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78 I N D U S T R Y I N S I G H T / A N I T A S C O T T ere are many business reasons to focus attention on diversity and inclusion. Two news items this summer about the changing demographics of today's housing market illustrate the need. e first, from the Wall Street Journal, was a report that Hispanic Americans are experiencing the largest homeownership gains of any ethnic group in the U.S. is represents "a turnaround for the population hardest hit by the housing bust that could help buoy the market for years," according to the Journal. Yet, the very same edition also contained a troubling story about the homeownership rate for African-Americans, which is hitting its lowest level on record according to census data. e reasons for this divergence in homeownership are complex and involve issues of history and culture, as well as economics. Understanding the forces in play in the real estate market and how the specific experiences of individual consumers impact their decisions to engage in, or avoid the market, are increasingly important factors in the success of brokers, developers, lenders, and insurers. Knowing that these forces and factors exist is the baseline objective of a Diversity and Inclusion (D&I) initiative. Aside from the business imperative, taking D&I into account is the right thing to do. American workplaces, neighborhoods, and even families are becoming more diverse as people of different backgrounds and ethnicities come together to live and work side by side. In order to get along and thrive in such an environment with people who have an infinite number of individual experiences, it is important to exercise respect and understanding. It is proven that workplace cultures that foster diversity and inclusion are in turn more innovative, more resilient, and more competitive. According to research from the management consulting firm McKinsey & Co., "Companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians." Companies in the bottom quartile in these dimensions are statistically less likely to achieve above-average returns, the research says. In terms of talent and recruitment, a D&I orientation not only expands the universe of possible employees to hire, but it also helps companies attract and keep top talent who are drawn to workplaces with a variety of people. When it comes to decision-making and innovation, an organization with a diversity of informed views can identify anomalies, opportunities, and potential errors of thinking as well as develop solutions and alternatives more quickly and efficiently than groups of people who share the same assumptions and perspectives. Organizations are smarter and more responsive to customers and employees when they have more people contributing their ideas and knowledge. e Mortgage Bankers Association (MBA) provides resources to help mortgage and real estate finance professionals lean in to D&I. ey offer a list of tactics and themes rather than THE DIVERSITY IMPERATIVE