? ?
- Angela: Homeownership has been described
as a core component of the American Dream.
The National Housing Act of 1934,
signed by President Franklin D. Roosevelt,
founded the Federal Housing Administration or FHA
to improve housing conditions during the Great Depression.
This access did not extend, however,
to Black and other historically marginalized groups.
And instead furthered housing discrimination
through a policy known as redlining,
marking in red on government-sponsored maps
where Black and other communities of color
lived or lived nearby.
This indicated to appraisers that these neighborhoods
were too risky to insure mortgages.
At the same time,
the FHA subsidized the production
of new suburban communities for white families
with the requirement
that none of the homes be sold to Blacks.
This meant Black families and other families of color
were relegated to urban housing projects.
The Fair Housing Act of 1968 sought to end
these discriminatory practices,
but the legacy of redlining remains.
In the first quarter of 2022,
the national home ownership rate for white families
was approximately 74% compared to 44% for Black families.
The racial home ownership gap
is even greater in Wisconsin, and it continues to grow.
Watch more Why Race Matters online
and on the PBS app on your phone, tablet, Roku,
or any other streaming device.