danielle-mertina:blackqueerblog:That’s trueIt’s generational poverty. I’ve also read stats on homeow
danielle-mertina:blackqueerblog:That’s trueIt’s generational poverty. I’ve also read stats on homeownership. The majority of white millenial homeowners received downpayment assistance from their family. The majority of black millenial homeowners had to buy the house solely with their own financial resources. This is part of why there’s a huge discrepancy between white and black homeownership rates. This then perpetuates the cycle where black millenials will one day need help from their children because you accumulate far less wealth for retirement when you’re unable to buy a home in your 20s or 30s. -- source link