Secretary Marcia Fudge, who heads the U.S. Department of Housing and Urban Development, has made it a priority to focus on policies and programs that could potentially meet underserved communities’ complex housing challenges. In doing so, she is helping senior citizens and low-income families across the U.S. have the opportunity to secure generational wealth.
What should the Black community’s priority be, as it relates to housing and creating generational wealth?
Today, there’s a 30-point gap between Black and White homeownership. It is as wide now as it was in the ’60s, when HUD was first brought into being. Most people create wealth through homeownership. As a consequence, that is something that we have focused on. We are making it easier to get down payment assistance and to become creditworthy. We’re working with people who have student loan debt and are trying to address the discrimination in the appraisal process.
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