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But while the pandemic is causing millions to face a mortgage crisis for the first time,

housing instability is nothing new for black people.

In fact, it's something African Americans have been dealing with long before the coronavirus.

So let's find out why, in another installment of If You Don't Know, Now You Know.

It's no secret that white people have had an easier time getting ahead in America.

But one of the most important reasons for this might surprise you.

For millions owning a home remains at the heart of the American drain.

But many black Americans have been left out.

A new report says just 44% of black families own a home compared to 74% for whites.

Owning a home is the way that most people develop wealth.

It is the way that for years and years and years people have been able to pass something

on to their children or pay for their education.

It's part of the reason the average white family has about 10 times the median wealth of a black family.

The gap between white and black homeowners is greater now than it was since before the

Fair Housing Act of 1968 when segregation was legal.

That's right. The home ownership gap is worse for black people now than it was in segregation.

Which is insane. I never thought of black. I could be able to say,

ah Jim Crow, those were the good old days.

But it makes sense when you realize how only real estate helps you build wealth.

And that wealth becomes generational.

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