While the last decade has witnessed a boom and bust in homeownership generally, there have been, and continue to be, substantial gaps in the homeownership rates between minority and non-minority households. In 2007, the homeownership rate for white households was 75 percent, compared with less than 50 percent for black and Hispanic households- representing more than a 25 percent gap (U.S. Census Bureau). The purpose of this research project is to provide critical insights that will help affordable mortgage programs, like OHFA's First Time Homebuyer Program, extend affordable and sustainable homeownership opportunities to previously underserved residents. This research project also considers the importance of neighborhoods -- both renter and homebuyer neighborhoods -- for accessing information about housing options, enabling housing stability, and providing opportunity for growth and well-being. Preliminary results are available for download now, with more in-depth analysis anticipated for distribution in Fall 2010. Click here for a summary of preliminary findings.
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