NY1 Inside City Hall: Report Finds Racial Disparities in Homeownership Across N.Y.

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A new report released this week by state Attorney General Letitia James’ office finds deep racial disparities among homeowners across New York.

The report details that white households are more than twice as likely to own their home, compared to Black or Latino households.

According to the report, people of color who apply for loans for mortgages were more likely to be denied.

The report says the disparities are not just limited to individual applicants and borrowers, but are also present across Black and Latino neighborhoods.

The report recommends several policies that could be enacted by the state and help reduce the racial homeownership gap, including passing the New York Public Banking Act to help expand affordable financial services in underserved neighborhoods.

Deyanira Del Río, co-director of the New Economy Project, a nonprofit dedicated to social and economic justice, joined NY1 political anchor Errol Louis on “Inside City Hall” Thursday to discuss the report’s findings and recommendations.