WCCO EYE4 LOGO WCCO Radio wcco-eye-green01, ww color green

Local

Home Ownership Rate For Black Minnesotans Drops

View Comments
real estate, new home, home for sale, housing market

(credit: Jupiter Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up
Today's Most Popular Video
  1. Minneapolis Preparing For A Busy Weekend
  2. 4 Things To Know For 7/10
  3. Hamel Rodeo Kicks Off 34th Year Friday
  4. Working For The Weekend: Top Entertainment Bets
  5. The Lowdown: Bieber Punished For L.A. Egg Throwing Incident

ST. PAUL, Minn. (AP) – New census figures show the home ownership rate for black Minnesotans has dropped.

According to 2010 U.S. census data released this week, the rate fell to 25 percent last year compared to 32 percent a decade earlier.

The St. Paul Pioneer Press reports experts point to a wave of predatory lending, followed by a worsening economy resulting in job losses.

Census figures indicate the overall statewide home ownership rate is 73 percent.

Ed Nelson, a spokesman for the Minnesota Homeownership Center, says foreclosures are mostly caused from unemployment or underemployment and the black community has a disproportionate population of people in those categories.

Minnesota’s black homeownership rate trails that of other states for which 2010 data is available, including Alabama, Delaware, California, Kansas, Connecticut, Colorado and North Carolina.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

View Comments
blog comments powered by Disqus