News

Nov13

Black, Hispanic homeownership rates remain stuck below whites

By: Janna Herron  What was once the picture of the American dream may now be out of reach for many Americans. Here’s why. Darlene Easley doubted she could ever buy another home. In 2014, the 53-year-old African-American social worker lost her previous house to foreclosure after she went bankrupt over $245,000 in medical bills from Continue Reading Learn more

Oct30

Nation’s first black-owned shopping center celebrates 50 years

By: Jake Blumgart | This article originally appeared on PlanPhilly.   The shopping center on Broad and Oxford Streets might not look out of the ordinary to the average passersby. But that hasn’t stopped politicians from Richard Nixon to Barack Obama from staging rallies there. That’s because Sullivan Progress Plaza was the first shopping center in Continue Reading Learn more

Oct29

In Tampa Bay, gap is widening between white and black home owners

By: Susan Taylor Martin     Kelvin Jackson is pleased that the house he bought in St. Petersburg has an extra-wide driveway, big enough to park three cars. Shawna Ward likes that her new home in Largo is convenient to her job at the VA medical center and her daughter’s school. And Suzette Mignott is Continue Reading Learn more

Oct22

Meet The Women Who Lead The First African American-Owned Real Estate Crowdfunding Platform

By MeiMei Fox The Tulsa Real Estate Fund (TREF) was created to help individuals in low-income neighborhoods combat gentrification through making real estate investments at as low as $500. Ernestine Johnson and Johnetta G. Paye, Esq. both play an instrumental role at TREF, which is the first African American-owned real estate crowdfunding platform. Johnson is Continue Reading Learn more

Oct18

American Dream Of Homeownership Eludes Many Black People

  By: Tim Henderson Politicians and advocates have long touted homeownership as the best way to build wealth, saying that over the long term, home values go in only one direction: up. But since the dawn of the 21st century, that promise has been an empty one for many African-Americans. In nearly a fifth of Continue Reading Learn more

Oct15

Philadelphia Metropolitan Board of Realist hosts Community Wealth Building Day in Mt. Airy

MT. AIRY — While Northwest Philadelphia families often have a reputation for living in their own homes, some in Mt. Airy, Germantown and West Oak Lane are no longer homeowners. Some local residents desire to put down permanent roots but cannot seem to be able to purchase their own home. This is especially true for Continue Reading Learn more

Oct01

Much Left to Do for Homeownership

Editor’s Note: This feature originally appeared in the September issue of DS News. Every year since 1988, Harvard University’s Joint Center for Housing Studies (JCHS) has published an annual report entitled “The State of the Nation’s Housing.” Its 2018 edition, released on June 18, came during a year-long celebration of the 50th anniversary of the Continue Reading Learn more

Sep14

50 years of struggle: Realizing #DemocracyInHousing

By: BY REP. GREGORY MEEKS (D-N.Y.), OPINION CONTRIBUTOR — 09/13/18 02:00 PM EDT – THE HILL WASHINGTON – At the turn of the 20th century, my parents ventured north from their home in Rock Hill, S.C., as part of the “Great Migration” of African-Americans from the South to jobs in the North. My parents settled Continue Reading Learn more

Sep10

Michelle Singletary: Lessons learned 10 years after financial crisis

By: Michelle Singletary WASHINGTON – The bankruptcy filing of Lehman Bros. 10 years ago this month shot off a flare that signaled that an already weak economy was in deep trouble. Caught in the storm that led to the financial crisis were homeowners who found themselves underwater on their mortgages, meaning they owed more than Continue Reading Learn more

Aug16

Where Black Homeownership Is The Norm: Several Chicago suburbs are exceptions to the national trend.

By Tim Henderson OLYMPIA FIELDS, Ill. — Two decades ago, Frederick Veazey was drawn to this suburban idyll by the usual things: grass, peace and quiet, good schools. But in choosing where to raise his sons and daughter, the successful insurance broker also wanted something else. “We wanted our kids to grow up in a Continue Reading Learn more

Aug14

How racism kept black Tacomans from buying houses for decades

BY KATE MARTIN August 10, 2018 03:16 PM Updated August 11, 2018 09:30 AM Honorably discharged after serving in the Korean War, the young man looked to settle down in Tacoma with his wife. If only they could convince someone to show them a home. If they got to a house first, the real estate Continue Reading Learn more

Jul13

Harvard Study:  Housing Outlook Mixed

Harvard Study:  Housing Outlook Mixed (Part 1) By Timothy L. Coyle Consultant specializing in housing issues Tuesday, July 10th, 2018 When it comes to housing as a national matter, there’s good news and bad news.  At a minimum, it can be said that demographic changes – particularly the rise in household formation coming from expanding millennial Continue Reading Learn more

Jul13

Here’s why millions of millennials are not homeowners

The homeownership rate among millennials ages 25 to 34 is around 8 percentage points lower than Gen Xers and baby boomers was in the same age group. Student loans are one of the factors at play in deciding to put off settling down. Homeownership eludes millions of millennials. A new report by the Urban Institute, Continue Reading Learn more

Jul13

Report: Michigan sees greatest decline in black homeownership in nation

Violet Ikonomova Kevin Dickerson’s Detroit home was tax-foreclosed and sold in the Wayne County auction last year. The home had been built at his grandmother’s behest in 1950, at a time when black home ownership was extremely rare. African American homeownership has plunged further in Michigan than in any other state, from 51 percent in Continue Reading Learn more

Jul13

Fair Housing Video Competition Results

Fair Housing Video Competition Results We are excited to announce the prize winners of the video competition held to commemorate NAREB’s observance of the 50th Anniversary of the Passage of the Fair Housing Act. The submissions were all worthy, and we thank each of the NAREB chapters that thoughtfully produced videos and shared their work. But, competitions Continue Reading Learn more

Jun25

Housing affordability in America is its worst in nearly a decade, and there’s one clear culprit

Housing affordability hit its worst level in nearly a decade during the first quarter, according to Attom Data Solutions. Attom measures affordability by comparing average wages to median home prices to determine the share of income people need to spend on housing. Prospective buyers needed to shell out more because mortgage rates rose. The pace Continue Reading Learn more

Jun22

June is National Homeownership Month

By Christopher G. Cox June is National Homeownership Month Potential homebuyers are encouraged to explore incentives during National Homeownership Month. If you’ve been thinking about buying a home, there might be no better time than June, which is annually recognized by such organizations as the United States Department of Agriculture (USDA), United States Department of Continue Reading Learn more

May27

US history explains that white fear is just another way to enforce racial segregation

University students often keep late hours—so it’s unsurprising to see them asleep amidst books and papers in libraries and common rooms. And yet, when a white Yale student saw Lolade Siyonbola, a black graduate student, had drifted off while writing a paper in their dorm’s common room, she assumed something was wrong—and called the police. The Continue Reading Learn more

May24

Large numbers of loan applications get denied. But for blacks, Hispanics and Asians, the rejection rate is even higher.

The Bureau of Consumer Financial Protection found black applicants were rejected at more than double the rate of non-Hispanic white applicants on all types of loans (iStock) By Kenneth R. HarneyMay 23 at 6:30 AMEmail the author For millions of Americans hoping to buy or refinance a home, it’s a crucial make-or-break question: Will the lender Continue Reading Learn more

May21

Earnest money check, down payment and closing costs: When are they due?

Buying a house: 3 steps, 3 payments Buying a home usually occurs in stages: You provide an earnest money check to open escrow (often, when you make an offer on the home) The lender will verify that your down payment comes from an acceptable source You’ll bring your down payment and closing costs (less earnest Continue Reading Learn more

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