Homeownership and America's Financial Underclass: Flawed Premises, Broken Promises, New Prescriptions

Why does America have a love affair with homeownership? For many, buying a home is no longer in their best interest and may harm their children's educational opportunities. This book argues that US leaders need to re-evaluate housing policies and develop new ones that ensure that all Americans have access to affordable housing, whether rented or owned. After describing common myths, the book shows why the circumstances now faced by America's financial underclass make it impossible for them to benefit from homeownership because they cannot afford to buy homes. It then exposes the risks of 'home buying while brown or black,' discussing US policies that made it easier for whites to buy homes, but harder and more costly for blacks and Latinos to do so. The book argues that remaining racial discrimination and certain demographic features continue to make it harder for blacks and Latinos to receive homeownership's promised benefits.

1. Chasing the American dream; 2. The happy homeownership narrative; 3. US support for homeowners; 4. The homeownership crisis; 5. Homeowner harm and the blame game; 6. Flawed premises; 7. The burden of home buying while black or Latino; 8. The benefits of home buying while black or Latino; 9. Homeownership: demographic disparities; 10. Outlook and prescription for the future.