Blog

Apr26

The Black Homeownership Gap Is Larger Than It Was 60 Years Ago. COVID-19 Made It Worse

The gap in homeownership rates between Black and White Americans grew to over 30% last year — which is higher than what it was in 1960, when racial discrimination in housing was legal. The fact that the Black homeownership gap has persisted since the passing of the 1968 Fair Housing Act, which outlawed housing discrimination, Continue Reading

Apr22

$22,000 grants for home buying offered amid Sacramento housing scarcity

Some financial help was much needed as Sacramento housing prices soared amid a seller’s market, even with a pandemic in the mix. SACRAMENTO, Calif. — The Sacramento Housing and Redevelopment Agency (SHRA) wants people to buy a house in the city, and to sweeten the deal, offered grants of up to $22,000 for down payments and Continue Reading

Apr19

Instead of rental vouchers, give people a shot at owning a home

President Biden has consistently stressed the need to address the racial inequity that plagues America. Nowhere is this inequity more pronounced than the wealth gap. The typical Black family has one-eighth of the net worth of white households. Latinos have less than a fifth. Yet most of the $640-billion housing plan Biden proposed during the campaign will do nothing Continue Reading

Apr13

Biden’s $1.5 trillion budget calls for big investment in HUD

President Joe Biden’s $1.5 trillion discretionary funding request includes a 15% budget increase for the Department of Housing and Urban Development (HUD) to combat homelessness, retrofit rental housing and increase the supply of affordable housing. But housing industry insiders tell HousingWire that the proposed budget looks unlikely to be passed as currently configured. In a letter sent to lawmakers on Continue Reading

Apr09

Down Payment Assistance Focused on First-Generation Buyers Could Help Millions Access the Benefits of Homeownership

As the US population becomes older and more diverse, lagging homeownership rates for young households and households of color should cause concern. Homeownership is the primary way American families have built financial security—through long-term accumulated benefits of loan repayment, appreciation, and fixed housing costs. The resulting wealth can open opportunities for homeowners’ children, helping them fund education or become Continue Reading

Apr08

Real Estate and Fair Housing

Q: Marsha, my Realtor told me she’s taking a fair housing class for one of her continuing education requirements in real estate. Why is this necessary? A: That’s a great question, especially as April is Fair Housing Month. What seems like a simple and obvious subject — treat everyone fairly — is really a vast and complicated Continue Reading

Apr07

N.J. has a racial gap in home ownership. Step one to fix that? More Black realtors, group says.

When Assata Thomas was 26 and shopping for a house, she just happened to end up with a realtor who, like her, was Black. But she soon recognized that her broker could relate to her experience, her needs, and her concerns as a Black homebuyer, and they developed a trusting relationship that culminated in her Continue Reading

Mar24

How the home appraisal gap makes homeownership more difficult and costly for Black families

It is well-documented that homes in Black neighborhoods generally appraise for less value than similar properties in predominantly white areas. There’s no single explanation for this disparity, which is the result of hundreds of years of history and policy — as well as social biases — but it’s clear that the appraisal gap has a tangible Continue Reading

Mar24

Real Estate Agents Urged to Apply for PPP Loans Before March 31 Deadline

  Industry Firms Collaborate to Help Expedite Application Process for Independent Contractors  Three industry firms are collaborating to help streamline the process for agents to apply for Paycheck Protection Program (PPP) loans in the coming weeks, urging independent contractors to apply immediately before the March 31 deadline, or before funding for the program could potentially run out. Continue Reading

Mar18

To Help Black Developers, Programs Start With Access to Capital

Several banks have announced initiatives totaling billions of dollars that are aimed at addressing racial inequalities, but observers say the programs need to be carefully tailored. For 15 years, Harvey Yancey has been building and renovating market-rate homes, affordable housing and commercial spaces in Washington, D.C. During that time, his company, H2DesignBuild, has navigated funding Continue Reading

Mar09

Realtists help Black Americans achieve homeownership

You’ve heard of a Realtor before, but have you heard of a Realtist? Homeownership has served as a crucial stepping stone to the middle class and generational wealth. But it’s also been a hurdle for African Americans. Redlining, systemic failures and polices have long contributed to black Americans being shut out from obtaining this crucial Continue Reading

Feb11

A New Program Aims to Increase the Number of Black Real Estate Agents in the USA.

  According to the latest data from the U.S. Census Bureau, fewer than 6 percent of all real estate professionals are Black, compared to 74.6 percent who are White and 8.79 percent who are Hispanic. This statistic stood out to Antoine Thompson, the executive director of the National Association of Real Estate Brokers, or NAREB. After the Continue Reading

Feb11

Down Payment Resource Presents Beverly Faull Affordable Housing Leadership Award to NAREB

  NAREB honored for advocating for equal opportunity affordable housing Atlanta, GA, February 4, 2021 — Down Payment Resource (DPR) is proud to announce the National Association of Real Estate Brokers (NAREB) as the 2020 recipient of the Beverly Faull Affordable Housing Leadership Award. The award, named in memory of accomplished real estate veteran Beverly Faull, recognizes an Continue Reading

Feb10

HomeLight and the National Association of Real Estate Brokers Launch the Black Real Estate Agent Program to Support Aspiring Black Agents

Program is the first of its kind in the United States, providing financial, educational, and career support for aspiring Black real estate agents to help them achieve high-production success. HomeLight, the real estate technology platform that empowers people to achieve better outcomes when buying or selling their home, announced today the launch of the Black Real Continue Reading

Feb10

New program puts Black real estate agents at forefront

Up to $5,000 of licensing costs covered for participants in new NAREB program The National Association of Real Estate Brokers and HomeLight has announced the creation of its “Black Real Estate Agent” program to provide financial, educational, and career support for aspiring Black real estate agents. HomeLight is partnering with NAREB in this venture with the goal of ultimately improving the rate Continue Reading

Feb10

HomeLight and NAREB Launch Black Real Estate Agent Program ™ to Support Ambitious Black Agents

In July 2019, African-American home ownership reached historic lows in the United States, affecting neighborhoods, families, school quality, and generational wealth. Systematic racism has been oppressing black Americans for decades.Have seen the direct impact of Racist law and real estate lending policy..Along Prevent African Americans from buying a home where they want to liveBoth the government and Continue Reading

Jan21

The Next New Deal Must Be for Black Americans, Too

If Joe Biden hopes to enact an ambitious recovery agenda modeled on the New Deal, he must confront its racist legacy. For many Black and brown Americans, 2021 brought renewed optimism about advancing a racial justice agenda. With a new presidential administration, the racist despot will soon be removed, and the first African, Asian, Caribbean American and female vice Continue Reading

Jan18

10 Things You May Not Know About Martin Luther King Jr.

1. King’s birth name was Michael, not Martin. The civil rights leader was born Michael King Jr. on January 15, 1929. In 1934, however, his father, a pastor at Atlanta’s Ebenezer Baptist Church, traveled to Germany and became inspired by the Protestant Reformation leader Martin Luther. As a result, King Sr. changed his own name as well as that Continue Reading

Jan13

Past Housing Policies, Practices Contribute To Iowa’s Racial Homeownership, Wealth Gaps

White Iowans own their homes at nearly three times the rate of Black Iowans, one of the biggest racial homeownership gaps in the country. Nationally, this gap is wider than it was 50 years ago, because discriminatory housing policies and practices of the past and present are still hurting Black families and their ability to build generational Continue Reading

Jan12

Renters of color pay a premium for housing

Renters of color, especially Black Americans, often pay a “Black tax” — a premium for renting similar housing in the same neighborhoods as whites. Why it matters: A recent study found that Black tenants paid as much as 2% more in rent — a gap that widened if the area had a bigger population of white people. Higher Continue Reading