Black Homeownership
Week
February 18 - 25, 2024
TAKE ACTION
taking the first steps towards a 51% BLACK home ownership RATE
The PRoblem
Historically, black individuals and families have faced significant barriers to homeownership, including systemic racism like redlining and white flight, which have prevented black households from accumulating wealth at the same rate as white Americans.
In 2022, 74.6% of White households owned their homes, compared with 45.3% of Black households — a gap of more than 29 points.
In 1960, the White homeownership rate was 65%, and the Black rate was 38%, a 27-point gap.
In 2019, White householders had a median household wealth of $187,300, compared with $14,100 for Black householders and $31,700 for Hispanic householders
-U.S. Census
In the second quarter of 2022, the homeownership rate for white households was 75% compared to 45 % for Black households.
-U.S. Department of Treasury
a solution
We must increase the black homeownership rate to provide economic equality for all and accelerate economic growth in the U.S.
When we increase the Black homeownership rate, we not only lessen the wealth gap, but homeownership also strengthens families and neighborhoods for generations to come.
When a significant share of the population is unable to fully participate in the economy, private consumption and investment suffers, stifling GDP growth.
The basic economic premise that returns to investment exhibit diminishing returns suggests that the largest gains to our economic potential as a nation come from addressing disparities that hinder the ability of the least advantaged families to invest in their future.
-U.S. Department of Treasury
Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families
-National Association of Realtors
The
Vision
51% Black homeownership Rate & Equality for All
The
Mission
Our mission is to level the playing field for Black Americans, who have faced systemic barriers to homeownership and provide resources that can economically empower people in black households.
“WE BELIEVE WE CAN CHANGE THE WORLD
THROUGH BLACK HOMEOWNERSHIP”
join the movement
HOST A HOME BUYER WORKSHOP.
SHARE our Home Buyer eBook & workguide.
CALLING ALL REAL ESTATE PROFESSIONALS & COMMUNITY LEADERS!
JOIN THE MOVEMENT
"We believe that the Black Homeownership Week campaign will ultimately increase the black homeownership rate. We know that a higher black homeownership rate leads to equality for black and brown neighborhoods and will also close the racial wealth gap here in America”
Keichel Lewter
Black Home Project
