Black Millennials and the White Picket Fence

By Mariah McClain | Word In BlackThis commentary is part of Unerased | Black Women Speak’s December exploration, Claiming Our Space: Preserving Our Future.Two-thirds of white millennials are homeowners compared to less than one third of Black millennials.Credit:Photo by Tierra Mallorca on Unsplash(WIB) – At the age of 24, I purchased my first home. It was a bittersweet milestone that made my mom incredibly proud. In a twist of fate, the closing date was set for the same day she passed away. September 24, 2020, is forever etched in my heart — not just because of the odd coincidence, but because it marked the last achievement my mom would witness. Homeownership, for me, symbolized peace of mind for her. She could rest knowing her daughter had scored important financial security that could seed generational wealth.Buying a home is a milestone, but also a dream passed down to many millennial children and grandchildren from Baby Boomers and Gen-Xers. It has long been sold as the cornerstone of the “American Dream,” complete with a white picket fence and all the trappings of middle-class attainment.For many of my Black millennial cohorts, purchasing a home feels like a measure of pressure and pain. As...