Diversity, equity and inclusion (DEI) is a term used to describe policies and programs that promote the representation and participation of different groups of individuals, including people of different ages, races and ethnicities, abilities and disabilities, genders, religions, cultures and sexual orientations. The US Census Bureau shows that there is a racial disparity for homeownership in America.
As of Q-1 2021, the Black homeownership rate stands at 45.1% which is the lowest for all racial groups. The non-Hispanic White homeownership stands at 73.8% which is the highest for all racial groups. This results in a 28.7% gap between Black and non-Hispanic White homeownership. It should be noted that this gap is higher today than it was in 1968, when the Black homeownership rate of 42% compared to the non-Hispanic White homeownership rate of 63.9% resulted in a 23.9% gap. The importance of home ownership in all communities cannot be understated. Therefore, the goal of the National Association of Real Estate Brokers (NAREB) is to reduce and ultimately eliminate the rate gap between Black and non-Hispanic White homeownership.
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