Getting a home improvement loan in Philly is harder when you’re low-income or a minority, study shows

houses in Phila

http://www.philly.com/real-estate/housing/philadelphia-home-improvement-loan-bank-low-income-minority-federal-reserve-study-20181227.html

Getting a home improvement loan in Philly is harder when you’re low-income or a minority, study shows TIM TAI / STAFF PHOTOGRAPHER EMAIL Philadelphia is often called “The City of Neighborhoods,” an ode to its diverse housing stock and a high rate of home ownership. More than 52 percent of homes in the city are owner-occupied, 2017 data from the U.S. Census Bureau show, and the city tends to outperform the national average when it comes to minority home ownership. Nearly two-thirds of Philadelphia homes, according to some estimates, are classified as rowhouses. And more than 80 percent of the city’s housing supply was built before 1970.