A Harvard study led by Charlotte spurred the city to increase support for first-time homebuyers, aiming to drive social mobility. This move follows President Trump’s attacks on diversity programs, which changed the conversation around inequality. Despite efforts, Black Americans still face significant economic disparities, with median earnings two-thirds lower than those of White Americans. Zayn Bey, a 30-year-old single mother of two, exemplifies the challenges many face in achieving homeownership. With an Amazon truck driver job and side hustle, Bey aspires to middle-class status, illustrating the importance of targeted support for first-time homebuyers.
Source: https://www.bloomberg.com/news/features/2025-03-07/how-charlotte-nc-is-working-to-narrow-racial-wealth-gap