Housing boom puts Chicago region out of reach to low-income limaohio.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from limaohio.com Daily Mail and Mail on Sunday newspapers.
Many first-time homebuyers are being priced out of the Chicago market, study shows chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.
Over 13 million potential first-time homebuyers were priced out this year, putting homeownership out of reach for low-income households in most of the largest U.S. cities.
How Can We Catch Up? Mortgage Denials Stack the Deck Against Black and Hispanic Buyers How Can We Catch Up? Mortgage Denials Stack the Deck Against Black and Hispanic Buyers
The American dream of homeownership is not an equal opportunity ambition. Blacks and Hispanics are more likely to be denied mortgages or get pricier loans.
Clare Trapasso, provided by
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The American dream of homeownership is not an equal opportunity ambition.
Black and Hispanic home buyers are more frequently denied mortgages than white buyers even when their financial pictures are similar, according to a realtor.com® analysis of 2019 mortgage data. When they are able to secure mortgages, Black and Hispanic borrowers are more likely to pay higher fees and interest rates on their loans than white and Asian borrowers.