Housing and Racial Wealth Inequality Laser Talk
June 4th, 2019
Support policies that increase access to housing and reduce the racial wealth divide
Engage: According to Harvard researchers, since 1960 renters’ median earnings have gone up 5 percent while rents are up 61 percent.
Problem: We have an affordable housing crisis. Meanwhile wealth inequality, especially along racial lines, is a huge problem and many families lack the assets needed to weather financial problems and build for the future.
Illustrate or Inform: Median wealth for white families is 10 times greater than African American family wealth and eight times greater than Hispanic family wealth. And only 37 affordable and available rental homes exist for every 100 extremely low-income renter households. We must reduce wealth inequality and close the racial wealth divide. Housing policy can help us do that [include your own experience/why you care].
Call to Action: In conversations about long-term housing and tax priorities, will you support a “Renters Tax Credit” for low- and moderate-income renters? Several policymakers have introduced legislation that does this (H.R. 2169 and S. 1106, H.R. 7050 and S. 3342 in 2018).
Additional Actions: We also hope you’ll support bipartisan bills to pilot emergency stabilization funds for families facing evictions and address other barriers to affordable housing and racial equity including inclusive zoning, credit scores, and application fees. In addition, RESULTS supports efforts to target homeownership policies for first-time homebuyers impacted by segregation to reduce racial wealth inequality, and increase the supply of affordable housing via robust expansions of the Housing Trust Fund.