Are you ready for homeownership? Are weighing the options of buying in 2023 or waiting to time the market? Here’s what Windermere’s Chief Economist Matthew Gardner says.

A recent publication from the Office of Lieutenant Governor Denny Heck, “The Racial Wealth Gap Is The Housing Gap” highlights the two key factors of how the housing gap is directly correlated with the racial gap in America. Furthermore, the implications on the economy as the racial wealth gap continues to grow.

Each year we raise money to gift members of our community a delicious dinner with all the fixings included! Last year, we served 85 families as a group and our goal this year is to serve up to 150 families and raise money for as many families as we can in the Tacoma area.

The outcome from disproportionate student loan debt is a topic that needs to be highlighted as well. Black home buyers carry the most student loan debt which leads to a disadvantage when saving for a downpayment. With less money for a downpayment, the median home price for a Black home buyer is 12% less than the median home price of a White home buyer, which ultimately leads to a disadvantaged opportunity for long-term wealth gains.