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CLOSING THE ETHNO-RACIAL WEALTH GAP: RECONSIDERING HOMEOWNERSHIP AS THE TOOL GAP

José Loya

Assistant Professor

Department of Urban Planning

UCLA

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INTRODUCTION

  • Homeownership central to financial security for most Americans
    • Hedge against inflation
    • Tax favored form of savings and investment (via appreciation)

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  • Differential access to homeownership is key contributor to racial and ethnic inequality
    • Homeowners on average have better access to higher quality neighborhoods and schools
    • Important source of massive inequality in inheritance

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