From ABC 10 News San Diego:
The San Diego Housing Commission Thursday began a pilot program to assist middle-income Black, Indigenous and people of color first- time homebuyers.
Homeownership rates for many households of color are significantly lower than other racial groups. An SDHC-commissioned Urban Institute study of city of San Diego households found homeownership rates of 29.1% among Black households and 35.2% among Latino households, compared with 54.8% among white households.
"Middle-income residents are often overlooked, but this program invests in creating more access for first-time homebuyers of color," said San Diego City Council President Pro Tem Monica Montgomery Steppe, co-chair of the City-County Reinvestment Task Force. "I'm excited that this significant opportunity will help eliminate the racial wealth gap and work toward an equitable future of homeownership."
Read ABC 10 News San Diego's article "Housing commission launches pilot program for BIPOC 1st-time homebuyers. (link is external)"