RAISING BLACK HOMEOWNERSHIP RATES FOCUS OF NAREB NATIONAL CONFERENCE
Oakland, CA site of the first of four national hub conferences convened by the National Association of Real Estate Brokers to rebuild Black wealth through homeownership.
Washington, DC (February 8, 2016) Rebuilding wealth among Black Americans through homeownership is the singular focus of the Mid-Winter Regional Conferences to be convened by National Association of Real Estate Brokers (NAREB). Homeownership rates continue to stagnate from a high of approximately 49 percent prior to the recent, economically-disabling recession that started in 2006, to a now intractable low of 42 percent.
Strategy sessions encouraging Black Americans to become homeowners, coupled with a laser-focused advocacy campaign addressing public policies, private practices and regulations obstructing fair mortgage lending will be covered at NAREB’s first of four national hub conferences scheduled. The conference, opening under the theme, “Rebuilding Black Wealth Through Homeownership,” runs February 18-20, 2016, at the Hilton Garden Inn, 1800 Powell Street, Emeryville, CA 94608.
“NAREB is taking the lead to re-build Black wealth through homeownership. NAREB’s goal is to increase homeownership for Black Americans by two million in five years,” said Ron Cooper, president of the National Association of Real Estate Brokers (NAREB) which has been fighting for Democracy in Housing for Black Americans and professionals in the real estate industry since its founding in 1947.
Latest available HMDA mortgage lending data for Oakland according to LendingPatterns
, indicates that of the 2,112 loans made in 2014, only 67, or 3.2 percent (3.2%) of those loans were granted to Black American purchasers; who represented 27 percent (27%) of the city’s population. The report also noted that the average loan amount in Oakland in 2014 was nearly $400,000. LendingPatternsis an online Home Mortgage Disclosure Act (HMDA) software program developed by ComplianceTech.
“The situation in Oakland is not unlike other parts of the country. NAREB’s mission is to ensure that Black Americans and others adversely affected by the devastating economic meltdown have the opportunity to rebuild their economic legacy that was destroyed or drastically diminished during the nation’s near financial collapse, Cooper added.
On Saturday, February 20, NAREB is convening Community Wealth Building Day at the Oakland City Hall, 1 Frank O’Gawa Plaza, Oakland, CA 94612. The free event is open to the public to help Black Americans learn why owning a home can positively change their financial futures. Also, there will be educational sessions designed to help residents better understand the home buying process and how to sustain a newly purchased home.
The Community Wealth Building Day is the culminating event of NAREB’S 2016 Mid-Winter Regional Conferences; this year being held in four hub cities. The three-day professional real estate conferences are being held in: Oakland, CA (February 18-20); Memphis, TN ((March 10-12); Philadelphia, PA (April 7-9), and Chicago (April 21-23).
For more information and to register for the professional real estate conferences, visit www.nareb.com.
About NAREB:
The National Association of Real Estate Brokers (NAREB) was formed in 1947 out of a need to secure the right to equal housing opportunities regardless of race, creed, or color. NAREB has 90 chapters located nationwide and publishes annually The State of Housing in Black America (SHIBA) Report. NAREB headquarters is located at 9831 Greenbelt Rd., Lanham, MD 20706. Visit www.nareb.com for more information.
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