Urban Prospect: Attaining Home Equity

Owning a home signifies middle-class status and the achievement of the American Dream. Through the tax code, banking regulation and direct market intervention, public policies have long been designed to foster homeownership. Unfortunately, the benefits have accrued mostly to white Americans, while numerous obstacles have been thrown in the path of blacks and other minorities. In recent years, however, both public agencies and private financial institutions have attempted to redress racial disparities in homeownership.