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Comfort Boateng sorts through two large boxes of mortgage and financial papers. Photo: Michel du Cille/The Washington Post via Getty Images

A significantly smaller percentage of African Americans owned a home in 2017 than white Americans, according to an annual report from Harvard's Joint Center for Housing Studies — only 43%, compared to 72% of their white counterparts.

The big picture: The Washington Post's Jonnelle Marte reports that despite the housing market making progress in recovery from the financial crisis, the gap between white and black households is still there.

Between the lines: Chief economist of Veritas Urbis Economics, Ralph McLaughlin, told the Post that there is an extensive history of African Americans being hindered from owning homes by unfair housing policies.

  • Since the financial crisis, banks and other loan lenders "added more consumer protections and raised the qualifications for mortgages," the Post reports, which "resulted in an overcorrection that made it especially difficult for people of color...to break into the market."

Go deeper

Mike Allen, author of AM
2 hours ago - Politics & Policy

GOP senator calls for senility test for aging leaders

Photo: "Axios on HBO"

Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.

Why it matters: Wisdom comes with age. But science also shows that we lose something. And much of the world is now run by old people — including President Biden, 78 ... Speaker Pelosi, 81 ...  Senate Majority Leader Chuck Schumer, 70 ... and Senate Minority Leader Mitch McConnell, 79.

Ina Fried, author of Login
2 hours ago - Technology

Intel CEO blames predecessors for manufacturing woes

Axios on HBO

When it comes to Intel's recent manufacturing problems, Intel CEO Pat Gelsinger places the blame squarely on his predecessors — many of whom he notes were not engineers deeply steeped in chip technology, as he is.

Why it matters: Gelsinger has announced a broad plan to reinvigorate Intel by doubling down on manufacturing. However, the strategy depends on the venerable semiconductor giant recovering from recent stumbles.

Marketing to Generation Alpha

Illustration: Rae Cook/Axios

Marketers are pouring money into figuring out the tastes and habits of Generation Alpha — kids born from 2010 through 2024 — who are unprecedented in the extent they're growing up online.

Why it matters: They're weaned on TikTok, Amazon and in-app purchases. They're learning from their millennial parents to hold brands accountable for causes like social justice and sustainability. And no prior age cohort will be as large in size or marketing power.