The new kids on the block
As interest rates begin to cool off for the first time in a few years, prospective “first time homebuyers” may have their wheels spinning again about whether it’s a good idea to buy a home.
Still, the idea of home ownership may feel out of reach for some; historically, the prevalence of homeowners has been low in certain subsets of the population.
It wasn’t until the 1900’s that laws were enacted to grant women and people of color equal access to property ownership: 1968: The Fair Housing Act prohibited discrimination in home buying, homeownership, and rental real estate based on sex, race, religion, and other protected classes.
1974: The Equal Credit Opportunity Act (ECOA) prohibited discrimination in consumer credit practices based on sex, marital status, and other factors.
