Lawmakers want to know why there are fewer LGBTQ+ homeowners than straight: 'Concerning disparities'
LGBTQ+ people have a significantly lower rate of homeownership than their straight and cisgender peers, and U.S. lawmakers are demanding to know why.Several members of the House of Representatives have sent a letter, exclusively shared with The Advocate, to the Consumer Financial Protection Bureau inquiring about the "disparities" in homeownership and the lack of data surrounding LGBTQ+ households. The group asked Director Rohit Chopra to create a Data Action Plan involving sexual orientation and gender identity minorities and to investigate queer consumers' complaints about home-buying services. The lawmakers also called for the CFPB to "do so in alignment with best practices and rigorous research about how to responsibly collect these data in ways that safeguard privacy, security, and civil rights."The letter cited a recent report by the Urban Institute, which found a 5-percentage-point gap in homeownership between LGBTQ+ households and their straight and cisgender counterparts, even after accounting for financial and demographic characteristics. The disparities were most prevalent among LGBTQ+ households of color, as only 35 percent of Black and queer households are homeowners, compared to 51 percent of Black non-LGBTQ+ households and 77 percent of white non-LGBTQ+ households."Further data analysis to better understand these trends and provide evidence-based policy recommendations is limited by a lack of publicly available data," the letter reads. "Responsible data collection on sexual orientation, gender identity, and variations in sex characteristics is critical to support intersectional research to better understand the credit experiences of LGBTQI+ homebuyers with respect to mortgage rates, loan terms, loan amounts, and denial rates for mortgage credit.""Such data and research are essential to support evidence-based policymaking to improve the economic security and housing stability of the LGBTQI+ constituents that we serve," it continues.The letter was signed by 20 members of the House of Representatives, led by Democrats Ritchie Torres and Raja Krishnamoorthi. The group requested that Chopra give a response by no later than July 31.
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