The gap between Black and white homeownership remains wider than it was decades ago, and National Association of Real Estate Brokers President Ashley Thomas III says closing it will require changing the systems that determine who gets access to homeownership.
During a conversation with the Black Information Network at the Congressional Black Caucus Foundation's Annual Legislative Conference, Thomas discussed mortgage lending, student debt, institutional investors and protecting generational wealth.
In the first quarter of 2026, the Black homeownership rate stood at 44%, compared with 75% for non-Hispanic white households, according to U.S. Census Bureau data. The gap remains wider than it was around the passage of the Fair Housing Act in 1968.
Thomas pointed to longstanding barriers including discriminatory housing practices, income disparities, student loan debt and mortgage underwriting standards. NAREB has previously called for changes to how student loan debt is calculated during the mortgage approval process, arguing that current practices can limit Black borrowers' purchasing power.
He also discussed the impact of high interest rates and competition from institutional investors, advocating for policies that give families looking to buy homes a better opportunity to compete for properties.
Thomas said protecting Black homeownership also means protecting the wealth families have already built. He highlighted NAREB's work to expand access to estate planning, wills and trusts to help families preserve property across generations.
The effort is particularly important for families dealing with heirs' property, where unclear ownership or titles can make inherited homes and land vulnerable to loss.
Thomas said NAREB will continue working directly with prospective homeowners to help them navigate the mortgage process while advocating for broader changes to the housing system.
Listen to the full conversation below!
For more of our interviews from the Congressional Black Caucus Foundation’s 55th Annual Legislative Conference, check out Our Voices!
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