The dream of homeownership often conflicts with history and reality

Black homeownership in America lags behind white homeownership by a rate of about 44% to 72%, according to a report from the National Association of Realtors.That gap creates issues not just for Black people, but for broader society, said former Chicago Housing Commissioner Marisa Novara. “When you have those kinds of assets in your life, it gives you way more options and way more ability to care intergenerationally for the well being of your family and to invest in your community,” Novara said on the Rundown podcast earlier this year.Novara is now with the Chicago Community Trust, and on Wednesday she will join UChicago's Dr. Robert J. Chaskin, current Housing Commissioner Lissette Castañeda and Rundown podcast host Erin Allen for a conversation about addressing the racial wealth gap through housing policies at City Club of Chicago. Ahead of that event, we’re revisiting this episode on the value of homeownership, the historical barriers to it (and the modern ones), and a few solutions that are in the works to help level the playing field. This episode was originally published on Jan. 30, 2024.