households access homeownership and build wealth, until redlining and other discriminatory practices were curtailed by federal civil rights legislation.⁷⁷

While government actions helped to perpetuate segregation and concentrate poverty, some argue that segregation would likely have arisen, independent of government action, as a direct consequence of the widespread and decentralized actions of white households.⁷⁸ For example, one study found that “white flight,” the departure of white families as Black families arrive in neighborhoods, can explain 34% of the increase in segregation over the 1910s and 50% over the 1920s.⁷⁹

More recent research has explored the degree to which zoning and land use decisions now sustain patterns of segregation. For example, one study shows that the greater the allowable density (i.e., openness to home construction), the lower the level of racial segregation.⁸⁰ Local communities, directly and indirectly, restrict housing development in many ways; for example, by requiring minimum parking lot sizes, imposing building height limits, and having lengthy permitting or environmental review processes. While these regulatory barriers may be implemented with the intention of advancing important policy goals, in the aggregate, they have costly and wide-reaching economic and social impacts:

• They contribute to a too-limited supply of affordable homes, which pushes up rents for low-income families. One study from the Cato Institute found that increased land use and zoning regulation was associated with rising average home prices in 44 states.⁸¹
• They restrict the supply of housing in the most dynamic labor markets, limiting mobility to America’s most productive economic centers, impeding economic growth and contributing to rising inequality.⁸²
• They help wealthier Americans, either intentionally or unintentionally, “protect” the value of their homes by preventing new development and pricing out—usually Black—low-income families.⁸³

While researchers continue to explore how various factors—differences in buying power, white prejudices, Black preferences, discrimination in housing and lending, and government policies—cause and affect segregation, it is well- documented that this segregation continues and contributes to poverty, adverse educational outcomes, and reduced intergenerational mobility.8⁸⁴ Mark Zandi and economists at Moody’s Analytics found that if communities across the country were to more fully integrate racially so that they were comparable to the nation’s most integrated communities, the nation’s real GDP growth over the next decade would increase from 2.4% to 2.7% per annum.⁸⁵

Poverty is pervasive in tribal communities. About one in three Native Americans live in poverty today, with a median income of $23,000.⁸⁶ According to the National Congress of American Indians, 40% of housing on reservations is substandard (compared with 6% in the rest of the country), with less than half of homes connected to public sewer systems.⁸⁷ Native Americans are more likely to lack clean drinking water than any other racial group.⁸⁸ Tribal lands in the U.S. are also often credit deserts, with a shortage of willing lenders offering capital for property held by trusts, making it difficult for residents of tribal lands to build wealth through homeownership.⁸⁹

The pandemic has widened racial disparities in income, housing, and health. Black and Hispanic Americans were hit hardest by the pandemic, as they are more likely to work in frontline, low-wage jobs that could not be done remotely during government-enforced stay-at-home orders and social distancing guidelines. As a result, more Black and Hispanic workers lost employment income during the pandemic.⁹⁰ Blacks, Hispanics, and Native Americans were also much more likely to be infected and suffer fatalities from the virus for a variety of reasons, including less access to health care, chronic health issues that increased vulnerability to the virus, as well as living and work conditions that make it more difficult to socially distance. According to a report from the Terner Center, Black Americans who applied for unemployment benefits were less likely to receive them than white Americans, and unemployment checks for Black workers were lower than those of white workers with similar salaries.⁹¹

Because Black and Hispanic families on average have less savings and greater rent burdens, they are often less able to manage losses in income. Many more white families were able to use savings to cover health costs and living costs after job loss than Black families during the pandemic.⁹² Twenty-nine percent of Black renters and 25% of Hispanic renters fell behind on rent during the first nine months of the pandemic, compared with only 12% of white renters.⁹³ The overall personal savings rate in the U.S. spiked during the pandemic, as many families received assistance such as stimulus checks and were unable to spend as much.⁹⁴ However, many low-income Black families without such savings likely relied on stimulus funds to cover financial hardships related to the pandemic as opposed to increasing personal saving.

With the end of the federal moratorium on evictions, many renters behind on rent now face the threat of eviction. As of August 2021, nearly 430,000 Black renters were very likely to be evicted within two months according to Census Survey data, more than the total number of white renters very likely to be evicted.⁹⁵ Congress has approved $46.6 billion in emergency rental assistance to prevent a wave of evictions, though local authorities have been slow to distribute the aid. While the U.S. has not experienced a nationwide spike in eviction filings since the end of the eviction moratorium last month, housing advocates warn that it is still too soon to know whether a wave of evictions will occur—an increase in evictions could be gradual rather than sudden⁹⁶

The challenges we face in housing today—a severe shortage of affordable rental homes; unsustainably high rent burdens; homelessness; high barriers to first- time homeownership—affect Americans of all racial and ethnic backgrounds. However, as this paper has demonstrated, these problems disproportionately impact people of color, particularly Black, Hispanic, and Indigenous households. Reducing these disparities and improving the housing situations of Americans of all backgrounds should be a national priority. This objective was affirmed in a recent BPC/Morning Consult poll, which showed that 87% of Americans, including most Democrats and Republicans, believe that every child and family should have a safe, decent, and affordable home.⁹⁹

Too many people of color also live in communities that do not provide sufficient economic opportunities, safety, or access to health care. Housing policy should aim to both deconcentrate poverty and revitalize and invest in communities with persistently high poverty rates. This objective is also widely shared: In the same BPC/Morning Consult poll, 84% of Americans agreed that ZIP codes, or where we live, should not determine success in life.¹⁰⁰

Housing policy can play a powerful role in improving the well-being and economic status of millions of disadvantaged Americans, and thereby strengthen the social fabric of our country. Acknowledging the significant disparities in housing that exist across racial and ethnic groups—some the legacy of past government-sanctioned discrimination—is an essential first step in devising new, bold, and innovative solutions.

^{1 A. Shertzer, T. Twinam, and R. Walsh, “Race, Ethnicity, and Discriminatory Zoning,” October 2014. Available at: https://www.nber.org/papers/w20108. Jessica Trounstine, “The Geography of Inequality: How Land Use Regulation Produces Segregation,” February 2020. Available at: https://www.cambridge.org/core/journals/american- political-science-review/article/abs/geography-of-inequality-how-land-use-regulation- produces-segregation/BAB4ABDF014670550615CE670FF66016. D. Cutler, E. Glaeser, et al., “The Rise and Decline of the American Ghetto,” June 1999. Available at: https://www.jstor.org/stable/10.1086/250069. D. Aaronson, D. Hartley, et al., “The Effects of the 1930s HOLC ‘Redlining’ Maps,” August 2020. Available at: https://www.chicagofed.org/ publications/working-papers/2017/wp2017-12.
2 U.S. Interagency Council on Homelessness, “The Importance of Housing Affordability and Stability for Preventing and Ending Homelessness,” May 2019. Available at https://www.usich.gov/resources/uploads/asset_library/HousingAffordability-and-Stablility- Brief.pdf
3 Urban Institute, “Reduce Poverty by Improving Housing Stability,” June 2016. Available at https://www.urban.org/urban-wire/reduce-poverty-improving-housing-stability.
4 U.S. Interagency Council on Homelessness, May 2019.
5 Enterprise Community Partners, “Impact of Affordable Housing on Families and Communities: A Review of the Evidence Base,” 2014. Available at https://homeforallsmc. org/wp-content/uploads/2017/05/Impact-of-Affordable-Housing-on-Families-and- Communities.pdf.
6 For more information on the relationship between housing and health outcomes, see: Bipartisan Policy Center, “HUD-HHS Partnerships: A Prescription for Better Health,” June 2018. Available at: https://bipartisanpolicy.org/report/hud-hhs-partnerships-a-prescription-for-better-health/; Bipartisan Policy Center, “Building the Case: Low-Income Housing Tax Credits and Health,” November 2017. Available at: https:// bipartisanpolicy.org/report/building-the-case-low-income-housing-tax-credits-and- health/; Bipartisan Policy Center, “Healthy Aging Begins at Home,” May 2016. Available at: https://bipartisanpolicy.org/report/recommendations-for-healthy-aging/.
7 F. Pfeffer and A. Killewald, “Intergenerational Wealth Mobility and Racial Inequality,” March 2019. Available at: https://journals.sagepub.com/doi/10.1177/2378023119831799#bibr5-2378023119831799.
8 M. Kuhn, M. Schularick, et al., “Income and Wealth Inequality in America, 1949-2016,” June 2018. Available at: https://www.minneapolisfed.org/research/institute-working- papers/income-and-wealth-inequality-in-america-1949-2016.
9 Federal Reserve Bank of St. Louis, “Examining U.S. Economic Racial Inequality by State,” August 2020. Available at https://www.stlouisfed.org/publications/bridges/ volume-3-2020/examining-us-economic-racial-inequality-by-state.
10 Board of Governors of the Federal Reserve System, “Disparities in Wealth by Race and Ethnicity in the 2019 Survey of Consumer Finances, Accessible Data,” September 2020. Available at https://www.federalreserve.gov/econres/notes/feds-notes/disparities-in-wealth-by-race-and-ethnicity-in-the-2019-survey-of-consumer-finances- accessible-20200928.htm#fig1.
11 S. Winship, C. Pulliam, et al., “Long Shadows: The Black-White Gap in Multigenerational Poverty,” American Enterprise Institute, June 2021. Available at https://www.aei.org/research-products/report/long-shadows-the-black-white-gapin- multigenerational-poverty/.
12 T/ Shapiro, J. Santos, et al., Institute on Assets and Social Policy at Brandeis University, “The Black-White Racial Wealth Gap,” 2019. Available at https://tminstituteldf.org/wpcontent/uploads/2019/11/FINAL-RWG-Brief-v1.pdf.
13 S. Dewees and G. Mottola, “Race and Financial Capability in America: Understandingthe Native American Experience,” April 2017. Available at: https://www.issuelab.org/resources/33337/33337.pdf.
14 Annie Lowrey, “Wealth Gap Among Races Has Widened Since Recession,” April 2013. Available at https://www.nytimes.com/2013/04/29/business/racial-wealth-gapwidened-during-recession.html.
15 S. Dewees and G. Mottola, “Race and Financial Capability in America: Understanding the Native American Experience,” April 2017. Available at: https://www.issuelab.org/resources/33337/33337.pdf.
16 J. Faber, “Racial Dynamics of Subprime Mortgage Lending at the Peak,” 23(2): 328-349, 2013. Available at https://www.tandfonline.com/doi/full/10.1080/10511482.2013.771788.
17 Urban Institute, “Reducing the Racial Homeownership Gap.” Available at https://www.urban.org/policy-centers/housing-finance-policy-center/projects/reducing-racialhomeownership-gap.
18 M. Neal and A. McCargo, Urban Institute, “How Economic Crises and Sudden Disasters Increase Racial Disparities in Homeownership,” June 2020. Available at https://www.urban.org/sites/default/files/publication/102320/how-economic-crises-and-sudden-disasters-increase-racial-disparities-in-homeownership.pdf.
19 Odeta Kushi, First American, “Homeownership Remains Strongly Linked to WealthBuilding,” November 2020. Available at https://blog.firstam.com/economics/homeownership-remains-strongly-linked-to-wealth-building.
20 Ibid.
21 Ibid.
22 Treh Manhertz, Zillow, “Home Value Disparities Between Races Are Shrinking, but Remain Very Wide,” December 2020. Available at: https://www.zillow.com/research/home-values-by-race-2020-28478/.
23 A. Perry, J. Rothwell, et al., “The Devaluation of Assets in Black Neighborhoods: The Case of Residential Property,” November 2018. Available at: https://www.brookings.edu/research/devaluation-of-assets-in-black-neighborhoods/.
24 Ibid.
25 Freddie Mac, “Racial and Ethnic Valuation Gaps In Home Purchase Appraisals,” September 2021. Available at http://www.freddiemac.com/research/insight/20210920_ home_appraisals.page.
26 M. Aronowitz, E. Golding, et al., “The Unequal Costs of Black Homeownership,” October 2020. Available at: https://gcfp.mit.edu/wp-content/uploads/2020/10/Mortgage-Cost- for-Black-Homeowners-10.1.pdf. Though the market has changed dramatically since it was released, a similar study found that 21% of Black borrowers and 19% of Hispanic borrowers with high credit scores ended up with higher-rate mortgages, compared to only 6% of white borrowers with similar credit scores: A. Austin, Economic Policy Institute, “A Good Credit Score Did Not Protect Latino and Black Borrowers,” January 2012. Available at https://www.epi.org/publication/latino-black-borrowers-high-rate- subprime-mortgages/.
27 D. Feir and L. Cattaneo, Federal Reserve Bank of Minneapolis, “The Higher Price of Mortgage Financing for Native Americans,” September 2019. Available at: https://www. minneapolisfed.org/research/cicd-working-paper-series/201906-thehigher-price-of- mortgage-financing-for-native-americans.
28 Ibid.
29 Ibid.
30 D. Peterson and C. Mann, “Closing the Racial Inequality Gaps: The Economic Cost of Black Inequality in the U.S.,” September 2020. Available at: https://www.citivelocity. com/citigps/closing-the-racial-inequality-gaps/.
31 McKinsey & Company, “The Economic Impact of Closing the Racial Wealth Gap,” August 2019. Available at: https://www.mckinsey.com/~/media/mckinsey/industries/public%20and%20social%20sector/our%20insights/the%20economic%20impact%20of%20closing%20the%20racial%20wealth%20gap/the-economic-impact-of-closing- the-racial-wealth-gap-final.pdf.
32 Buckman, L. Choi, et al., “The Economic Gains from Equity,” September 2021. Available at: https://www.brookings.edu/bpea-articles/the-economic-gains-from- equity/.
33 Urban Institute, “Reducing the Racial Homeownership Gap.”
34 J. Becker, S. Stolberg and S. Labaton, “Bush drive for home ownership fueled housing bubble,” New York Times, December 21, 2008. Available at: https://www.nytimes. com/2008/12/21/business/worldbusiness/21iht-admin.4.18853088.html.
35 Michael Stegman, “Reducing the Racial Wealth Gap by Expanding Down Payment Assistance,” December 2020. Available at https://www.housingwire.com/articles/ reducing-the-racial-wealth-gap-by-expanding-down-payment-assistance/.
36 Consumer Financial Protection Bureau, “Data Point: Credit Invisibles,” May 2015. Available at: https://files.consumerfinance.gov/f/201505_cfpb_data-point-credit- invisibles.pdf.
37 Nicole Bachaud, Zillow, “Expanding Access to Credit Could Shrink the Homeownership Race Gap,” March 2021. Available at: https://www.zillow.com/research/credit-access- homeownership-29074/.
38 M. Turner and P. Walker, “Potential Impacts of Credit Reporting Public Housing Rental Payment Data,” October 2019. Available at: https://www.huduser.gov/portal/sites/ default/files/pdf/Potential-Impacts-of-Credit-Reporting.pdf.
39 Mike Loftin, Urban Institute, “Homeownership Is Affordable Housing,” May 2021. Available at https://www.urban.org/sites/default/files/publication/104214/ homeownership-is-affordable-housing.pdf.
40 U.S. Department of Housing and Urban Development, “Housing Discrimination Against Racial and Ethnic Minorities 2012,” June 2013. Available at: https://www.huduser.gov/ portal/publications/pdf/hud-514_hds2012.pdf; P. Christensen and C. Timmins, “Sorting or Steering: The Effects of Housing Discrimination on Neighborhood Choice,” June 2021. Available at: https://www.nber.org/papers/w24826; U.S. Department of Housing and Urban Development, “Discrimination in Metropolitan Housing Markets: Phase 2 – Asians and Pacific Islanders,” March 2005. Available at: https://www.huduser.gov/ portal/publications/hsgfin/hds_phase2.html; D. Levy and C. Aranda, Urban Institute, “More Than 50 Years after the Fair Housing Act, More Action Is Needed to Address Housing Discrimination against Asian Americans and Pacific Islanders,” April 2021. Available at: https://www.urban.org/urban-wire/more-50-years-after-fair-housing- act-more-action-needed-address-housing-discrimination-against-asian-americans- and-pacific-islanders; National Coalition of Asian Pacific American Community Development and the University of California, Los Angeles, “Crisis to Impact: Reflecting on a Decade of Housing Counseling Services in Asian American and Pacific Islander Communities,” December 2020. Available at: https://www.nationalcapacd.org/wp- content/uploads/2021/03/NationalCAPACD_HousingCounselingReport_final_031221.pdf.
41 Ibid.
42 Ibid.
43 I bid.
44 L. Goodman, B. Bai, et al., “Real Denial Rates: A Better Way to Look at Who Is Receiving Mortgage Credit,” July 2018. Available at: https://www.urban.org/sites/default/files/ publication/98823/real_denial_rates_2.pdf.
45 L. Zhu, J. Zhu, et al, “Asian Americans Face Systemic Higher Mortgage Denial Rates Despite Having Stronger Credit Profiles,” November 2021. Available at: https://www. urban.org/urban-wire/asian-americans-face-systemic-higher-mortgage-denial-rates- despite-having-stronger-credit-profiles.
46 Dan Immergluck, “Racial Justice and the Mortgage Market: Recommendations to the Biden Administration Regarding the Future of the GSEs,” Georgia State University, May 2021. Available at https://scholarworks.gsu.edu/cgi/viewcontent. cgi?article=1054&context=urban_studies_institute.
47 National Low Income Housing Coalition, “The Gap: A Shortage of Affordable Homes,” March 2021. Available at https://reports.nlihc.org/sites/default/files/gap/Gap- Report_2021.pdf.
48 Harvard Joint Center for Housing Studies, “The Continuing Decline of Low-Cost Rentals,” May 2020. Available at https://www.jchs.harvard.edu/blog/the-continuing- decline-of-low-cost-rentals.
49 Harvard Joint Center for Housing Studies, “America’s Rental Housing 2020,” 2020. Available at: https://www.jchs.harvard.edu/americas-rental-housing-2020.
50 Center on Budget and Policy Priorities, “Rents Have Risen More Than Incomes in Nearly Every State Since 2001,” December 2019. Available at https://www.cbpp.org/blog/rents- have-risen-more-than-incomes-in-nearly-every-state-since-2001.
51 National Low Income Housing Coalition, March 2021.
52 Harvard Joint Center for Housing Studies, 2020.
53 National Low Income Housing Coalition, March 2021.
54 Harvard Joint Center for Housing Studies, “The State of the Nation’s Housing 2021,” 2021. Available at https://www.jchs.harvard.edu/sites/default/files/reports/files/ Harvard_JCHS_State_Nations_Housing_2021.pdf.
55 Employee Benefit Research institute, “Statement on Gaps in Retirement Savings Based on Race, Ethnicity, and Gender,” June 2021. Available at https://www.ebri.org/docs/ default-source/testimony/t-185.pdf?sfvrsn=fa363b2f_6.
56 A. Perry, M. Steinbaum et al., Brookings Institution, “Student Loans, The Racial Wealth Divide, and Why We Need Full Student Debt Cancellation,” June 2021. Available at https://www.brookings.edu/research/student-loans-the-racial-wealth-divide-and-why- we-need-full-student-debt-cancellation/.
57 P. Hepburn, R. Louis, et al., “Racial and Gender Disparities among Evicted Americans,” December 2020. Available at: https://sociologicalscience.com/download/vol-7/ december/SocSci_v7_649to662.pdf.
58 U.S. Census Bureau, “Older People Projected to Outnumber Children for First Time in U.S. History,” March 2018. Available at https://www.census.gov/newsroom/press- releases/2018/cb18-41-population-projections.html.
59 U.S. Department of Housing and Urban Development, “The 2020 Annual Homeless Assessment Report (AHAR) to Congress,” January 2021. Available at https://www. huduser.gov/portal/sites/default/files/pdf/2020-AHAR-Part-1.pdf.
60 Bipartisan Policy Center, Three Facts on Homelessness in Early Childhood and Next Steps to Address It, September 2021. Available at: https://bipartisanpolicy.org/explainer/ childhood-homelessness/.
61 Brookings Institution, “Neighborhood Segregation Persists for Black, Latino or Hispanic, and Asian Americans,” April 2021. Available at https://www.brookings.edu/ research/neighborhood-segregation-persists-for-black-latino-or-hispanic-and-asian- americans/.
62 Ibid.
63 Alana Semuels, “The U.S. Is Increasingly Diverse, So Why Is Segregation Getting Worse?” TIME, June 2021. Available at https://time.com/6074243/segregation-america- increasing/.
64 Othering & Belonging Institute, “The Roots of Structural Racism Project: Twenty-First Century Racial Residential Segregation in the United States,” June 2021. Available at https://belonging.berkeley.edu/roots-structural-racism.
65 J. Logan and B. Stults, “Metropolitan Segregation: No Breakthrough in Sight” August 2021. Available at: https://s4.ad.brown.edu/Projects/Diversity/Data/Report/ report08122021.pdf.
66 Ibid.
67 Urban Institute, Letter to Department of Housing and Urban Development, March 2020. Available at https://www.urban.org/sites/default/files/publication/101823/hud_ignores_evidence_on_discrimination_segregation_and_concentrated20poverty_ in_fair_housing_proposal_0.pdf.
68 Urban Institute, “Neighborhood Disparities in Investment Flows in Chicago,” May 2019. Available at https://www.urban.org/sites/default/files/publication/100261/ neighborhood_disparities_in_investment_flows_in_chicago_1.pdf.
69 K. Quick and R. Kahlenberg, “Attacking the Black–White Opportunity Gap That Comes from Residential Segregation,” June 2019. Available at https://tcf. org/content/report/attacking-black-white-opportunity-gap-comes-residential- segregation/?session=1&agreed=1.
70 Housing Assistance Council, “Persistent Poverty.” Available at: https://ruralhome.org/ our-initiatives/persistent-poverty/.
71 Housing Assistance Council, “The United States Is Becoming More Racially Diverse— And So Is Rural America,” September 2021. Available at: https://ruralhome.org/united- states-becoming-more-racially-diverse-so-is-rural-america/.
72 Congressional Research Service, “The 10-20-30 Provision: Defining Persistent Poverty Counties,” February 2021. Available at: https://sgp.fas.org/crs/misc/R45100.pdf.
73 Stanford Center for Education Policy Analysis, “Is Separate Still Unequal? New Evidence on School Segregation and Racial Academic Achievement Gaps,” September 2019. Available at https://cepa.stanford.edu/content/separate-still-unequal-new-evidence- school-segregation-and-racial-academic-achievement-gaps.
74 National Fair Housing Alliance, “Testimony of Lisa Rice Before the Senate Committee on Banking, Housing, and Urban Affairs,” April 2021. Available at https://www.banking. senate.gov/imo/media/doc/Rice%20Testimony%204-13-21.pdf; S. Turner and J. Bound, “Closing the Gap or Widening the Divide: The Effects of the G.I. Bill and World War II on the Educational Outcomes of Black Americans,” July 2002. Available at: https://www.nber.org/papers/w9044; A. von Hoffman, “A Study in Contradictions: The Origins and Legacy of the Housing Act of 1949,” 2000. Available at: https://www.innovations. harvard.edu/sites/default/files/hpd_1102_hoffman.pdf; M. Negret and C. Mandeville, “Housing Segregation Is a Choice,” August 2020. Available at: https://rpa.org/latest/lab/ housing-segregation-is-a-choice.
75 Sood, W. Speagle, et al., “Long Shadow of Racial Discrimination: Evidence from Housing Covenants of Minneapolis,” July 2021. Available at: https://experts.umn. edu/en/publications/long-shadow-of-racial-discrimination-evidence-from-housing- covena; L. Platt Boustan, “Racial Residential Segregation in American Cities,” May 2013. Available at: https://www.nber.org/papers/w19045; Equal Justice Initiative, “Segregation in America,” 2018. Available at: https://segregationinamerica.eji.org/report. pdf; Ta-Nehisi Coates, “The Case for Reparations,” June 2014. Available at: https://www. theatlantic.com/magazine/archive/2014/06/the-case-for-reparations/361631/.
76 M. Negret and C. Mandeville, “Housing Segregation Is a Choice.”
77 P. Fishback, J. LaVoice, et al., “The HOLC Maps: How Race and Poverty Influenced Real Estate Professionals’ Evaluation of Lending Risk in the 1930s,” November 2020. Available at: https://www.nber.org/papers/w28146; D. Aaronson, D. Hartley, et al, “The Effects of the 1930s HOLC ‘Redlining’ Maps,” P. Fishback, J. Rose, et al., “New Evidence on Redlining by Federal Housing Programs in the 1930s,” September 2021. Available at: https://www.nber.org/papers/w29244.
78 A. Shertzer and R.P. Walsh, “The Origins of Urban Segregation in the United States,” March 2018. Available at: https://www.nber.org/reporter/2018number1/origins-urban- segregation-united-states#1; L. Platt Boustan, “Racial Residential Segregation in American Cities.”
79 A. Shertzer and R.P. Walsh, “Racial Sorting and the Emergence of Segregation in American Cities,” June 2018. Available at: https://www.nber.org/papers/w22077.
80 J. Rothwell and D. Massey, “The Effect of Density Zoning on Racial Segregation in U.S. Urban Areas,” April 2009. Available at: https://journals.sagepub.com/ doi/10.1177/1078087409334163.
81 Vanessa Calder, Cato Institute, “Zoning, Land‐Use Planning, and Housing Affordability,” October 2017. Available at https://www.cato.org/policy-analysis/zoning-land-use- planning-housing-affordability.
82 Jason Furman, “Barriers to Shared Growth: The Case of Land Use Regulation and Economic Rents,” November 2015. Available at: https://obamawhitehouse.archives.gov/sites/default/files/page/files/20151120_barriers_shared_growth_land_use_regulation_ and_economic_rents.pdf.
83W. Fischel, “An Economic History of Zoning and a Cure for Its Exclusionary Effects,” November 2003. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_ id=461140.
84 Elizabeth Oltmans Ananat, “The Wrong Side(s) of the Tracks Estimating the Causal Effects of Racial Segregation on City Outcomes,” August 2007. Available at: https:// www.nber.org/papers/w13343; D. Card and J. Rothstein, “Racial Segregation and the Black-White Test Score Gap,” March 2006. Available at: https://www.nber.org/ papers/w12078; R. Chetty, N. Hendren, et al., “Where Is the Land of Opportunity? The Geography of Intergenerational Mobility in the United States,” September 2014. Available at: https://academic.oup.com/qje/article/129/4/1553/1853754.
85 M. Zandi, D. DeAntonio, et al., “The Macroeconomic Benefits of Racial Integration,” October 2021. Available at: https://www.moodysanalytics.com/-/media/article/2021/ macro-consequences-of-racial-integration.pdf.
86 Northwestern University Institute for Policy Research, “What Drives Native American Poverty?” February 2020. Available at https://www.ipr.northwestern.edu/news/2020/ redbird-what-drives-native-american-poverty.html.
87 Dustin Baird, Enterprise Community Partners, “Historical Policies That ShapedHousing in Native America,” May 2021. Available at https://www.enterprisecommunity.org/blog/historical-policies-shaped-housing-native-america.
88 DigDeep, “Close the Water Gap,” November 2019. Available at https://www.digdeep.org/ close-the-water-gap.
89 Ben Eisen, The Wall Street Journal, “Scarce Credit Hinders Homeownership on Tribal Land,” August 2021. Available at https://www.wsj.com/articles/scarce-credit-hinders- homeownership-on-tribal-land-11630245601.
90 Steven Brown, Urban Institute, “How COVID-19 Is Affecting Black and Latino Families’ Employment and Financial Well-Being,” May 2020. Available at https://www.urban. org/urban-wire/how-covid-19-affecting-black-and-latino-families-employment-and- financial-well-being.
91 Carolina Reid, Terner Center for Housing Innovation, “Crisis, Response, and Recovery: The Federal Government and the Black/ White Homeownership Gap,” March 2021. Available at https://ternercenter.berkeley.edu/wp-content/uploads/2021/03/Crisis- Response-Recovery-March-2021-Final.pdf.
92 C. Weller and R. Figueroa, Center for American Progress, “Wealth Matters: The Black- White Wealth Gap Before and During the Pandemic,” July 2021. Available at https://www.americanprogress.org/issues/race/reports/2021/07/28/501552/wealth-matters- black-white-wealth-gap-pandemic/.
93 Harvard Joint Center for Housing Studies, “Interactive Tool Illustrates the Disparate Economic Impacts of the Pandemic,” February 2021. Available at https://www.jchs. harvard.edu/blog/interactive-tool-illustrates-disparate-economic-impacts-pandemic.
94 The Federal Reserve Bank of St. Louis, “Personal Savings During the Pandemic,” August 2021. Available at https://fredblog.stlouisfed.org/2021/08/personal-savings-during-the- pandemic/.
95 U.S. Census Bureau, “Week 35 Household Pulse Survey: August 4 – August 16,” August 2021. Available at https://www.census.gov/data/tables/2021/demo/hhp/hhp35.html.
96 Rachel Siegel and Jonathan O’Connell, “The Feared Eviction ‘Tsunami’ Has Not Yet Happened. Experts Are Conflicted on Why,” The Washington Post, September 2021. Available at https://www.washingtonpost.com/business/2021/09/28/eviction-cliff- moratorium-rental-assistance/.
97 K. Gerardi, L. Lambie-Hanson, et al., “Racial Differences in Mortgage Refinancing, Distress, and Housing Wealth Accumulation during COVID-19,” June 2021. Available at: https://www.bostonfed.org/publications/current-policy-perspectives/2021/racial- differences-in-mortgage-refinancing-distress-and-housing-wealth-accumulation- during-covid-19.aspx.
98 W. Larson, M. Davis et al., “A Quarter Century of Mortgage Risk,” May 2021. Available at: https://www.fhfa.gov/PolicyProgramsResearch/Research/Pages/wp1902.aspx.
99 Morning Consult/Bipartisan Policy Center poll, September 2021.
100 Ibid.}