Crisis and Change: Conversations With Leaders—Race and Diversity Today

Homeownership is the largest source of wealth for most American families, and obtaining a safe, traditional 15-to-30-year mortgage is a key step toward achieving financial security. But outdated housing policies and financial regulations have made small mortgages—those for homes priced under $150,000—expensive for lenders and unavailable for millions of qualified and creditworthy borrowers, especially Black, Hispanic, and Indigenous households and those in rural communities. With limited access to small mortgages, many of these families turn to alternative financing arrangements, which often involve financial risks and lack many of the protections traditional mortgages offer.

Story: “Crisis and Change: Conversations With Leaders” is produced in partnership by The Pew Charitable Trusts and the Stanford Social Innovation Review. In the series, leaders from across the social sector share insights about how they are innovating during challenging times.

In this episode, Crystal Hayling, executive director of The Libra Foundation, and Sonal Shah, founding president of The Asian American Foundation, discuss their organizations’ work toward transforming the way race is discussed in America and how to improve understanding about racial concerns to lead to a more inclusive society.

Related resources:  

After the Fact podcast season “Race and Research”

Americans see stronger societal conflicts than people in other advanced economies

Majorities of Americans see at least some discrimination against Black, Hispanic and Asian people in the U.S.

Census: US sees unprecedented multiracial growth, decline in the white population for first time in history