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The Editors

One Way to Fix the U.S.’s Racial Homeownership Gap

Down payment assistance can be more effective than easy credit.

Unwelcome to the neighborhood.

Unwelcome to the neighborhood.

Photographer: George Marks/Retrofile/Getty Images

More than 150 years after the end of slavery, most Black families in the U.S. lack an essential part of the American dream: a home of their own, with all the benefits of stability and financial security that entails.

Government policy is deeply implicated in this state of affairs. Occasional efforts to address the problem have mostly failed — and sometimes they’ve made things worse. President Joe Biden can and should do better.