Tuesday, June 9th, 2020
now browsing by day
Members of the lesbian, gay, bisexual, transgender, and queer community are much less likely to be homeowners than straight Americans, report says.
Photo: Maria Korneeva/iStock Getty Images
The LGBTQ movement has come a long way. This month rainbow pride flags are hanging in windows, flying on town street posts, and appearing in social media feeds of individuals and businesses. But as the nation continues to grapple with discrimination of all kinds, with “Black Lives Matter” demonstrations held throughout the country, there’s still a lot of work that needs to be done—and housing equality is no exception.
Members of the lesbian, gay, bisexual, transgender, and queer community are much less likely to be homeowners than straight Americans,
This recession is divergent from past downturns, both in its onset—a pandemic that triggered a global economic shutdown—and its trends and patterns, which are still emerging. During a digital conversation last week hosted by George Smith Partners, panelists—Bethany Logan Ropa of UBS Investment Bank; Tim Sullivan of Meyers Research; and Wes Rogers of Landmark Properties—discussed what has been most surprising as the market shifted in the last few months.
Sullivan noted that the trends have widely varied based on the market and the severity of the COVID-19 outbreak, meaning that the impact in New York City looked much different than in Austin, Texas. Jobs were also lost at a much faster rate than in past recessions. “We lost more jobs quicker than any other downturn than in the history of the US. We are hoping that it is going to come back quickly,” he said.