<P> Homeownership has been promoted as government policy using several means involving mortgage debt and the government sponsored entities Freddie Mac, Fannie Mae, and the Federal Home Loan Banks, which fund or guarantee $6.5 trillion of assets with the purpose of directly or indirectly promoting homeownership . Homeownership has been further promoted through tax policy which allows a tax deduction for mortgage interest payments on a primary residence . The Community Reinvestment Act also encourages homeownership for low - income earners . The promotion of homeownership by the government through encouraging mortgage borrowing and lending has given rise to debates regarding government policies and the subprime mortgage crisis . </P> <Dl> <Dd> Homeownership rate according to race & ethnicity in 2016 . </Dd> </Dl> <Dd> Homeownership rate according to race & ethnicity in 2016 . </Dd> <P> The homeownership rate, as well as its change over time, has varied significantly by race . While homeowners constitute the majority of white, Asian and Native American households, the homeownership rate for African Americans and those identifying as Hispanic or Latino has typically fallen short of the fifty percent threshold . Whites have had the highest homeownership rate, followed by Asians and Native Americans . </P>

By 1960 what percentage of american families owned a car