Homeownership is one of the most widespread and effective ways families can build intergenerational wealth. Though it is not the best option for everyone, evidence shows homeownership is still financially better than renting. But housing equity is not shared evenly. The homeownership gap between Black families and white families is wider today than it was in the 1960s, both because of structural barriers to homeownership and because the Great Recession, natural disasters, and COVID-19 have hit Black households hardest. Accordingly, changes in the homeownership rate in the coming decades will significantly affect the wealth-building capacity of US householdsespecially those who already face barriers. In a new report, Urban Institute quantifies what homeownership rates will look like in the next two decades if current policies remain unchanged. They estimate that by 2040, there will be 6.9 million additional homeowners. But at the same time, the national homeownership rate will decline 3 percentage points, from 65 percent to 62 percent. Though this may seem like a modest decline, it will have an enormous impact on each successive generation in their prime homebuying and equity-building years, especially Black millennials and Black seniors. #housing #racialequity #assetsandwealthbuilding