Racism has had a long and devastating impact on homeownership in the United States. From redlining to predatory lending, discriminatory practices have made it more difficult for people of color to buy homes. As a result, the gap in homeownership rates between white and minority households is wide and persistent.

Redlining was a practice that began in the 1930s, when the federal government created maps that designated certain neighborhoods as “hazardous” for lending. These neighborhoods were often home to minority communities, and they were denied access to mortgages and other loans. Redlining made it difficult for people of color to buy homes, and it contributed to the growth of segregated neighborhoods.

Predatory lending is a practice that preys on borrowers who are considered to be high-risk. These borrowers are often offered loans with high interest rates and fees, which can make it difficult for them to repay the loans. Predatory lending has been particularly harmful to minority borrowers, who are more likely to be targeted by these lenders.

Discrimination in the housing market continues to be a problem today. Homebuyers and renters of color are more likely to be denied housing, charged higher rents, and subjected to other forms of discrimination. This discrimination makes it more difficult for people of color to achieve the American dream of homeownership.

The gap in homeownership rates between white and minority households is wide. In 2020, the homeownership rate for white households was 74.8%, while the homeownership rate for Black households was 44.8% and the homeownership rate for Hispanic households was 49.1%. This gap has persisted for decades, and it is a major obstacle to economic opportunity for people of color.

The legacy of racism in the housing market has had a profound impact on the lives of millions of people. It has made it more difficult for people of color to build wealth, accumulate assets, and achieve the American dream. It has also contributed to segregation and inequality.

Another historic issue that hindered homeownership for marginalized populations is Homeowner Associations (HOA). For instance, in 1968, the Fleetwood Estates Homeowners Association (HOA) adopted a covenant that prohibited the sale of homes to African Americans. The covenant was challenged in court and eventually struck down, but it had a lasting impact on the neighborhood. Another example is that in 1971, the Hartsdale Village HOA adopted a covenant that prohibited the sale of homes to people of color. The covenant was also challenged in court and eventually struck down, but it had a similar impact on the neighborhood. Additionally, in the 1960s, the Scarsdale HOA refused to allow a black family to move into the neighborhood. The family sued the HOA and eventually won, but the HOA continued to discriminate against people of color in other ways.

In recent years, there has been a growing movement to address racism in HOAs. In 2020, the New York State Legislature passed a law that prohibits HOAs from discriminating against people on the basis of race, color, national origin, religion, sex, familial status, or disability. This law is a step in the right direction, but more needs to be done to address the problem of racism in HOAs.

The impact of racism in the housing market in Westchester County has been far-reaching and long-lasting. It has made it more difficult for people of color to build wealth, accumulate assets, and achieve the American dream. It has also contributed to segregation and inequality in the county.

Enforcing fair housing laws and providing affordable housing could help address racism and homeownership disparities in Westchester County.

Racism is a complex problem, and it will take time to address it. However, by taking these steps, we can make progress towards a more equitable housing market in Westchester County.