The Need for Stability
The basis for Blackstar Stability’s mission and purpose.
Wealth Gaps in America are Huge and Growing
- The longest US economic expansion in history has pushed the wealth gap to the widest it has ever been
- Gains across socio-economic and racial lines have been acutely disparate
- The wealthiest 100 members of the Forbes list own as much as the entire African-American population
- The racial wealth gap has more than tripled over the last 25 years
- More than 100% of the recovery of median wealth from 2010-2016 was due to a high return on wealth, offset by negative savings
Homeownership is Key for Building Wealth
- Nearly two-thirds of wealth for middle-income families is comprised by their principal residence
- Uneven access to the housing finance system has led to divergent outcomes
- Latino home ownership is increasing alongside income levels and education levels, accounting for more than 60% of the growth in the nation's homeownership rate within the last 10 years
- Blacks' homeownership level is nearly 10% points below the level attained immediately prior to the housing crisis and lower than before the passage of the Fair Housing Act in 1968
Closing the Wealth Gap Benefits Everyone
