Ugly trend: Minnesota ranks worst in racial homeowning gap
- Blog Post by:
- October 11, 2012 - 4:12 PM
New numbers just out show some distributing trends in the homeownership rates of whites and folks of color. The new stats, compiled by MInnesota Compass, show minority home ownership dropping in the metro area from 2008 to 2011 despite households of color rising overall by 15 percent in the same period.
So, if you're a real estate agent, the growing segment of the population is buying fewer homes.
And the gap between homeownership among whites and minorites continues to widen.
The numbers reflect embarrassing state trends: Here's a chart that shows Minnesota ranked dead last when it comes to the gap in home ownership between people of color and white homeowners.
From 2008 to 2011 in the Twin Cities area, there has has been a real drop in the homeownership rate among households headed by a person of color, from 45.7 percent to 37.2 percent. That compares to a much less dramatic decline among households headed by a non-Hispanic white, down from 78..4 percent to just under 77 percent.
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