This session will begin with remarks from Marcia L. Fudge, Secretary, US Department of Housing and Urban Development, followed by a panel discussion on Addressing the Roots of Inequality in Housing.

Homeownership is the historic cornerstone of wealth creation in the US, and has been denied to generations of Black and Brown Americans. For decades, this injustice has prevented equity creation and wealth transfer in communities of color. Across the country, the construction of new and affordable housing units has historically been limited by economic zoning restrictions—the legacy of redlining and other discriminatory lending practices—as well as gaps in local funding and resistance from established residents. The failure not only to add appropriate housing supply but to offer the requisite financial tools and credit to Black and Brown people has furthered obstacles to improving social mobility and obtaining the American dream. What steps can leaders take to induce and incentivize equitable housing development? For a post-COVID plan, how can they structure complementary demand financial tools at the federal level as part of an equitable economic recovery?