This report looks at U.S. homeownership trends over a quarter century, and concludes that low- to moderate-income working families with children are less likely to be homeowners now than they were in the late 1970s. The study also finds that despite expanded efforts to boost homeownership by the last three administrations, the homeownership gap between white and minority working families with children not only did not improve, but worsened between 1978 and 2003. Specifically, the disparity widened to 26 percentage points. The study was sponsored by the Chicago Dwellings Association.