Data shows big racial disparities in mortgage loans and homeownership

Nationwide and in Virginia, African Americans were more than twice as likely as non-Hispanic Whites to be denied loans to buy homes in 2019 — even among applicants with similar income levels.

In light of the protests triggered by the death of George Floyd, the latest numbers take on added meaning because “homeownership is probably the most powerful way to rectify the racial wealth gap,” said Alex Guzmán, director of fair housing for the nonprofit group Housing Opportunities Made Equal of Virginia. … [My article for Virginia Mercury]