The racial wealth gap in the United States has witnessed alarming growth in recent years, with BIPOC households now possessing less than 25% of the wealth held by their white counterparts. A substantial portion of this wealth gap can be attributed to disparities in housing. Owning a home remains a principal method for building and transferring wealth, constituting approximately 70% of an individual’s net worth. However, challenges such as housing discrimination, restrictive zoning laws, income disparities, and lending practices have created barriers to homeownership, particularly for BIPOC individuals and first-time homebuyers.
Real estate lawyers and practitioners have a unique opportunity to address this critical issue by creating new pathways to homeownership for increasingly diverse communities. We invite you to join this critical examination of how real estate law plays a pivotal role in the short-term provision of affordable housing to underserved communities and, in the long term, contributes to the wealth accumulation of Black individuals and families.