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Unformatted text preview: manual, or domestic
labor, and excluded from jobs that allowed them to accumulate savings and
e were discriminated against by lending institutions and were excluded from owning
homes in economically desirable locations through redlining and other policies. In other words, at pivotal points in U.S. history when socioeconomic factors produced
abundant opportunities for wealth and property accumulation—such as the G.I. Bill and
home mortgage subsidies—white Americans were positioned to take advantage of them,
whereas Americans of color were systematically prohibited from beneﬁting from them.
And we can see that these inequalities are likely to continue for some time by examining
statistics about one of the major avenues for wealth accumulation—homeownership—
and about access to credit, which is a key stepping stone on the path to homeownership.
Lack of homeownership has social effects beyond wealth accumulation. Adults who do not
own homes do not have access to home equity that might be tapped for important investments, such...
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- Spring '14