Millennials trail Baby Boomers and Generation Xers in the number of households they head. But Millennial-run households represent the largest group in some key categories, such as the number in poverty or the number headed by a single mother.
Black and Hispanic mortgage applicants are denied more frequently than whites and Asians, and when they do obtain mortgages they tend to pay higher rates.
Homeownership in America stands at its lowest level in at least 20 years. The decline has been more pronounced among households headed by young adults, blacks and those in the lower income tier.
Although household-income growth for African-Americans has outpaced that of whites since the 1960s, those gains haven’t led to any narrowing of the wealth gap between the races.