My grandparents, despite many barriers, worked, saved, and eventually bought a house. My grandfather was forced to drop out of school in the fifth grade to work and help care for his younger siblings. But their determination to own a home, a dream shared by many in their generation, was unwavering. Families worked, prayed, and, like my grandparents, many others managed to turn their dreams into reality and own a home.
Today, too many Black families and individuals have the means to purchase homes but are discouraged by the limited inventory and high interest rates. I understand their frustration: they defeat the odds and get approved for a loan, only to discover that there are few homes on the market and none that meet their specific needs. For too many Black consumers, that has been a signal to back off, and they get stuck at that point.
At the National Association of Real Estate Brokers (NAREB), we refuse to stand idly by as our community faces challenges in homebuying. My grandparents, despite having only limited formal schooling, owned a home. This is the kind of inspiration NAREB aims to instill today, especially among Black millennials. We’re here for the 1.75 million of them who earn over $100,000 a year but haven’t yet bought a home.
Our community needs to understand the significance of homeownership in wealth building. It’s much more than just a place to live. It’s also
the best way to save for retirement, the most effective savings plan you can set up, and the most efficient way to pay for your children’s college education. If you want to start a business, the equity in your home is a quick way to become an entrepreneur. These are the many financial benefits that homeownership can bring, and it’s crucial for our community to be aware of them.
Yes, buying a home is more complicated than it was four years ago. However, it remains just as vital as it was 60 years ago. That’s why NAREB isn’t a passive observer. We are on an active mission to increase homeownership in Black communities. We are here to support the Black community, and we believe that with the right resources and knowledge, homeownership is within reach for families and individuals in our community.
On April 12, 2025, NAREB will present its second annual National Building Black Wealth Day in 100 cities nationwide. Seminars, workshops, and one-on-one sessions will empower communities with steps towards homeownership, property investment, starting a business, and other wealth-building opportunities.
Among the workshops are:
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What to do with Big Momma’s House?
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ABCs of Homebuying
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Real Estate Investing
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Down Payment Assistance
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Explore Careers in Real Estate
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Free Career Fair
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Free Health Screenings
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One-On-Ones with Real Estate Attorneys
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One-on-Ones with Housing Counselors
To register for the local events around the country, visit www.narebblackwealthtour com. There will also be virtual sessions.
The Wealth Tour is designed to provide guidance on how to start the journey towards homeownership for those who need assistance.
