The rise and dramatic fall of King County's black homeowners
Homeownership — it’s the cornerstone of the American dream.
In recent years, with prices soaring out of reach, that dream seems more like a nightmare to many would-be Seattle homebuyers.
But for black families in King County, it’s old news. The dream of homeownership is one that’s been slipping away for decades.
In 1970, almost half of King County households headed by a black person owned their home, according to census data. The rate of black homeownership here, at 49 percent, was well above the U.S. average of 42 percent.
Since then, black homeownership in King County has been on a steady downward spiral, with just 28 percent of black households in the county owning their home — about 13,000 of the nearly 48,000 total households.
Read more: http://www.seattletimes.com/seattle-news/data/the-rise-and-dramatic-fall-of-king-countys-black-homeowners/
