Black Homeownership Historical Facts
Did you know, in the 1940's the FHA drew a red line around black neighborhoods to warn banks not to lend there?
Their appraisal manuals told them to stay away from “inharmonious racial groups.” Out of 67,000 mortgages insured by the G.I. bill, less than 100 went to blacks.
The more you know, the more you can grow... At Katrina Eileen Real Estate we are committed to learning more and understanding discriminatory practices that lead have led to a generational wealth gap throughout the decades. During Black History month, we will be sharing facts and statistics relating to black history and real estate in an effort to raise awareness, empower and create change in our communities and beyond.