National Association of Real Estate Brokers (NAREB) promotes homeownership as best way to increase Black wealth during multi-city Realtist Week observance
Black real estate professionals are geared up to focus the nation’s attention on building Black wealth through homeownership. Realtist Week, April 23-29, 2017, established by the National Association of Real Estate Brokers (NAREB) in the early 1970s spotlights the important role Black homeownership plays in strengthening and stabilizing communities with a particular focus on the revitalization and desirability of the nation’s urban neighborhoods.
Throughout the country, NAREB’s local chapters are scheduling community events and activities that engage social, civic and business organizations, as well as the Black church community as part of NAREB’s focused effort to Build Black Wealth through Homeownership.
“NAREB has taken on the charge to encourage Black Americans to purchase homes as the first step toward building wealth. We have always aspired to be homeowners and live the American Dream. Now is the time for us to turn that aspiration into reality; for ourselves, our families and for our future generations,” said Ron Cooper, NAREB president.
Black homeownership has been on a steady decline since 2004 when it reached its peak of nearly 50%. Today, the Black homeownership rate hovers nationally, just below 42% compared to the non-Hispanic white homeownership rate of just above 72%.
“Our Realtist Week events in over 30 cities and more than 21 states demonstrates NAREB is at the forefront of Building Black Wealth Through Homeownership in the country,” stated Antoine M. Thompson, national executive director for NAREB. Realtist Week also serves as a showcase for NAREB’s new 2 Million New Black Homeowners in 5 Years program initiated to reverse the wealth drain among Black Americans.
Realtist Week activities heighten the community’s and policymakers’ awareness about the importance of affordable homeownership. Events started on Sunday with special church worship services and continue events at local schools, meetings with local officials, community service projects, and concluding on Saturday, April 29 with a Community Wealth Building Day where consumers can talk with financial education specialists; mortgage lenders; housing counselors; insurance experts, and representatives from local government to learn about first-time homebuyer and available down payment assistance programs.