Fifty years after the national Kerner Commission report on urban unrest and fifty-three years after California’s McCone Commission report on the 1965 Watts riots, substantial racial disparity in education, housing, employment, and wealth is still pervasive in Los Angeles. Neither report mentions wealth inequality as a cause for concern, however. This article examines one key dimension of racial wealth inequality through the lens of home ownership, particularly in South Los Angeles, where the 1965 Watts riots took place. It also analyzes the state’s role in housing development in codifying and expanding practices of racial and class segregation that has led to the production and reproduction of racial inequality in South Los Angeles compared...