![]() ![]() The burgeoning auto industry made Detroit a destination for job-seeking blacks nearly a century ago, leading to wealth creation passed down through generations and home ownership rates rarely seen previously.īut manufacturing job loss from the Great Recession followed by foreclosure was the major factor bringing down Michigan's numbers, Treskon said. In comparison, home ownership rates for whites state-wide dropped from 79 percent in 2000 to 76 percent in 2016. "The loss of that equity has really harmed the ability of region's residents to build wealth for themselves and their families to set themselves up for the future." "The city and the region was a destination for people to build wealth and equity," Treskon said. The Washington D.C.-based think tank issued the report Tuesday. Much of that decline was seen in Detroit, which until the early 2000s had some of the highest levels of black home ownership in the country, said Mark Treskon, a research associate with the Urban Institute. ![]() ![]() The percentage of African-Americans who own their own homes dropped in Michigan more than any other state, down to 40 percent from just over half in 2000, according to a report. ![]()
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