Helping Black Americans Build Wealth Through Homeownership
Black Homeownership Focus Of Realtist National Convention
Washington, DC — Black real estate professionals, sounding the alarm that Black Americans have not benefited from the nation’s economic recovery, will convene at the 69th Annual National Association of Real Estate Brokers (NAREB) Convention. The event is under this year’s theme, “Building Black Wealth through Homeownership.”
A key part of the event is the launch of NAREB’s “Two Million New Black Homeowners in Five Years” initiative. This initiative will be shared with 800 professionals. These include real estate agents, financial service and mortgage executives, housing counselors, and industry leaders. They will all be present at the event. It is a multi-faceted program designed to increase Black homeownership and improve wealth-building futures for Black Americans.
Building Wealth
The four-day conference is scheduled for August 12-16, 2016, at the Westin Long Beach Hotel, 333 East Ocean Blvd., Long Beach, CA.
“NAREB is prepared to do the groundwork and lead the charge to build wealth in Black America. We know that owning a home represents the most solid stepping stone to economic recovery and building legacy wealth,” said Ron Cooper, NAREB’s 29th president.
Black Homeownership
The U.S. Census Bureau in its most recent report issued as of the second quarter 2016, indicates that the homeownership rate for Black Americans is 41.7 percent, down from a high of 49.6 percent in 2004.
In comparison, the current homeownership rate for non-Hispanic whites is 71.5 percent. That is down from a 2004 high of 76.7 percent. “I want to re-instill the belief that homeownership is a noble aspiration and the basis of building wealth in the Black community,” Cooper added.
Keynoting the convention’s opening session, scheduled for Sunday, August 14, 2016 at 10:00 a.m. is presidential appointee, the Honorable Julian Castro, Secretary, U. S. Department of Housing and Urban Development (HUD), who is expected to address policy issues affecting Black homeownership.
Following Secretary Castro’s presentation is nationally-acclaimed Black economic empowerment advocate and activist, Maggie Anderson. She is known for living a year purchasing only products and services from Black-owned establishments, captured in her book, “My Black Year.”
Dr. Pamela Jolly, NAREB’s Strategist, will also present the framework and strategies. These support the roll-out of the Black trade association’s “Two Million New Black Homeowners in Five Years” initiative.
The Monday “View from the Hill” Legislative Breakfast features U.S. Congressman Alan Lowenthal (CA-47), Larry Parks, Senior Vice President, External and Legislative Affairs, Federal Home Loan Bank of San Francisco, and Elizabeth Mendenhall, 2016 1st Vice President, National Association of Realtors.
Closing Banquet
Michael Grant, National Bankers Association (NBA) President, will serve as the convention’s keynoter at the Tuesday night closing banquet.
NAREB is hosting a day to connect with people in Los Angeles and Long Beach. This event will focus on the long-term benefits of homeownership. NAREB’s free Community Wealth Building Day is set for Saturday, August 13. It will run from 9:00 a.m. to 2:00 p.m. at the Long Beach Convention Center.
Consumers can find answers to their questions about buying a home. They can learn how to buy a home with low down payment mortgages. There are also down payment assistance programs and grants that help make homeownership affordable and sustainable.
For Convention registration and Community Wealth Building Day information visit: www.nareb.com.
