In Seattle's Central District, the number of Black homeowners has reached a historic low. And across Seattle, less than half as many Black households own homes as white families. But there's a new law that could help turn that around.

The law expands the Covenant Home Ownership program, a state program that helps first-time Black and other marginalized home buyers cover their down payments and closing costs.

In today's episode, Joshua explains why Black homeownership has plummeted and what lawmakers are doing to boost it.

Thank you to the supporters of KUOW, you help make this show possible! If you want to help out, go to kuow.org/donate/boomingnotes. 

Do you have a question about the economy that you want us to answer? Or an idea for a future episode? Email us at [email protected]. 

Booming is a production of KUOW in Seattle, a proud member of the NPR Network. Our editor is Carol Smith. Our producers are Lucy Soucek and Alec Cowan. Our hosts are Joshua McNichols and Monica Nickelsburg.

Support the show: https://kuow.org/donate

See omnystudio.com/listener for privacy information.