December 21, 2023

Navy Federal Credit Union, the largest US credit union, has the widest racial disparity in mortgage approval rates among major lenders, according to a new analysis. In 2022, it approved over 75 percent of white applicants but fewer than 50 percent of Black applicants for conventional home purchase mortgages, with a nearly 29-point gap. The disparity persists even when applicants have similar incomes, raising concerns about lending practices.

Homelessness in the US increased by a record 12 percent between January 2022 and January 2023, reaching over 650,000 people, the highest since 2007, according to the US Department of Housing and Urban Development. The rise, mainly among first-time homeless individuals, underscores the consequences of reduced federal pandemic assistance and eviction moratoriums and limited affordable housing.

San Diego’s Project Rest, one of the largest emergency hotel-stay program for students experiencing homelessness in the US, faces uncertainty as federal pandemic aid ends next school year. The program, which has assisted more than 1,200 families since its launch nearly two years ago, addresses the challenges of rising student homelessness and absenteeism. While advocates highlight its transformative impact, the future of this program, along with many others across the country, remains in jeopardy without sustained funding.

Southern states—including Florida and Texas—have seen large increases in Black Americans, as part of a “reverse migration,” where descendants of Black migrants who moved to the North and Midwest between 1915 and 1970 are moving back to the South to escape factors such as environmental racism and poor health outcomes. In doing so, they are moving to areas with some of the largest climate disasters, potentially increasing exposure to environmental injustices, harm during severe weather, and the financial burden of climate disasters.