Blog

Nov19

Long Island Divided: An Investigation by Newsday

After a 3-year investigation with over 90 real estate agents tested, over 200 hours of meetings recorded, and over 5700 house listings analyzed, the Newsday investigation uncovered widespread evidence of unequal treatment by real estate agents on long island: 19% of the time against Asians, 39% against Hispanics and 49% against Blacks.   In one of Continue Reading

Nov14

FHA capital level is the highest since 2007

By Kathleen Howley Montgomery on cutting life-of-loan policy: “We’re not there yet” The Federal Housing Administration’s flagship Mutual Mortgage Insurance Fund is in the best condition since before the financial crisis, with capital levels at the highest level since 2007. The FHA’s annual report to Congress showed a capital ratio of 4.84%, up from 2.76% Continue Reading

Nov05

Despite a Strong Economy, Black Homeownership Continues to Struggle

By: Marie Cyprien A new report called State of Housing in Black America released by the National Association of Real Estate Brokers shows that not only is the rate of black homeownership decreasing, but the gap between black and white households today is much wider than in 1968.     In fact, recent U.S. Census Continue Reading

Nov05

Kansas residents are looking back to move community forward

KANSAS CITY, Mo. (AP) — Bernard Crawford grew up on Quindaro during the 1970s. He remembers thriving businesses: bakeries, grocery stores and theaters. He left for school but has come back to be what he calls a “light” on Quindaro, to help it be a safe and welcoming place. A sign on the wall says, Continue Reading

Oct31

For many black millennials, student debt is biggest hurdle in homeownership

By Troy McMullen Not long after they were married in 2017, Rick and Astardii Hopkins started shopping for a home. But when the Birmingham, Ala., couple began exploring home loans, they quickly realized their college loan debt limited their options. Both attended local colleges, and like many African American millennials across the country who took Continue Reading

Sep25

Commercial real estate firm JLL pulls out of summit over lack of diversity

The New York Multifamily Summit is billed as a chance to discuss investment in, among other places, areas that have large historic black communities By: Jim Dalrymple II International commercial real estate firm Jones Lang LaSalle (JLL) revealed Friday that it is pulling its support of an upcoming industry conference due to a lack of Continue Reading

Sep20

Every 2020 Democrat’s Plan to Fix the Housing Crisis

By Josh Ocampo Over the weekend, Bernie Sanders teased a $2.5 trillion housing plan, which, among other things, promises to establish a national rent control standard and make significant investments in affordable housing. Like Sanders, several other Democratic candidates have released proposals to tackle housing inequality in America. Former Secretary of Housing and Urban Development Continue Reading

Sep06

‘The Color of Wealth in Miami’ Is Black and White

By Aracely Panameño From our nation’s founding, state and federal laws have either stacked the deck for or against Americans of diverse racial and ethnic origin. In their new report, “The Color of Wealth in Miami,” Alan A. Aja, Gretchen Beesing, Daniel Bustillo, Danielle Clealand, William Darity, Jr., Darrick Hamilton, Mark Paul, Anne E. Price, Continue Reading

Aug29

Homeownership is the Top Contributor to Household Wealth

BY: JANN SWANSON Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account. While that may not be surprising, the degrees of magnitude are. Using data from the 2015 Survey of Income and Program Participation, Jonathan Eggleston, an economist, and Donald Hays, Continue Reading

Aug28

Coldwell Banker and Realogy Support NAREB

By Kevin Guhl, Neighbor Coldwell Banker And Realogy Support National Association Of Real Estate Broker’s Commitment To Diversity And Inclusion MONTCLAIR, N.J. (Aug. 23, 2019) – Coldwell Banker Residential Brokerage and its parent company Realogy had the honor of being a corporate sponsor of the 72nd Annual National Convention of The National Association of Real Continue Reading

Aug21

Why So Many Black Property Owners in Central Brooklyn Are Losing Their Homes, Explained

Part 1 in a series: The difference between deed theft and the city’s controversial Third Party Transfer Program By Charlie Innis Black homeowners in Central Brooklyn are losing their homes at an alarming rate, and the main culprits are deed theft and the city’s controversial Third Party Transfer Program. As of March 2019, there were Continue Reading

Aug17

Study: African Americans underserved, overcharged by US banks

By Zack Budryk The relative rarity of banks in nonwhite neighborhoods is exacerbating the racial wealth gap by leaving African Americans more reliant on expensive financial services such as payday lending institutions, according to Reuters, citing research by McKinsey & Co. The study found that majority-white counties have an average of 41 financial institutions per Continue Reading

Aug16

Groundbreaking Initiative Shows Pathway to Propel Black Homeownership

By Mike Community Journal Potential homebuyers turned out in droves to receive know-how, financial assistance through landmark program While statistics may paint a grim picture of Black homeownership, a recent event in Baltimore laid out a clear path for turning those numbers around across the country. Anyone questioning whether the Black community is primed to Continue Reading

Aug13

Library exhibit explores Southwest’s history of racial displacement

By Zach Farber Upstairs at the Linden Hills Library, a flat-screen television has been set up to serve as an interactive history exhibit. The screen displays an old hand-lettered, green-and-black map of Southwest Minneapolis. Scattered across the map are about a dozen big red dots, mostly clustered in the neighborhoods of Linden Hills and Lyndale. Continue Reading

Aug12

Bank of America Launches $5 Billion Home Loan Assistance Program

By Stacy M. Brown, NNPA Newswire Correspondent Bank of America officials have spent the past few months asking their customers and clients a simple question – what would you like to have the power to do? “For many, the goal is to own a home and saving up for a down payment is the biggest Continue Reading

Aug12

Five Key Facts That Underscore The Alarming Crisis In Black Homeownership

By Brenda Richardson For many black households, the housing crisis never ended. While 73.1% of white Americans owned homes as of the second quarter of 2019, a record low of 40.6% of black Americans had achieved homeownership and 46.6% of Hispanic Americans. The resulting 32.5 percentage-point gap in homeownership between black and white Americans is Continue Reading

Aug09

Systemic Inequality: Displacement, Exclusion, and Segregation

How America’s Housing System Undermines Wealth Building in Communities of Color By Danyelle Solomon, Connor Maxwell, and Abril Castro This report is part of a series on structural racism in the United States. Authors’ note: CAP uses “Black” and “African American” interchangeably throughout many of our products. We chose to capitalize “Black” in order to Continue Reading

Aug05

HUD to propose more hurdles to prove housing discrimination

By KATY O’DONNELL The Department of Housing and Urban Development is circulating a proposal to make it more difficult to bring discrimination claims under the Fair Housing Act. The update to HUD’s 2013 disparate impact rule would require plaintiffs to meet a five-step threshold to prove unintentional discrimination, replacing the current three-step “burden-shifting” approach. It Continue Reading

Aug05

Black Entrepreneur Who Opened Three Real Estate Firms in 5 Years Speaks at NAREB National Convention

Tamairo Moutry, a successful entrepreneur and real estate mastermind, has opened three real estate companies in less than 5 years, and is opening her next one in Illinois before the end of this year. She was a guest speaker on the Independent Real Estate Broker panel at this year’s NAREB national convention. Atlanta, GA — Continue Reading

Jul08

Survey finds race still a factor in mortgage approval

  A new analysis of US mortgage applications claims African Americans are twice as likely to be denied a mortgage as white applicants. The study, carried out by real estate blog Clever Real Estate, also found that the disparity between white and black mortgage approval rates is most pronounced in the South. In Montana, Idaho, Continue Reading