Systemic Racism Impacts Home Ownership Too
Racism against any group is unacceptable. Recent incidents of anti-Black racism have caused worldwide shock and outrage.
Based on the data available, Mortgage Sandbox believes that wide-spread systemic racism disproportionately disadvantages Black, Indigenous and People of Colour (BIPOC). Systemic racism is a significant barrier to these communities' ability to compete equally in opportunities for economic, social advancement, and homeownership.
Systemic racism is complex, and so are the factors that enable a person to buy a home.
There will be no simple solution.
Government housing agencies and industry must engage with these communities to urgently address the injustice of systemic barriers to black homeownership. The gaps in homeownership among other visible minorities and indigenous Canadians is also of grave concern; however, based on the data, Black Canadians are the most urgent priority.
