The Importance of Black Home Ownership in America

AChafukira • May 21, 2021
Housing concept. Happy black family with daughter holding keys from their new home, selective focus on hands, closeup.

When I was in elementary school, my grandmother  bought the house  she would live in for the rest of her life. The first summer afterward, when we went to visit, she gave us a tour: a dresser exclusively for hats, an all-white living room that we were forbidden from entering, paper guest napkins that matched the green wallpaper in her en-suite bathroom. Her bed was so high, I had to push myself onto my forearms to get in.

Some of the last words I heard her speak, in that very house, were about how grateful she was that all of her children had homes. My grandmother had grown up on a sharecropping farm in Mississippi and she promised she would never return there. She also would never explain why, but undoubtedly it was because of the trauma that came with being a Black woman in the state deepest in the Deep South. The advice that she would give my sister, my cousins, and me often centered on upward mobility and independence: travel, try not to get saddled with too many responsibilities, and—the last piece I saved—own a home.

In 1970, the  Reels brothers’ dying grandfather told them not to “let the white man get the house.” Their 65-acre North Carolina farm was inevitably “legally stolen” by developers and the pair spent eight years in jail for refusing to leave it—the longest sentence ever for such an offense. Fifty-some years later, one of the last Black farmers in rural Oklahoma  started a GoFundMe campaign to save his family farm , after the COVID-19 pandemic put several members of his family in the hospital. It is telling that though Black Americans struggled to escape the farms they were born on because of  seemingly unbreakable contracts  that stretched through generations, in the instances when property has been a source of security or economic freedom for Black Americans, there are endless barriers to its acquisition and safekeeping.

In fact, since 1910,  1 million Black farmers have lost their properties , a fact that becomes more alarming when measured against the way the security of property ownership blunted the impact of destructive modern-day events, such as the pandemic, for those who own property. During this time, wealth has been safe green spaces, with first homes, second homes, and access to health care. Poverty has looked like  quarantining in crowded homeswaiting on food bank lines  that curled around city blocks, being pushed to the  back of vaccine queues , and ultimately facing a greater risk of being exposed to COVID-19.

According to Rick Banks, a Stanford professor and author who has studied discrimination in depth, the pandemic simply highlighted disparities that always existed in our country. “African Americans and Latinos remain marginalized,” says Rick. “They have the heaviest jobs, now essential, providing services—like home health aides and delivery. They don’t get paid to stay home and have Zoom meetings.”

Rick is right. In places like New York City, people of color make up  70% of essential workers  and, overall, Black Americans are  overrepresented in essential work. In New York, the majority of essential workers live in  Queens and Brooklyn , which are outer boroughs and have faced high COVID-19 positivity rates since the start of the pandemic. Though so many Americans applaud the people of color tasked with keeping the country going—both actually and figuratively—lasting, actionable steps are rarely taken to help them survive via equitable housing or opportunities to build generational wealth. Homeownership is nearly  impossible for frontline workers in many cities across the country. The picture that comes into focus is one that looks very much like the past: People of color continue to carry the country forward but are offered little stake in it.

“This vulnerability mirrors the economic marginality,” says Rick. “When we talk about race, we focus a lot on rights, [but] it’s gotten worse. It’s more pressing now. We’re much more economically unequal.”

As the pandemic drags on, most of the legislative battles we’ve seen waged are about repairing the economy or providing vaccines and resources for strapped health-care systems across the country. These are important and necessary discussions for pulling the country out of the many crises it’s in the middle of, but for Black Americans, maybe some of the most important moves to make are ones that build generational wealth.

During the summer,  19 black families purchased 90 acres in Georgia , which they hope will eventually become a city called Freedom. In February, the  Justice for Black Farmers Act  was passed with the goal of both protecting the remaining Black farmers from losing their land, curbing discrimination within the USDA, and returning land to Black Americans through land grants. It seems that, at least though small steps, some Americans are trying to repair the injustices of the recent and  distant past , a step that is more important than ever as the  conflict over who our nation belongs to  continues. For Black Americans, it may be more important than it has been in a long time to say, it belongs to us, too.


CREDITS:  / Architectural Digest

March 19, 2025
The National Building Black Wealth Day Follows The Resounding Success of Our Mid-Winter Conference In February, Where We Equipped Our Community With the Tools, Strategies, and Insights Needed to Thrive In an Evolving Industry. ST. LOUIS, MO— The National Association of Real Estate Brokers (NAREB) will present its second annual National Building Black Wealth Day on April 12, 2025, with live events in more than 100 cities across the country. Seminars and one-on-one sessions will empower communities with steps towards homeownership, property investment, starting a business, and other wealth-building opportunities. An internet feed will make virtual sessions accessible to a national audience. To register for the in-person events in 100 cities, please go to XXXXX. To register for the virtual sessions on Zoom, click HERE. Act quickly as the virtual sessions have limited spots available. We also encourage you to share this opportunity with your networks to help us reach more Black consumers. Key partners in the tour, include the African American Mayors Association, Inc., Alpha Phi Alpha Fraternity, Inc., Church of God in Christ, Inc., the National Baptist Convention, Delta Sigma Theta Sorority, Inc., National Bar Association, Phi Beta Sigma Fraternity, Inc. and Zeta Phi Beta Sorority, Inc. “Participation by our partners underscores their commitment to empowerment and economic development in our communities,” said Dr. Courtney Johnson Rose. “The Building Black Wealth Tour is expanding for 2025. We are bringing together families, lenders, attorneys, and real estate professionals to discuss and implement strategies for increasing Black homeownership and building wealth within Black communities.” Rose noted that NAREB’s 2024 State of Housing in Black America report found that more than two million mortgage-ready Black Americans have the income and credit to buy a home but have not yet become homeowners. In addition, 1.75 million Black millennials make over $100k annually and are poised to be homeowners. Further, Freddie Mac tracks the number of “mortgage-ready” renters nationwide , meaning they can meet certain income and credit requirements to qualify for a mortgage. Their researchers determined that as of January 2021, two million Blacks ages 45 or younger are near mortgage-ready, while another 3.4 million are potentially mortgage-ready. “Our tour aims to reach these Black consumers,” said Dr. Rose. “We are providing them with data and information on why they should be homeowners. We explain the many benefits of homeownership, such as building wealth, stable communities and building equity for retirements, college educations for their children, starting a business or more.” On National Building Black Wealth Day, hundreds of families and individuals will be armed with the information needed to make wealth-building decisions. Among the opportunities/Workshops are: What to do with Big Momma's House? ABCs of Homebuying Real Estate Investing Down Payment Assistance Explore Careers in Real Estate Free Career Fair Free Health Screenings One On Ones with Real Estate Attorneys One On Ones with Housing Counselors The Black Wealth Day comes after NAREB’s successful Mid-Winter Conference in Ft. Lauderdale, Florida, last month. This year’s conference, themed "Navigating New Horizons," empowered real estate professionals with the tools, strategies, and insights needed to thrive in an evolving industry. Speakers included Dr. Egypt Sherrod , Host and Executive Producer of HGTV’s Married to Real Estate; Catrese Fields Alston, Philanthropist and CEO of Le-Bleu Diamond Corporation; Hill Harper , Award-Winning Actor and Activist and Laura Escobar , President of Lennar Mortgage and 2025 Chair of the Mortgage Bankers Association (MBA). “Our Mid-Winter Conference helped NAREB Realtists® prepare for the shifting landscape of the real estate industry,” said Dr. Rose . “Realtists are on the front lines, working with families to secure homeownership and build generational wealth. In today’s challenging market, our members are more valuable than ever, and this conference ensured they have the knowledge and support to make a lasting impact in Black communities.” ABOUT THE NATIONAL ASSOCIATION OF REAL ESTATE BROKERS NAREB was formed in 1947 to secure equal housing opportunities regardless of race, creed, or color. NAREB has advocated for legislation and supported or instigated legal challenges that ensure fair housing, sustainable homeownership, and access to credit for Black Americans. Simultaneously, NAREB advocates for and promotes access to business opportunities for Black real estate professionals in each real estate discipline. From the past to the present, NAREB remains an association that is proud of its history, dedicated to its chosen struggle, and unrelenting in its pursuit of the REALTIST®’s mission/vision embedded goal, “Democracy in Housing.”
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