Homeownership surpasses renting in Detroit for first time in a decade
Stabilizing homeownership is an important step in reversing the trend of declining homeownership, according to the director of Detroit’s Housing & Revitalization Department.
Houses in Detroit's Live6 neighborhood.
New census data suggests that, for the first time in a decade, Detroit is now a majority owner-city. It’s an important milestone, as a recent report indicates addressing homeownership is a crucial step toward achieving economic equity.
In July, city officials announced a seven-point, $203 million affordable housing plan as part of its efforts to improve home ownership in Detroit.
“I think it marks a milestone and provides some evidence that we are moving in the right direction.” — Julie Schneider, Housing & Revitalization Department director
Listen: How home ownership census data may reveal a positive trend.
Guest
Julie Schneider is the director for the Housing & Revitalization Department at the City of Detroit.
“Stabilizing home ownership for existing home owners is essential to reversing the trend of declining home ownership,” says Schneider. “And the other side is creating opportunities for home ownership.”
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