--- title: "Diverse and Underserved Markets: Driving Change in 2024" description: Laws and guidelines that prevent discrimination and redlining haven't had the extended effect of closing the housing gap. image: https://info.ingenius-data.com/hubfs/marble-statue-of-the-ancient-greek-philosopher-pla-2023-11-27-05-02-12-utc.jpg --- [![Ingenius](https://info.ingenius-data.com/hs-fs/hubfs/Ingenius_September2023/images/cropped-logo-ingenius.png?width=180&height=94&name=cropped-logo-ingenius.png "Ingenius")](https://ingenius-data.com/) - [HOME](https://ingenius-data.com/) - [SOLUTIONS](https://ingenius-data.com/solutions/) - [ABOUT US](https://ingenius-data.com/about-us/) - [Blog](https://info.ingenius-data.com/blog) - [LINKEDIN](https://www.linkedin.com/company/ingenius-data/) - [CONTACT US](https://ingenius-data.com/contact-us/) ![marble-statue-of-the-ancient-greek-philosopher-pla-2023-11-27-05-02-12-utc](https://info.ingenius-data.com/hubfs/marble-statue-of-the-ancient-greek-philosopher-pla-2023-11-27-05-02-12-utc.jpg) # Diverse and Underserved Markets: Driving Change in 2024 - Home - [Industry Insights](https://info.ingenius-data.com/blog) - Diverse and Underserved Markets: Driving Change in 2024 [InGenius Data](https://info.ingenius-data.com/blog/author/ingenius-data) 01/16/2024 [Diverse Markets](https://info.ingenius-data.com/blog/tag/diverse-markets), [MMCT](https://info.ingenius-data.com/blog/tag/mmct), [LMI](https://info.ingenius-data.com/blog/tag/lmi), [housing gap](https://info.ingenius-data.com/blog/tag/housing-gap), [underserved communities](https://info.ingenius-data.com/blog/tag/underserved-communities), [CRA](https://info.ingenius-data.com/blog/tag/cra) [0 Comments](https://info.ingenius-data.com/blog/diverse-and-underserved-markets-driving-change-in-2024#postComment) 2 Minutes   ![Socrates Quote](https://info.ingenius-data.com/hs-fs/hubfs/Socrates%20Quote.png?width=1478&height=288&name=Socrates%20Quote.png)   Can you think of anything that hasn't changed *significantly* in 55 years?  Computers, cars and telephones come to mind as common consumer goods whose metamorphoses have exceeded what we could have imagined a half a century ago. The housing industry has also undergone massive changes, from the way homes are designed and built to the way they're marketed, bought and sold. But something that *hasn't* changed in all those years is the housing gap. The disparity between White and Black homeownership rates is larger than it was in 1960, when housing discrimination was legal. There was a 27-point difference between Black and White homeownership in 19601 and a 28.6-point difference in 20232. Surely lawmakers who crafted and passed milestone legislation including The Fair Housing Act of 1968, The Housing and Community Development Act of 1974 and Fair Housing Amendments Act of 1988 expected their work would narrow, if not eliminate racial discrepancies in homeownership. Yet as of 2023, the numbers illustrated a surprising truth: Legislation and regulatory oversight have not solved – or even improved – the housing gap in the United States.   Trade organizations like the National Association of Realtors (NAR) and the Nationwide Mortgage Licensing System (NMLS) implemented their own professional standards. We know the licensing boards: - Require initial and continuing education mirroring the goals of federal and state fair housing laws. - Have reporting and enforcement mechanisms to prevent and punish prohibited practices. - Can revoke violators' licenses and eliminate their ability to practice.  Laws and professional guidelines that prevent nefarious behavior such as discrimination, redlining and other exclusionary practices are useful and necessary; however, the fact that they haven't had the extended effect of decreasing homeownership discrepancies between racial groups can no longer be overlooked. Good intentions have not achieved the goal of expanding the American Dream to our country's growing, non-white population. But intention is actually the key to measurable change.  The ***housing industry*** has the ability to affect the ***housing gap.***  Stories of investigations, lawsuits and even targeting by Congressional committees frequently appear in the housing trade publications. Yet, all the legislation, regulation and good intentions to achieve housing parity over the last 55 years have been "fighting the old." The housing industry has undergone staggering changes since the turn of the century; yet the housing gap remains virtually unchanged. We know regulators are looking for fair lending violations, discriminatory practices and poor performance in diverse and underserved markets, but social media’s ever-expanding presence and the review culture means consumers are watching too. The housing industry has the data and expertise to “build the new” and defeat the persistent housing gap. InGenius can show you where and how to start. **Jeff Walton is CEO of InGenius. With over 35 years in home mortgage and as a CEO and President of large national mortgage companies, Jeff is focused on helping the industry achieve high performance using actionable intelligence. Interested in learning more? [Book an intro call with InGenius Data.](https://info.ingenius-data.com/lets-talk)** 1. Urban Institute, 2. Harvard Joint Center for Housing Studies (JCHS) --- #### Tag: [Diverse Markets](https://info.ingenius-data.com/blog/tag/diverse-markets) [MMCT](https://info.ingenius-data.com/blog/tag/mmct) [LMI](https://info.ingenius-data.com/blog/tag/lmi) [housing gap](https://info.ingenius-data.com/blog/tag/housing-gap) [underserved communities](https://info.ingenius-data.com/blog/tag/underserved-communities) [CRA](https://info.ingenius-data.com/blog/tag/cra) #### Share: - [Follow us on Facebook](http://www.facebook.com/share.php?u=https://info.ingenius-data.com/blog/diverse-and-underserved-markets-driving-change-in-2024) - [Follow us on Twitter](https://twitter.com/intent/tweet?url=https://info.ingenius-data.com/blog/diverse-and-underserved-markets-driving-change-in-2024&text=Diverse%20and%20Underserved%20Markets:%20Driving%20Change%20in%202024) - [Follow us on Linkedin](http://www.linkedin.com/shareArticle?mini=true&url=https://info.ingenius-data.com/blog/diverse-and-underserved-markets-driving-change-in-2024) - [Follow us on Pinterest](http://pinterest.com/pin/create/button/?url=https://info.ingenius-data.com/blog/diverse-and-underserved-markets-driving-change-in-2024&text=Diverse%20and%20Underserved%20Markets:%20Driving%20Change%20in%202024description=&media=https://7586191.fs1.hubspotusercontent-na1.net/hubfs/7586191/marble-statue-of-the-ancient-greek-philosopher-pla-2023-11-27-05-02-12-utc.jpg) --- #### [Why We Might Look Back Fondly on 2023 (Eventually) Previous Post](https://info.ingenius-data.com/blog/why-we-might-look-back-fondly-at-2023) #### [Market Mood Swings: Are You Ready to Capitalize on the Upturn? 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