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Home Ownership

Lois Johnson, ceo and founder of of Salt Lake City, Utah-based United Security Financial (USF) and NAREB president Jeffrey Hicks(Front) sign the landmark $50 million agreement making down payment assistance funds available to expand homeownership opportunities for low and moderate-income Black American home purchasers. Witnessing the signing at NAREB's Mid-Winter Conference in Miami, FL are: (2nd Row, L-R) Lydia Pope, NAREB 1st VP; Sumari Barnes, personal assistant to LJ Jennings; Tim Johnson, VP, Secondary Markets, USF; Michael Grant, regional president, USF; LJ Jennings, president, NAREB Sales Division affiliate, and Robert Hughes, chair, NAREB board of directors.

Fund Commits $50 Million for Down Payment Assistance

By News & Current Affairs

National Association of Real Estate Brokers Sign Agreement with Minority-Owned Mortgage Company to Boost Black Home Ownership. MIAMI, Florida – At its recent Mid-Winter Conference in Miami, FL, the National Association of Real Estate Brokers (NAREB) signed a groundbreaking Memorandum of Understanding (MOU) with United Security Financial (USF), a minority-owned mortgage company headquartered in Salt Lake City, Utah to make down payment assistance more broadly available to Black American home…

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A woman shops for food at the St. Vincent de Paul food pantry in Indianapolis, Indiana.

Want to Eradicate Hunger in America? Take on Racism.

By Commentaries/Opinions

A new study found that people who experience discrimination are almost twice as likely as others to struggle with hunger. By Greg Kaufmann, The Nation — With more than 40 million people in the country struggling with hunger, anti-hunger advocates in the United States have their work cut out for them. In 2017, nearly 12 percent of all US households were food insecure—meaning they didn’t have access to enough food for all household members…

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‘Housing is central to the ‘good life’ in the United States.’

Housing market racism persists despite ‘fair housing’ laws

By Commentaries/Opinions

In the US, where homeownership speaks to class, African Americans are being denied mortgages at rates much higher than their white peers By Keeanga-Yamahtta Taylor, The Guardian — As a new year begins and the 2020 presidential election looms closer, our political focus will start to narrow around the issues thought to be most urgent and likely to mobilize voters. One issue surely to be glossed over, if not completely…

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Get Out: Toward an Honest Commitment to Racial Justice

By Commentaries/Opinions, Gentrification

By David J. Harris, Houston Institute Executive Director — Several weeks ago the Boston Globe published an opinion piece by editorial and staff writer David Scharfenberg in which he called for an “honest” commitment to racial integration. He dismissed the “gauzy 1963 version” of integration, insisted that “harping too much” on its virtues “can feel paternalistic,” and lamented the “disastrous busing experiment of the 1970s” which proved that “forced integration…simply doesn’t work.” Even so,…

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Neighborhood homes

Black Americans’ Homes Undervalued by Billions

By News & Current Affairs

By Teddy Grant, Ebony — Black Americans’ homes are routinely undervalued in the real estate market, according to a report by Brookings Institution and Gallup that was released Tuesday. In the report “The devaluation of assets in Black neighborhoods: The case of residential property,” homes in neighborhoods with a Black majority that are owner-occupied are appraised for lower prices, averaging $48,000 per home, writes Curbed. Such low appraisal prices translate…

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How a ‘segregation tax’ is costing black American homeowners $156 billion

By News & Current Affairs

A new Brookings/Gallup report finds residential property in majority-black neighborhoods is consistently undervalued. By Patrick Sisson, Curbed — Black Americans, long accustomed to facing more hurdles on the road to homeownership, may consistently find their investments in residential property undervalued, according to a new joint Brookings Institution and Gallup study. According to “The devaluation of assets in black neighborhoods: The case of residential property,” owner-occupied homes are undervalued by the real estate market across…

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Image courtesy of Community Movement Builders (CMB)

Gentrification: The New “Negro Removal” Program

By Gentrification, Vantage Point Articles

Displacing Black People and Culture, Gentrification: The New “Negro Removal” Program A Call for an Emergency Summit. Vantage Point by Dr. Ron Daniels — Gentrification has emerged as a major threat to Black communities that have been centers for Black business/economic development, cultural and civic life for generations. Gentrification has become the watch-word for the displacement of Black people and culture. Gentrification is the “Negro Removal Program” of the…

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AME Church Bishops pose with Black bankers and business leaders after announcing historic partnership.

AME Church and Black Banks Launch New Partnership for Black Wealth

By News & Current Affairs

By Hazel Trice Edney — (TriceEdneyWire.com) – The Black church, among the most prosperous institutions in America, has long led movements for the spiritual, social and civic uplift of Black people. When the Rev. Dr. Martin Luther King Jr. was assassinated on April 4, 1968, he had just launched the Poor People’s Movement, which quickly fizzled after his death. With this historic backdrop, the African Methodist Episcopal Church – with…

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For People of Color, Banks Are Shutting the Door to Homeownership

For People of Color, Banks Are Shutting the Door to Homeownership

By News & Current Affairs

By Aaron Glantz and Emmanuel Martinez — Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts. This modern-day redlining persisted in 61 metro areas even when controlling for applicants’ income, loan amount and neighborhood, according to a mountain of Home Mortgage Disclosure Act records analyzed by Reveal from The Center for Investigative Reporting.

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