This week, hundreds of communities across the country will celebrate national homeownership week. And there is some reason for merriment. Homeownership is on the rise. Today, a record 68 million American families own their homes.
Interest rates are at a favorable low, and the economy is strong.
Not since the 1960s has the nation experienced such a boom in the housing market. But it's still too soon to break out the champagne. Like the housing market of the 60s, the picture is mixed. The Kerner Commission Report, released thirty years ago, revealed entrenched poverty in the inner cities and an increasing divide between blacks and whites in areas of housing, employment, and education. When we scratch beneath the surface, the housing market of today is still fraught with housing discrimination and lending bias.