In the wake of escalating mortgage rates and soaring housing prices, the dream of homeownership in the United States is slipping further from the grasp of many Americans, particularly African Americans. Recent reports from financial and real estate authorities reveal that prospective homebuyers, burdened by the growing costs of homes and borrowing at higher interest rates, face an increasingly challenging landscape. Meanwhile, disparities in homeownership persist, disproportionately affecting minority communities, and access to mortgages remains an uphill battle.
Rising Interest Rates, and Prices Keep Homeownership as a Distant Goal, Especially for African Americans
