A2: Minority Home Ownership
Increase minority homeownership. Other Information:
This objective continues to support the President’s goal, established in 2002, of eliminating barriers to minority homeownership
and adding 5.5 million more minority homeowners by 2010. A unique public-private partnership is bringing together government,
the real estate and mortgage finance industry, affordable housing groups, and advocacy organizations to work on a nationwide
campaign to increase homeownership opportunities for minority families. The homeownership rate for minorities in 2002was 49.2
percent, more than 25 percentage points below the 74.5 percent homeownership rate for nonminority households. Between 2002
and the end of FY 2005, 2.4 million minority homeowners had been added, on track to complete the President’s goal. The minority
homeownership rate climbed to 51.2 percent at the end of FY 2005.
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