Housing is a cornerstone of economic mobility. Yet an affordable, safe, and good quality home—rented or owned—is increasingly out of reach for too many. With rising costs and a shortage of 8.2 million units in 2023 in the United States, Black Americans are particularly affected. McKinsey’s JP Julien, Shelley Stewart III, and coauthors write that addressing the housing shortage in the US could mean an additional $2 trillion in GDP, 1.7 million jobs, and millions of units for families.
This Black History Month, dive into McKinsey Institute for Black Economic Mobility’s latest report to learn more about the state of housing and its challenges, opportunities, and potential bold solutions.
Investing in housing: Unlocking economic mobility for Black families and all Americans
Economic mobility: Making lives better now—and for the long term
The state of Black residents: The relevance of place to racial equity and outcomes
The impact of generative AI on Black communities
A community Dr. King would be proud to call home: Revitalizing Atlanta’s westside